Oppenheimer analyst George Iwanyc assigned a Hold rating to NetApp (NASDAQ: NTAP) yesterday. The company’s shares closed yesterday at $66.79.
Iwanyc noted:
“NetApp delivered another solid quarter ahead of consensus and provided in-line FY19 guidance. Strategic product growth remains a bright spot (+25.0% YoY to $745M; AFA at a $2.4B annualized run-rate), mature products have stabilized (+3.9% the strong overall execution (product and go-to-market) is helping NetApp gain share across all key products and regions. The company also noted signs of good customer interest in its new HCI products and cloud services (AWS is commercially available; in private preview), though it’s still early days for both. While high expectations relative to the in-line guide could weigh on the shares near term, we remain positive on the company’s growth strategy and developing TAM (HCI, CDS). a positive bias.”
According to TipRanks.com, Iwanyc is a 2-star analyst with an average return of 35.2% and a 100.0% success rate. Iwanyc covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ceragon Networks, and Allot.
NetApp has an analyst consensus of Strong Buy, with a price target consensus of $75.
See today’s analyst top recommended stocks >>
The company has a one-year high of $72.85 and a one-year low of $37.43. Currently, NetApp has an average volume of 2.85M.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. Last month, George Kurian, the CEO of NTAP sold 7,020 shares for a total of $434,819.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
NetApp, Inc. engages in the provision of software, systems, and services for the management and storage of customer data. The company’s products include hybrid, enterprise all-flash, and cloud storages. Its patented unified scale-out fabric-attached storage platform uses the NetApp Data ONTAP storage operating system.
