RBC Capital Cuts NetApp to Sector Perform (NTAP)

By admin | 6 years ago

NetApp (NASDAQ: NTAP) was downgraded by analysts at RBC Capital (NYSE: RY) from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Thursday.

A number of other analysts have also recently weighed in on NTAP. Analysts at Brean Murray downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Separately, 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. Finally, analysts at BMO Capital Markets cut their EPS estimates on shares of NetApp in a research note on Wednesday. They now have an “outperform” rating and a $45.00 price target on the stock.

NetApp traded down 0.97% on Thursday, hitting $28.54. NetApp has a 1-year low of $27.79 and a 1-year high of $55.88. The company has a market cap of $10.371 billion and a price-to-earnings ratio of 18.24.

NetApp last released its earnings data 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.

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