In yesterday’s Wall Street session, NetApp Inc. (NASDAQ:NTAP) shares traded at $68.74, up 3.76% from the previous session.
22 analysts cover NetApp Inc. (NASDAQ:NTAP), according to research data. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $86.00 and a low of $58.00, we find $70.00. Given the previous closing price of $66.25, this indicates a potential upside of 5.66 percent. NTAP stock price is now 7.70% away from the 50-day moving average and 3.81% away from the 200-day moving average. The market capitalization of the company currently stands at $14.86B.
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The stock has received a hold rating from 12 analysts and a buy rating from 6. Brokers who have rated the stock have averaged $70.50 as their price target over the next twelve months.
In other news, Kurian George, Chief Executive Officer sold 2,250 shares of the company’s stock on May 15. The stock was sold for $145,125 at an average price of $64.50. Upon completion of the transaction, the Chief Executive Officer now directly owns 147,064 shares in the company, valued at $10.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 09, Chief Executive Officer Kurian George sold 2,250 shares of the business’s stock. A total of $142,852 was realized by selling the stock at an average price of $63.49. This leaves the insider owning 140,420 shares of the company worth $9.65 million. Insiders disposed of 188,325 shares of company stock worth roughly $12.95 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 DEPRINCE RACE & ZOLLO INC during the first quarter worth $25,339,000. QUBE RESEARCH & TECHNOLOGIES LTD invested $21,417,000 in shares of NTAP during the first quarter. In the first quarter, CHURCHILL MANAGEMENT CORP acquired a new stake in NetApp Inc. valued at approximately $7,090,000. TREXQUANT INVESTMENT LP acquired a new stake in NTAP for approximately $6,108,000. EXODUSPOINT CAPITAL MANAGEMENT, LP purchased a new stake in NTAP valued at around $3,739,000 in the second quarter.
On Thursday morning NetApp Inc. (NASDAQ: NTAP) stock kicked off with the opening price of $66.66. During the past 12 months, NetApp Inc. has had a low of $58.08 and a high of $79.09. As of last week, the company has a debt-to-equity ratio of 2.17, a current ratio of 1.30, and a quick ratio of 1.30. According to the stock market information, the enterprise value for the company is $13.63B, which is based on a 11.87 price-to-earnings ratio, a 1.58 price-to-earnings-growth ratio, and a beta of 1.17. The fifty day moving average price for NTAP is $63.98 and a two-hundred day moving average price translates $66.20 for the stock.
The latest earnings results from NetApp Inc. (NASDAQ: NTAP) was released for Jan, 2023. According to the Computer Hardware Company, earnings per share came in at $1.37, beating analysts’ expectations of $1.31 by 0.06. This compares to $1.10 EPS in the same period last year. The net profit margin was 19.90% and return on equity was 135.60% for NTAP. The company reported revenue of $1.53 billion for the quarter, compared to $1.61 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -5.45 percent. For the current quarter, analysts expect NTAP to generate $1.54B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 04/26/2023. Investors who held shares on 04/06/2023 were paid a $0.50 dividend. On an annualized basis, this represents a $2.00 dividend and a 2.91% percent yield. There was an ex-dividend date of 04/05/2023 for this dividend. In terms of dividend payout ratio, NTAP is presently at 33.90%.
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.
