NetApp (NTAP) Projected to Post Earnings on Thursday

NetApp (NASDAQ:NTAP) will likely be releasing its earnings data after the market closes on Thursday, February 27th. Analysts expect NetApp to post earnings of $1.90 per share and revenue of $1.70 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

NetApp Trading Down 0.7 %

Shares of NASDAQ:NTAP opened at $122.62 on Wednesday. NetApp has a 12-month low of $86.43 and a 12-month high of $135.45. The company has a market capitalization of $24.93 billion, a PE ratio of 22.54, a PEG ratio of 2.45 and a beta of 1.23. The business has a 50 day moving average of $120.07 and a two-hundred day moving average of $122.03. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

Insider Buying and Selling

In related news, CFO Michael J. Berry sold 12,500 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total transaction of $1,509,250.00. Following the completion of the transaction, the chief financial officer now directly owns 123,243 shares in the company, valued at $14,880,359.82. This trade represents a 9.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 451 shares of the firm’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $116.79, for a total value of $52,672.29. Following the transaction, the executive vice president now owns 12,005 shares of the company’s stock, valued at $1,402,063.95. This trade represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,903 shares of company stock valued at $7,260,341. 0.47% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NTAP has been the topic of a number of recent analyst reports. Citigroup increased their target price on NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Wedbush reiterated a “neutral” rating and set a $120.00 target price on shares of NetApp in a research report on Friday, November 22nd. Susquehanna lowered NetApp from a “positive” rating to a “neutral” rating and decreased their target price for the company from $155.00 to $130.00 in a research report on Monday, February 10th. Morgan Stanley increased their target price on NetApp from $132.00 to $146.00 and gave the company an “equal weight” rating in a research report on Tuesday, December 17th. Finally, Oppenheimer initiated coverage on NetApp in a research report on Wednesday, November 13th. They set a “market perform” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $137.33.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.