Cross Research Upgrades NetApp to Buy

Brokerage firm Cross Research Upgrades its rating on NetApp(NASDAQ:NTAP). The shares have been rated Buy. Previously, the analysts had a Hold rating on the shares. The rating by Cross Research was issued on Sep 26, 2016.

In a different note, On Sep 26, 2016, Deutsche Bank said it Downgrades its rating on NetApp. The shares have been rated ‘Sell’ by the firm. On Aug 18, 2016, Goldman Sachs said it Maintains its rating on NetApp. In the research note, the firm Raises the price-target to $23.00 per share. The shares have been rated ‘Sell’ by the firm. On Aug 18, 2016, Summit Redstone Partners said it Maintains its rating on NetApp. In the research note, the firm Raises the price-target to $20.00 per share. The shares have been rated ‘Sell’ by the firm. On Aug 18, 2016, Citigroup said it Maintains its rating on NetApp. In the research note, the firm Raises the price-target to $26.00 per share. The shares have been rated ‘Neutral’ by the firm. On Aug 18, 2016, BTIG Research said it Maintains its rating on NetApp. The shares have been rated ‘Neutral’ by the firm. On Aug 18, 2016, UBS said it Maintains its rating on NetApp. In the research note, the firm Raises the price-target to $20.00 per share. The shares have been rated ‘Sell’ by the firm.

NetApp (NTAP) made into the market gainers list on Thursdays trading session with the shares advancing 0.71% or 0.255 points. Due to strong positive momentum, the stock ended at $35.96, which is also near the day’s high of $36.1. The stock began the session at $35.88 and the volume stood at 17,97,051 shares. The 52-week high of the shares is $36.09 and the 52 week low is $20.66. The company has a current market capitalization of $10,021 M and it has 27,86,67,890 shares in outstanding.

NetApp(NTAP) last announced its earnings results on Aug 17, 2016 for Fiscal Year 2017 and Q1.Company reported revenue of $1.29B. Analysts had an estimated revenue of $1.26B. Earnings per share were $0.46. Analysts had estimated an EPS of $0.36.

Several Insider Transactions has been reported to the SEC. On Aug 24, 2016, Jeffry R Allen (director) sold 40,000 shares at $35.10 per share price.Also, On Aug 23, 2016, Joel D Reich (Exec VP, Product Operations) sold 489 shares at $33.97 per share price.On Jun 7, 2016, Matthew K Fawcett (SVP, GC & Secretary) sold 17,808 shares at $24.98 per share price, according to the Form-4 filing with the securities and exchange commission.

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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