Somewhat Positive News Coverage Somewhat Unlikely to Affect NetApp (NTAP) Share Price
News stories about NetApp (NASDAQ:NTAP) have trended somewhat positive on Friday, according to Accern Sentiment Analysis. The research group identifies positive and negative news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. NetApp earned a news sentiment score of 0.10 on Accern’s scale. Accern also assigned press coverage about the data storage provider an impact score of 45.5808636319974 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Zacks: Brokerages Anticipate NetApp Inc. (NTAP) Will Post Quarterly Sales of $1.49 Billion (americanbankingnews.com)
- After Yesterday’s Rally of 1.12% Shares Could Potentially Pullback (mysmartrend.com)
- Facebook Revamps News Feed to Bring More Relevant Content (finance.yahoo.com)
- IBM Names Veteran James Kavanaugh as the New CFO in 2018 (finance.yahoo.com)
- NetApp (NTAP) Hits 52-Week High: What's Behind the Rally? (finance.yahoo.com)
NetApp (NASDAQ:NTAP) traded up $0.96 on Friday, reaching $62.77. The company’s stock had a trading volume of 2,510,505 shares, compared to its average volume of 2,587,355. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55. The stock has a market cap of $16,700.00, a P/E ratio of 26.94, a PEG ratio of 1.91 and a beta of 1.29. NetApp has a 12-month low of $35.41 and a 12-month high of $62.80.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 26.77% and a net margin of 11.49%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. analysts predict that NetApp will post 2.72 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio is presently 34.33%.
Several equities research analysts recently issued reports on the company. UBS Group upgraded NetApp from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $42.00 to $45.00 in a report on Tuesday, September 19th. DA Davidson boosted their price objective on NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, November 14th. Loop Capital boosted their price objective on NetApp from $41.00 to $50.00 and gave the company a “hold” rating in a report on Thursday, November 16th. They noted that the move was a valuation call. Barclays reiterated an “overweight” rating and issued a $56.00 price objective (up previously from $52.00) on shares of NetApp in a report on Thursday, November 16th. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $62.00 price objective on shares of NetApp in a report on Monday, September 25th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the stock. NetApp presently has a consensus rating of “Hold” and a consensus target price of $50.15.
In other NetApp news, EVP Henri P. Richard sold 1,976 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $44.62, for a total transaction of $88,169.12. Following the completion of the sale, the executive vice president now directly owns 13,860 shares of the company’s stock, valued at approximately $618,433.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $52.50, for a total value of $3,937,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 197,604 shares of company stock valued at $10,389,277. 0.47% of the stock is owned by company insiders.
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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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