News articles about NetApp (NASDAQ:NTAP) have trended somewhat positive on Wednesday, according to Accern Sentiment. The research group rates the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. NetApp earned a news impact score of 0.17 on Accern’s scale. Accern also gave press coverage about the data storage provider an impact score of 46.4738265761316 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
These are some of the news stories that may have impacted Accern Sentiment’s scoring:
- NetApp, Inc. (NTAP) Expected to Post Earnings of $0.69 Per Share (americanbankingnews.com)
- RSI discloses NetApp, Inc. (NTAP) stock could lead to a down move – Voice Of Analysts (analystsbuzz.com)
- NetApp, Inc. (NTAP) Upgraded to Buy at Zacks Investment Research (americanbankingnews.com)
- NetApp, Inc. (NTAP) Stock Rating Lowered by Zacks Investment Research (americanbankingnews.com)
- NetApp, Inc. $NTAP Position Lessened by Numeric Investors LLC https://t.co/D2kzkgvHbn (4-traders.com)
Several brokerages have recently issued reports on NTAP. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $50.00 price target (up from $48.00) on shares of NetApp in a report on Wednesday, August 16th. Stifel Nicolaus reissued a “hold” rating and issued a $37.00 price objective on shares of NetApp in a research note on Wednesday, August 16th. Barclays PLC raised their price objective on NetApp from $35.00 to $38.00 and gave the company an “underweight” rating in a research note on Thursday, August 17th. Lake Street Capital raised their price objective on NetApp from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Drexel Hamilton reissued a “buy” rating and issued a $62.00 price objective (up from $60.00) on shares of NetApp in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $45.12.
NetApp (NTAP) opened at 43.66 on Wednesday. The firm has a 50-day moving average price of $41.10 and a 200-day moving average price of $40.79. NetApp has a 1-year low of $30.36 and a 1-year high of $45.24. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 21.08 and a beta of 1.26.
NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 16th. The data storage provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.07. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. NetApp had a return on equity of 24.13% and a net margin of 10.47%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. On average, analysts expect that NetApp will post $3.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Friday, October 6th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, October 5th. NetApp’s dividend payout ratio (DPR) is 38.65%.
In related news, EVP Henri P. Richard sold 1,976 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $43.41, for a total transaction of $85,778.16. Following the sale, the executive vice president now owns 19,788 shares of the company’s stock, valued at approximately $858,997.08. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard P. Wallace sold 34,000 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $43.53, for a total value of $1,480,020.00. Following the sale, the director now directly owns 24,132 shares in the company, valued at approximately $1,050,465.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,450 shares of company stock worth $2,250,560. 0.47% of the stock is currently owned by company 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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