NetApp (NTAP) Earns Coverage Optimism Score of 0.18
Press coverage about NetApp (NASDAQ:NTAP) has been trending somewhat positive this week, Accern reports. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. NetApp earned a news impact score of 0.18 on Accern’s scale. Accern also assigned news headlines about the data storage provider an impact score of 45.6542091062783 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news stories that may have impacted Accern’s rankings:
- 5 Nasdaq Stocks That Helped the Index Outperform in 2017 (finance.yahoo.com)
- Pre-Market Technical Scan on Tech Equities — ViaSat, RadiSys, Silver Spring Networks, and NetApp (bizjournals.com)
- Free Post Earnings Research Report: Teradata Reported Better than Expected Results (finance.yahoo.com)
- NetApp, Inc. (NTAP) Sees Significant Growth in Short Interest (americanbankingnews.com)
- Language and Technology Professionals Meet to Discuss an AI-Driven Future (prweb.com)
Several analysts have commented on NTAP shares. Deutsche Bank raised their target price on shares of NetApp from $27.00 to $37.00 and gave the stock a “sell” rating in a report on Thursday, November 16th. Royal Bank of Canada raised their target price on shares of NetApp from $45.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, November 13th. Morgan Stanley restated an “underweight” rating on shares of NetApp in a report on Saturday, September 23rd. BMO Capital Markets upgraded shares of NetApp from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $43.00 to $62.00 in a report on Thursday, November 16th. Finally, ValuEngine downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. NetApp presently has an average rating of “Hold” and a consensus target price of $49.39.
NetApp (NTAP) traded down $0.10 during midday trading on Friday, hitting $57.27. 5,077,786 shares of the stock were exchanged, compared to its average volume of 3,000,052. The company has a quick ratio of 1.64, a current ratio of 1.67 and a debt-to-equity ratio of 0.55. NetApp has a 12 month low of $35.08 and a 12 month high of $58.99. The firm has a market capitalization of $15,415.23, a P/E ratio of 21.72, a PEG ratio of 1.87 and a beta of 1.28.
NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The company had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the company earned $0.60 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. sell-side analysts predict that NetApp will post 2.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a yield of 1.40%. NetApp’s payout ratio is 34.33%.
In related news, VP Joel D. Reich sold 3,371 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $53.17, for a total transaction of $179,236.07. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $42.01, for a total transaction of $83,011.76. Following the transaction, the executive vice president now owns 17,812 shares in the company, valued at $748,282.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,036 shares of company stock worth $10,171,008. 0.47% of the stock is owned by corporate insiders.
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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