NetApp (NTAP) : Analyst Rating Update

NetApp (NTAP) : 27 analysts are covering NetApp (NTAP) and their average rating on the stock is 3.41, which is read as a Hold. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 7 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 17 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

NetApp (NTAP) : Currently there are 18 street experts covering NetApp (NTAP) stock. The most bullish and bearish price target for the stock is $39 and $20 respectively for the short term. The average price target of all the analysts comes to $25.72. The estimated standard deviation from the target is $4.92.

NetApp (NASDAQ:NTAP): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.38 and $23.08 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.63. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.61, notching a gain of 0.55% for the day. The total traded volume was 2,388,473 . The stock had closed at $23.48 on the previous day.

Also, Goldman Sachs maintains its view on NetApp (NASDAQ:NTAP) according to the research report released by the firm to its investors. The shares have now been rated Sell by the stock experts at the ratings house. Goldman Sachs lowers the price target from $24 per share to $23 per share on NetApp . The rating by the firm was issued on May 26, 2016. The company shares have dropped -23.27% from its 1 Year high price. On Oct 23, 2015, the shares registered one year high at $34.81 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.64 and the 200 Day Moving Average price is recorded at $24.55.

NetApp, Inc. (NetApp) is engaged in providing software, systems and services to manage and store customer data. The Company offers a portfolio of products and services to a range of customer workloads across various data types and deployment models. Its data management solutions enable customers on-premises or in a public cloud resource to control, integrate, move and manage it. It offers both all-flash arrays and hybrid flash arrays and its portfolio includes hybrid and all-flash storage offerings. The Company also offers FlexPod solutions for workloads, such as big data, HPC and video analytics that integrate Hadoop. Its scale-out fabric-attached storage (FAS) platform uses the NetApp Data ONTAP storage operating system. Its Data ONTAP software delivers data protection, data management and software for virtualized, shared infrastructures, cloud computing and mixed workload business applications. The Company focuses on the data management and storage markets.

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