Netapp Inc (NASDAQ:NTAP) shares traded 2.07% higher at $91.39 on Wall Street last session.
In accordance with the data, 22 analysts cover Netapp Inc (NASDAQ:NTAP). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $100.00 and a low of $73.00, we find $85.50. Given the previous closing price of $89.54, this indicates a potential downside of -4.51 percent. NTAP stock price is now 20.33% away from the 50-day moving average and 27.31% away from the 200-day moving average. The market capitalization of the company currently stands at $19.08B.
It has been rated a hold by 15 analysts and a buy by 4. Brokers who have rated the stock have averaged $87.11 as their price target over the next twelve months.
With the price target enhanced from $90 to $100, TD Cowen maintained Outperform rating for Netapp Inc (NASDAQ: NTAP).
In other news, Kurian George, Chief Executive Officer sold 3,825 shares of the company’s stock on Nov 07. The stock was sold for $289,439 at an average price of $75.67. Upon completion of the transaction, the Chief Executive Officer now directly owns 263,811 shares in the company, valued at $24.11 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 10, Chief Executive Officer Kurian George sold 4,500 shares of the business’s stock. A total of $343,180 was realized by selling the stock at an average price of $76.26. This leaves the insider owning 267,636 shares of the company worth $24.46 million. Insiders disposed of 441,818 shares of company stock worth roughly $40.38 million over the past 1 year. A total of 0.33% of the company’s stock is owned by insiders.
Netapp Inc (NASDAQ: NTAP) opened at $89.27 on Thursday. During the past 12 months, Netapp Inc has had a low of $58.08 and a high of $91.35. As of last week, the company has a debt-to-equity ratio of 3.11, a current ratio of 1.07, and a quick ratio of 1.04. According to the stock market information, the enterprise value for the company is $18.85B, which is based on a 28.42 price-to-earnings ratio, a 3.23 price-to-earnings-growth ratio, and a beta of 1.25. The fifty day moving average price for NTAP is $76.25 and a two-hundred day moving average price translates $71.91 for the stock.
The latest earnings results from Netapp Inc (NASDAQ: NTAP) was released for Oct, 2023. According to the Computer Hardware Company, earnings per share came in at $1.58, beating analysts’ expectations of $1.39 by 0.19. This compares to $0.96 EPS in the same period last year. The net profit margin was 11.36% and return on equity was 70.18% for NTAP. The company reported revenue of $1.43 billion for the quarter, compared to $1.59 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -10.05 percent. For the current quarter, analysts expect NTAP to generate $1.59B in revenue.
