NetApp, Inc. (NTAP) PT Set at $53.00 by DA Davidson

NetApp Inc. (NTAP) Shares Pop as Q2 Earnings Gain 35% Y/Y

NetApp, Inc. (NTAP) PT Set at $53.00 by DA Davidson

(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.

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.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, August 16th. Exane Derivatives now owns 2,398 shares of the data storage provider's stock valued at $105,000 after purchasing an additional 2,394 shares in the last quarter. NetApp had a net margin of 10.47% and a return on equity of 24.13%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. For the last period, the company reported quarter over quarter EPS growth of 115.60% and quarter over quarter sales growth of 2.40%. The business's quarterly revenue was down 7.3% compared to the same quarter previous year. NetApp now has a consensus rating of "Hold" and an average price target of $33.03.

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The company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.15) by $0.05. Finally, California State Teachers Retirement System increased its position in Pure Storage by 110.1% in the second quarter.

Over the past 50 days, NetApp, Inc. stock was -2.84% off of the high and 22.13% removed from the low. (NTAP) opened at $46.00 on Tuesday. NetApp, Inc. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.47 and a quick ratio of 1.44. The company has a market cap of $12,500.57, a PE ratio of 19.47, a PEG ratio of 1.63 and a beta of 1.16. Investors of record on Friday, October 6th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.11%. NetApp's dividend payout ratio (DPR) is presently 38.65%.

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In other news, EVP Henri P. Richard sold 1,976 shares of NetApp stock in a transaction on Monday, October 2nd.

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Let's also take a brief look at the stock price in relation to some highs/lows and moving averages. Following the completion of the sale, the director now directly owns 24,132 shares of the company's stock, valued at approximately $1,050,465.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO George Kurian sold 4,570 shares of the business's stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $37.98, for a total value of $173,568.60. BlackRock Institutional Trust Company N.A. now owns 9,225,320 shares of the data storage provider's stock worth $226,851,000 after buying an additional 1,189,529 shares during the last quarter. The disclosure for this sale can be found here. The company's stock had a trading volume of 2,232,273 shares, compared to its average volume of 2,921,085. On the other hand, company insiders are holding 0.10%.

A number of equities research analysts have recently commented on the stock. BidaskClub raised NetApp from a "hold" rating to a "buy" rating in a research note on Wednesday, July 19th. Longbow Research upgraded NetApp from a "neutral" rating to a "buy" rating and set a $50.00 price target on the stock in a report on Tuesday, August 15th. Maxim Group reissued a buy rating and issued a $56.00 price objective on shares of NetApp in a research report on Friday, October 27th.

In related news, SVP Matthew K. Fawcett sold 29,845 shares of the company's stock in a transaction on Thursday, November 9th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and fourteen have given a buy rating to the stock. The stock now has a consensus rating of "Hold" and an average target price of $45.85. Louisiana State Employees Retirement System now owns 16,800 shares of the data storage provider's stock worth $673,000 after purchasing an additional 100 shares during the last quarter. The Firm enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

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