NetApp, Inc. (NTAP) to Release Earnings on Wednesday

Cornelia Mascio
Novembre 15, 2017

TheStreet upgraded NetApp from a "hold" rating to a "buy" rating in a research note on Wednesday, November 16th. Maxim Group raised shares of NetApp from a "hold" rating to a "buy" rating and lifted their target price for the stock from $46.00 to $56.00 in a report on Monday, August 14th. Citigroup Inc. raised their price objective on shares of NetApp from $41.00 to $43.00 and gave the stock a "neutral" rating in a research note on Thursday, August 17th.

Depending on the earnings numbers reported, NetApp, Inc. (NASDAQ:NTAP), 14 have Buy rating, 8 Sell and 21 Hold. The stock presently has a consensus rating of "Hold" and a consensus price target of $46.00. (NASDAQ:NTAP). The big banks are holding 97.70% of the shares while company insiders are clinging to 0.10%. Shares of NetApp, Inc. are now valued at $45.86 with a furture target price of $47.80 according to research brokerages. The stock has a market cap of $12,500.57, a PE ratio of 19.47, a P/E/G ratio of 1.63 and a beta of 1.16. NetApp has a 1-year low of $33.83 and a 1-year high of $47.20.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, November 16th. (NASDAQ:NTAP) to report on November, 15 after the close. its quarterly earnings Wall Street analysts expect $0.55 EPS, up $0.13 or 30.95 % from last year's $0.42 same quarter earnings. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.32 billion. 1 firm rating the stock a strong buy, one brokerage rating the company a buy, twenty-three brokerages rating the stock a hold, 10 brokers rating the stock a underperform, and finally one analyst rating the company a sell with a 12-month price target of $24.90. They expect $0.55 earnings per share, up 30.95% or $0.13 from last year's $0.42 per share.

As the earnings date approaches, we can see that insider ownership is now 0.10% shares, and institutional ownership is at 97.70% for NetApp, Inc. Over the past twelve months, NetApp, Inc. "(NTAP) Given New $50.00 Price Target at Royal Bank Of Canada" was originally published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another publication, it was copied illegally and reposted in violation of USA and worldwide trademark and copyright law. The original version of this story can be read at https://www.dispatchtribunal.com/2017/11/14/netapp-inc-ntap-position-raised-by-state-of-wisconsin-investment-board.html.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. The ex-dividend date is Wednesday, January 4th. This represents a $0.80 annualized dividend and a yield of 1.75%. NetApp's dividend payout ratio (DPR) is now 38.65%. Also, Director Richard P. Wallace sold 34,000 shares of the company's stock in a transaction on Friday, September 29th. $38.71's average target is -15.85% below currents $46 stock price. Following the sale, the director now directly owns 24,132 shares in the company, valued at approximately $1,050,465.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $37.98, for a total value of $173,568.60. Aberdeen Asset Mngmt Public Ltd Liability Company Uk owns 547,294 shares for 0.07% of their portfolio. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,343 shares of company stock valued at $3,302,273. Morgan Stanley now owns 2,315,447 shares of the data storage provider's stock worth $82,941,000 after buying an additional 1,574,330 shares during the last quarter. Finally, FTB Advisors Inc. raised its stake in NetApp by 50.2% during the third quarter. The firm owned 344,667 shares of the data storage provider's stock after purchasing an additional 11,898 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of NetApp by 0.7% during the 2nd quarter. Reynders Mcveigh Capital Management stated it has 13,500 shares or 0.07% of all its holdings. Breton Hill Capital Ltd. now owns 17,290 shares of the data storage provider's stock worth $692,000 after purchasing an additional 59 shares during the last quarter. (NASDAQ:NTAP). California State Teachers Retirement System holds 0.04% of its portfolio in NetApp Inc.

NetApp, Inc. (NetApp) provides software, systems and services to manage and store customer data.

Hedge funds have recently made changes to their positions in the company.

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