NetApp (NASDAQ:NTAP) received a $79.00 price objective from stock analysts at Credit Suisse Group in a research note issued to investors on Thursday, The Fly reports. The brokerage currently has an “outperform” rating on the data storage provider’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 27.44% from the stock’s current price.

A number of other analysts have also issued reports on NTAP. BidaskClub upgraded shares of NetApp from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 13th. Goldman Sachs Group lowered shares of NetApp from a “conviction-buy” rating to a “buy” rating in a research note on Thursday. Piper Jaffray Companies dropped their price target on shares of NetApp from $90.00 to $81.00 and set an “overweight” rating for the company in a research note on Friday, May 17th. Bank of America dropped their price target on shares of NetApp from $80.00 to $78.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Lake Street Capital lowered shares of NetApp from a “buy” rating to a “hold” rating and dropped their price target for the stock from $69.00 to $65.00 in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. NetApp has an average rating of “Hold” and a consensus price target of $77.00.

NTAP opened at $61.99 on Thursday. The company has a market cap of $15.31 billion, a PE ratio of 20.73, a PEG ratio of 1.01 and a beta of 1.40. NetApp has a 52-week low of $54.50 and a 52-week high of $88.08. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.53 and a current ratio of 1.56.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, May 22nd. The data storage provider reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.03). The firm had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.64 billion. NetApp had a net margin of 16.85% and a return on equity of 60.32%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 EPS. Equities research analysts predict that NetApp will post 4.04 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in NTAP. Shelton Capital Management bought a new stake in NetApp during the first quarter valued at $25,000. Cresset Asset Management LLC bought a new stake in NetApp during the first quarter valued at $27,000. Group One Trading L.P. increased its stake in NetApp by 196.9% during the first quarter. Group One Trading L.P. now owns 443 shares of the data storage provider’s stock valued at $31,000 after purchasing an additional 900 shares during the last quarter. Lindbrook Capital LLC bought a new stake in NetApp during the fourth quarter valued at $32,000. Finally, Destination Wealth Management increased its stake in NetApp by 53.3% during the first quarter. Destination Wealth Management now owns 460 shares of the data storage provider’s stock valued at $32,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 91.87% of the company’s stock.

NetApp Company Profile

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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The Fly

Analyst Recommendations for NetApp (NASDAQ:NTAP)

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