NetApp Inc. (NASDAQ:NTAP) – Equities researchers at Piper Jaffray Companies lowered their Q1 2020 earnings per share estimates for NetApp in a research report issued on Friday, May 17th. Piper Jaffray Companies analyst A. Nowinski now anticipates that the data storage provider will earn $0.87 per share for the quarter, down from their previous forecast of $0.91. Piper Jaffray Companies has a “Overweight” rating and a $81.00 price objective on the stock. Piper Jaffray Companies also issued estimates for NetApp’s Q4 2020 earnings at $1.29 EPS.
Other equities research analysts also recently issued research reports about the company. BidaskClub upgraded NetApp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 27th. Credit Suisse Group assumed coverage on NetApp in a research report on Thursday, April 11th. They set an “outperform” rating and a $89.00 price target on the stock. Bank of America lowered their price target on NetApp from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Zacks Investment Research upgraded NetApp from a “sell” rating to a “hold” rating in a research report on Monday, February 18th. Finally, BMO Capital Markets lowered their price target on NetApp to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, February 14th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. NetApp has an average rating of “Hold” and an average price target of $77.04.
NASDAQ NTAP opened at $69.99 on Monday. NetApp has a twelve month low of $54.50 and a twelve month high of $88.08. The company has a current ratio of 1.56, a quick ratio of 1.53 and a debt-to-equity ratio of 0.93. The stock has a market cap of $17.06 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 0.99 and a beta of 1.40.
A number of large investors have recently made changes to their positions in NTAP. Shelton Capital Management purchased a new position in NetApp during the 1st quarter valued at about $25,000. Cresset Asset Management LLC purchased a new position in NetApp during the 1st quarter valued at about $27,000. Group One Trading L.P. increased its holdings in NetApp by 196.9% during the 1st quarter. Group One Trading L.P. now owns 443 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 900 shares during the period. Lindbrook Capital LLC purchased a new position in NetApp during the 4th quarter valued at about $32,000. Finally, Destination Wealth Management increased its holdings in NetApp by 53.3% during the 1st quarter. Destination Wealth Management now owns 460 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 160 shares during the period. Institutional investors own 93.97% of the company’s stock.
NetApp Company Profile
NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.
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