Somewhat Favorable Media Coverage Somewhat Unlikely to Affect NetApp (NTAP) Stock Price
News articles about NetApp (NASDAQ:NTAP) have been trending somewhat positive recently, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. NetApp earned a news impact score of 0.10 on Accern’s scale. Accern also gave news coverage about the data storage provider an impact score of 45.5966403215756 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Here are some of the media stories that may have impacted Accern Sentiment’s analysis:
- NetApp Inc. (NTAP) Given Average Rating of “Hold” by Brokerages (americanbankingnews.com)
- Insider Selling: NetApp Inc. (NTAP) VP Sells 6,500 Shares of Stock (americanbankingnews.com)
- NetApp Inc. (NTAP) CEO George Kurian Sells 7,020 Shares (americanbankingnews.com)
- Insider Selling: NetApp Inc. (NTAP) Director Sells 20,000 Shares of Stock (americanbankingnews.com)
NetApp (NTAP) traded up $0.80 during trading on Monday, reaching $59.65. 3,281,048 shares of the company were exchanged, compared to its average volume of 2,426,580. NetApp has a fifty-two week low of $35.08 and a fifty-two week high of $59.74. The stock has a market cap of $15,910.00, a price-to-earnings ratio of 25.60, a price-to-earnings-growth ratio of 1.91 and a beta of 1.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.67 and a quick ratio of 1.64.
NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business had revenue of $1.42 billion during the quarter, compared to analyst estimates of $1.38 billion. During the same period in the previous year, the business earned $0.60 EPS. NetApp’s revenue was up 6.1% compared to the same quarter last year. equities research analysts anticipate that NetApp will post 2.72 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a $0.20 dividend. The ex-dividend date is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a yield of 1.34%. NetApp’s dividend payout ratio is 34.33%.
Several equities analysts recently weighed in on NTAP shares. UBS Group raised shares of NetApp from a “neutral” rating to a “buy” rating and raised their price target for the company from $42.00 to $45.00 in a research report on Tuesday, September 19th. Morgan Stanley reaffirmed an “underweight” rating on shares of NetApp in a research report on Saturday, September 23rd. Drexel Hamilton reaffirmed a “buy” rating and issued a $62.00 price target on shares of NetApp in a research report on Monday, September 25th. DA Davidson reaffirmed a “buy” rating and issued a $51.00 price target on shares of NetApp in a research report on Monday, October 2nd. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $46.00 price target (up previously from $44.00) on shares of NetApp in a research report on Wednesday, October 4th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $50.15.
In related news, VP Joel D. Reich sold 3,371 shares of NetApp stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $53.17, for a total value of $179,236.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joel D. Reich sold 15,000 shares of NetApp stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $56.99, for a total transaction of $854,850.00. Following the completion of the transaction, the vice president now owns 441 shares of the company’s stock, valued at $25,132.59. The disclosure for this sale can be found here. Insiders sold a total of 197,604 shares of company stock valued at $10,389,277 over the last quarter. 0.47% of the stock is owned by company 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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