NetApp (NTAP) Shares Slide -0.45%

NetApp (NTAP) has risen sharply, recording gains of 8.48% in the past 4 weeks. However, the stock has corrected -0.45% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 4.95% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

The stock has recorded a 20-day Moving Average of 4.64% and the 50-Day Moving Average is 6.27%. NetApp, Inc. is up 12.3% in the last 3-month period. Year-to-Date the stock performance stands at 1.47%.


NetApp (NASDAQ:NTAP): On Fridays trading session , Opening price of the stock was $26.33 with an intraday high of $26.49. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $25.88. However, the stock managed to close at $26.35, a loss of 0.08% for the day. On the previous day, the stock had closed at $26.37. The total traded volume of the day was 2,755,388 shares.

Also, Goldman Sachs maintains their rating on the shares of NetApp (NASDAQ:NTAP). The current rating of the shares is Sell. Equity Analysts at the Firm lowers the price target to $23 per share from $24 per share. The rating by the firm was issued on May 26, 2016.

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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