Shares of NetApp Inc. (NASDAQ:NTAP) have been assigned an average rating of “Buy” from the twenty-nine analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $81.70.
Several research analysts recently issued reports on NTAP shares. Zacks Investment Research downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Royal Bank of Canada upped their price target on shares of NetApp from $80.00 to $85.00 and gave the stock a “sector perform” rating in a research report on Friday, August 10th. Citigroup upped their price target on shares of NetApp from $70.00 to $83.00 and gave the stock a “neutral” rating in a research report on Monday, August 13th. Bank of America upped their price target on shares of NetApp from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, August 13th. Finally, DA Davidson upped their price target on shares of NetApp from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th.
In other news, CEO George Kurian sold 10,000 shares of NetApp stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $66.66, for a total transaction of $666,600.00. Following the completion of the sale, the chief executive officer now owns 10,244 shares of the company’s stock, valued at $682,865.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Henri P. Richard sold 2,525 shares of NetApp stock in a transaction on Friday, November 16th. The stock was sold at an average price of $69.55, for a total value of $175,613.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,805 shares of company stock valued at $8,227,046. 0.19% of the stock is owned by company insiders.
NetApp stock traded up $2.25 on Monday, hitting $67.91. The company’s stock had a trading volume of 165,075 shares, compared to its average volume of 3,426,425. The firm has a market capitalization of $16.54 billion, a PE ratio of 22.64, a price-to-earnings-growth ratio of 1.16 and a beta of 1.38. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.65 and a quick ratio of 1.63. NetApp has a one year low of $52.00 and a one year high of $88.08.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, November 14th. The data storage provider reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.07. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. NetApp had a net margin of 4.70% and a return on equity of 51.50%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. Analysts predict that NetApp will post 3.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.36%. NetApp’s payout ratio is 53.51%.
NetApp, Inc provides software, systems, and services to manage and share date on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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