Favorable Media Coverage Very Likely to Affect NetApp (NTAP) Stock Price
Media headlines about NetApp (NASDAQ:NTAP) have trended positive on Sunday, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. NetApp earned a news sentiment score of 0.37 on Accern’s scale. Accern also gave headlines about the data storage provider an impact score of 85 out of 100, meaning that recent news coverage is very likely to have an effect on the company’s share price in the next few days.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Tale of the Ticker: NetApp Inc (NTAP) Moves on Volume – Evergreen Caller (evergreencaller.com)
- Netapp Inc Set to Possibly Pullback After Yesterday’s Rally of 1.31% (mysmartrend.com)
- NetApp : Combined Synopsis/Solicitation – NetApp (4-traders.com)
- Diehard Bargain Hunter: NetApp, Inc. (NASDAQ:NTAP), DiamondRock Hospitality Company (NYSE:DRH) – AllStockNews (allstocknews.com)
- Netapp Inc (NASDAQ:NTAP) Institutional Investors Quarterly Sentiment – Weekly Register (weeklyregister.com)
A number of equities analysts recently issued reports on NTAP shares. Stifel Nicolaus reiterated a “hold” rating and issued a $37.00 target price on shares of NetApp in a report on Friday, May 26th. Zacks Investment Research upgraded NetApp from a “sell” rating to a “hold” rating in a report on Monday, May 8th. Drexel Hamilton reissued a “buy” rating and issued a $62.00 price target on shares of NetApp in a research report on Wednesday, May 24th. Credit Suisse Group raised NetApp from an “underperform” rating to a “neutral” rating and increased their price target for the company from $35.00 to $37.00 in a research report on Thursday, May 25th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $45.00 price target on shares of NetApp in a research report on Friday, June 9th. Five equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $41.42.
Shares of NetApp (NTAP) traded up 1.94% during mid-day trading on Friday, hitting $39.87. The stock had a trading volume of 8,417,822 shares. The company has a market cap of $10.76 billion, a PE ratio of 22.03 and a beta of 1.21. The stock’s 50-day moving average is $39.68 and its 200 day moving average is $39.16. NetApp has a 12 month low of $22.89 and a 12 month high of $43.14.
NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Wednesday, May 24th. The data storage provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. NetApp had a return on equity of 21.66% and a net margin of 9.22%. The company had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same period in the prior year, the company earned $0.55 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that NetApp will post $3.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This is a positive change from NetApp’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 2.01%. NetApp’s dividend payout ratio is presently 41.99%.
In related news, Director Jeffry R. Allen sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $40.46, for a total transaction of $809,200.00. Following the completion of the transaction, the director now directly owns 8,500 shares of the company’s stock, valued at $343,910. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO George Kurian sold 4,000 shares of the stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $41.53, for a total value of $166,120.00. Following the transaction, the chief executive officer now directly owns 24,396 shares of the company’s stock, valued at $1,013,165.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,862 shares of company stock valued at $1,882,464. 0.49% of the stock is owned by corporate insiders.
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NetApp Company Profile
NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.
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