Needham & Company Sets NetApp Price Target at $38.00 (NTAP)
Analysts at Needham & Company decreased their price target on shares of NetApp (NASDAQ: NTAP) from $49.00 to $38.00 in a research report issued to clients and investors on Thursday. The firm currently has a “buy” rating on the stock.
A number of other analysts have also recently weighed in on NTAP. Analysts at RBC Capital (NYSE: RY) downgraded shares of NetApp from an “outperform” rating to a “sector perform” rating in a research note to investors on Thursday. Separately, analysts at Brean Murray downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Finally, analysts at Piper Jaffray (NYSE: PJC) cut their price target on shares of NetApp from $53.00 to $49.00 in a research note to investors on Monday, May 14th.
NetApp opened at 28.82 on Thursday. NetApp has a 52-week low of $27.79 and a 52-week high of $55.88. The company has a market cap of $10.473 billion and a price-to-earnings ratio of 18.24.
NetApp last posted its quarterly earnings results on Wednesday, May 23rd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.03. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. Analysts expect that NetApp will post $0.49 EPS next quarter.
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.