In yesterday’s Wall Street session, NetApp Inc. (NASDAQ:NTAP) shares traded at $62.98, down -0.16% from the previous session.
As of this writing, 24 analysts cover NetApp Inc. (NASDAQ:NTAP). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $110.00 and a low of $65.00, we find $78.00. Given the previous closing price of $63.08, this indicates a potential upside of 23.65 percent. NTAP stock price is now -6.99% away from the 50-day moving average and -12.40% away from the 200-day moving average. The market capitalization of the company currently stands at $14.03B.
There are 14 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $78.65 as their price target over the next twelve months.
On October 31, 2022, Jefferies recently initiated its ‘Buy’ rating on the stock quoting a target price of $88, while ‘Susquehanna’ rates the stock as ‘Neutral’.
In other news, Palin Carrie, Director sold 2,707 shares of the company’s stock on Dec 05. The stock was sold for $174,063 at an average price of $64.30. Upon completion of the transaction, the Director now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 05, Chief Executive Officer Kurian George sold 4,500 shares of the business’s stock. A total of $293,805 was realized by selling the stock at an average price of $65.29. This leaves the insider owning 159,226 shares of the company worth $10.03 million. Insiders disposed of 286,016 shares of company stock worth roughly $18.01 million over the past 1 year. A total of 0.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in NTAP stock. A new stake in NetApp Inc. shares was purchased by VARMA MUTUAL PENSION INSURANCE CO during the first quarter worth $36,917,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $15,106,000 in shares of NTAP during the first quarter. In the first quarter, BAKER AVENUE ASSET MANAGEMENT, LP acquired a new stake in NetApp Inc. valued at approximately $3,758,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in NTAP for approximately $3,659,000. TREDJE AP-FONDEN purchased a new stake in NTAP valued at around $2,675,000 in the second quarter. In total, there are 992 active investors with 90.60% ownership of the company’s stock.
Wednesday morning saw NetApp Inc. (NASDAQ: NTAP) opened at $62.68. During the past 12 months, NetApp Inc. has had a low of $60.56 and a high of $96.82. As of last week, the company has a debt-to-equity ratio of 1.99, a current ratio of 1.40, and a quick ratio of 1.30. The fifty day moving average price for NTAP is $67.72 and a two-hundred day moving average price translates $71.78 for the stock.
The latest earnings results from NetApp Inc. (NASDAQ: NTAP) was released for Jul, 2022. According to the Computer Hardware Company, earnings per share came in at $1.2, beating analysts’ expectations of $1.1 by 0.1. This compares to $0.98 EPS in the same period last year. The net profit margin was 22.50% and return on equity was 164.90% for NTAP. The company reported revenue of $1.66 billion for the quarter, compared to $1.57 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.19 percent. For the current quarter, analysts expect NTAP to generate $1.68B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/25/2023. Investors who held shares on 01/06/2023 were paid a $0.50 dividend. On an annualized basis, this represents a $2.00 dividend and a 3.18% percent yield. There was an ex-dividend date of 01/05/2023 for this dividend. In terms of dividend payout ratio, NTAP is presently at 29.80%.
NetApp Inc.(NTAP) Company Profile
NetApp, Inc. provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire. It also provides cloud storage and data services comprising NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, NetApp Cloud Volumes Service for Google Cloud, NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Cloud Backup, NetApp Cloud Data Sense, and NetApp Cloud Volumes Edge Cache; and cloud operations services, such as NetApp Cloud Insights, Spot Ocean Kubernetes Suite, Spot Security, Spot Eco, and Spot CloudCheckr. In addition, the company offers application-aware data management service under the NetApp Astra name; and professional and support services, such as strategic consulting, professional, managed, and support services. Further, it provides assessment, design, implementation, and migration services. The company serves the energy, financial service, government, technology, internet, life science, healthcare service, manufacturing, media, entertainment, animation, video postproduction, and telecommunication markets through a direct sales force and an ecosystem of partners. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.