BMO Capital Markets Has Negative Earnings Outlook Update for NetApp (NTAP)
Equities researchers at BMO Capital Markets cut their earnings per share (EPS) estimates on shares of NetApp (NASDAQ: NTAP) in a report issued on Wednesday. The firm currently has an “outperform” rating and a $45.00 target price on the company’s shares.
NetApp opened at 37.78 on Wednesday. NetApp has a 52-week low of $33.00 and a 52-week high of $56.49. The company has a market cap of $13.714 billion and a price-to-earnings ratio of 25.15.
NetApp last posted its quarterly earnings results on Wednesday, February 15th. The company reported $0.58 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.58. NetApp’s revenue was up 21.4% compared to the same quarter last year. Analysts expect that NetApp will post $0.60 EPS next quarter.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse (NYSE: CS) raised their price target on shares of NetApp to $151.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Wunderlich raised their price target on shares of NetApp from $45.00 to $47.00 in a research note to investors on Friday, April 13rd. They now have a “buy” rating on the stock. Finally, analysts at Wunderlich cut their price target on shares of NetApp to $45.00 in a research note to investors on Friday, April 13rd.
NetApp, Inc. (NetApp) is a provider of storage and data management solutions. The Company has a portfolio of application, virtualization, cloud, and service provider solutions.