Brokerage Firm Rating Update on NetApp (NTAP)

NetApp (NTAP) : 27 analysts are covering NetApp (NTAP) and their average rating on the stock is 3.33, 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 1, which recommends a Strong Buy affirms that they expect a large upside in the stock from the current levels. However, 6 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 18 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

NetApp (NTAP) : The highest short term price target forecast on NetApp (NTAP) is $40 and the lowest target price is $22. A total of 17 equity analysts are currently covering the company. The average price of all the analysts is $28.88 with a standard deviation of $5.21.


Company shares have received an average consensus rating of Hold for the current week Also, Barclays maintains its rating on NetApp (NASDAQ:NTAP). The global brokerage major raises the current price target from $23 per share to $25 per share. Analysts at the Barclays have a current rating of Underweight on the shares. The rating by the firm was issued on August 18, 2016.

NetApp (NASDAQ:NTAP): The stock opened at $35.1 and touched an intraday high of $35.68 on Wednesday. During the day, the stock corrected to an intraday low of $35.03, however, the bulls stepped in and pushed the price higher to close in the green at $35.46 with a gain of 1.11% for the day. The total traded volume for the day was 3,066,099. The stock had closed at $35.07 in the previous trading session.

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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