Analyst's Report Recap: NetApp Inc. (NASDAQ:NTAP)
- Author: Zachary Reyes Feb 18, 2017,
Feb 18, 2017, 11:40
The brokerage now has a $43.00 target price on the data storage provider's stock, up from their previous target price of $39.00.
Price Target is an important factor while doing analysis of a stock. Research entities assess the varied financial aspects of a firm and then draft reports on shares.
Shares of NetApp, Inc. (The) raised NetApp from a "neutral" rating to a "buy" rating and set a $43.00 price target for the company in a report on Monday. Of the 18, 4 have a Strong Buy rating and 0 are rating it a Buy. The median one-year price target of 26 analysts covering the company is $39.00, which suggests the stock could still rise over -4 percent.
NetApp, Inc. (NASDAQ:NTAP) has 278 Million shares outstanding and 274.66 Million shares were floated in market. In last trade, the intraday high was $42.18, putting the share price 1.65% below its 52-week high and trades 90.08% higher from the lowest price they have traded at during the previous year. The stock has a market capitalization of $11.05 billion, a price-to-earnings ratio of 36.4088 and a beta of 1.50. As earning per share serves as an indicator for company's profitability, analyst have given their estimate trends for the next year with quarterly estimate of $0.77. The High Revenue estimate is predicted as 1.41 Billion, while the Low Revenue Estimate prediction stands at 1.37 Billion.
According to TipRanks.com, Moskowitz is a 5-star analyst with an average return of 11.2% and a 59.0% success rate. That is compared with the $0.55 in EPS it reported during the same period a year ago. (NASDAQ:NTAP) has set to release EPS of $2.57 as per the sentiments of 34 analysts, however according to 35 analysts, the company expected to release $2.88 EPS for next year. The company reported actual earnings per share for the previous quarter of $0.72. Shareholders of record on Friday, January 6th were paid a $0.19 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $0.76 annualized dividend and a yield of 1.87%. NetApp's payout ratio is presently 69.09%. If you are reading this article on another domain, it was copied illegally and republished in violation of United States & global copyright & trademark laws. NTAP Exec VP, Product Operations REICH JOEL D also sold 393 shares, at a stock price of $36.04. Following the completion of the sale, the chief executive officer now directly owns 32,396 shares of the company's stock, valued at approximately $1,247,246. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gerald Held sold 20,000 shares of NetApp stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $36.45, for a total transaction of $729,000.00. For the current year the company has low revenue estimates of $5.3B in contradiction of high revenue estimates of $5.47B. Corporate insiders own 0.49% of the company's stock.
A number of large investors have recently made changes to their positions in NTAP. Evanston Investments Inc. dba Evanston Advisors boosted its position in NetApp by 5.4% in the second quarter. Seven Eight Capital LP bought a new position in shares of NetApp during the fourth quarter worth about $118,000.
Lake Street Capital upgraded shares of NetApp, Inc. Evanston Investments Inc. dba Evanston Advisors now owns 240,627 shares of the data storage provider's stock worth $5,917,000 after buying an additional 12,406 shares in the last quarter. New York Life Trust Co. purchased a new position in NetApp during the third quarter valued at approximately $104,000. Finally, Intellectus Partners LLC bought a new position in shares of NetApp during the fourth quarter worth about $221,000.