NetApp, Inc. (NTAP) Given a $52.00 Price Target by Piper Jaffray Companies Analysts
Piper Jaffray Companies set a $52.00 target price on NetApp, Inc. (NASDAQ:NTAP) in a research report released on Tuesday morning. The firm currently has a buy rating on the data storage provider’s stock.
Other research analysts also recently issued research reports about the company. Susquehanna Bancshares Inc reiterated a positive rating and set a $50.00 price target (up previously from $48.00) on shares of NetApp in a research note on Wednesday, August 16th. Stifel Nicolaus reiterated a hold rating and set a $37.00 price target on shares of NetApp in a research note on Wednesday, August 16th. Barclays PLC increased their price target on NetApp from $35.00 to $38.00 and gave the stock an underweight rating in a research note on Thursday, August 17th. Drexel Hamilton reiterated a buy rating and set a $62.00 price target (up previously from $60.00) on shares of NetApp in a research note on Friday, August 18th. Finally, Lake Street Capital increased their price target on NetApp from $43.00 to $49.00 and gave the stock a buy rating in a research note on Thursday, August 17th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. NetApp currently has an average rating of Hold and an average price target of $48.68.
Shares of NetApp (NASDAQ:NTAP) traded down $0.16 during trading hours on Tuesday, reaching $52.95. The company’s stock had a trading volume of 5,664,483 shares, compared to its average volume of 2,981,599. The company has a market cap of $14,330.00, a P/E ratio of 19.17, a PEG ratio of 1.60 and a beta of 1.16. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.47 and a quick ratio of 1.44. NetApp has a 52-week low of $34.72 and a 52-week high of $54.72.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 EPS. sell-side analysts forecast that NetApp will post 2.49 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.51%. NetApp’s dividend payout ratio is presently 38.46%.
In related news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total transaction of $83,011.76. Following the sale, the executive vice president now directly owns 17,812 shares in the company, valued at $748,282.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard P. Wallace sold 34,000 shares of NetApp stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $43.53, for a total value of $1,480,020.00. Following the sale, the director now owns 24,132 shares in the company, valued at $1,050,465.96. The disclosure for this sale can be found here. Insiders have sold 74,343 shares of company stock worth $3,302,273 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Exane Derivatives boosted its position in shares of NetApp by 59,850.0% during the third quarter. Exane Derivatives now owns 2,398 shares of the data storage provider’s stock valued at $105,000 after purchasing an additional 2,394 shares in the last quarter. First Personal Financial Services boosted its position in shares of NetApp by 27,540.0% during the third quarter. First Personal Financial Services now owns 2,764 shares of the data storage provider’s stock valued at $121,000 after purchasing an additional 2,754 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of NetApp during the third quarter valued at approximately $131,000. Krilogy Financial LLC bought a new stake in shares of NetApp during the second quarter valued at approximately $122,000. Finally, FTB Advisors Inc. boosted its position in shares of NetApp by 50.2% during the third quarter. FTB Advisors Inc. now owns 4,544 shares of the data storage provider’s stock valued at $199,000 after purchasing an additional 1,519 shares in the last quarter. Institutional investors own 93.91% of the company’s stock.
NetApp Company Profile
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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