NetApp (NTAP) Receives a Rating Update from a Top Analyst


In a report released yesterday, Amit Daryanani from RBC Capital reiterated a Hold rating on NetApp (NASDAQ: NTAP), with a price target of $85. The company’s shares closed yesterday at $82.59, close to its 52-week high of $83.60.

According to TipRanks.com, Daryanani is a top 25 analyst with an average return of 25.5% and a 82.9% success rate. Daryanani covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Ichor Holdings Ltd, and Texas Instruments.

Currently, the analyst consensus on NetApp is a Strong Buy with an average price target of $83.33.

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NetApp’s market cap is currently $21.72B and has a P/E ratio of 359.09. The company has a Price to Book ratio of 10.51.

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 6,000 shares for a total of $468,960.

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 design, manufacture, marketing, and technical support of storage and data management solutions. It offers cloud data services, data storage software, data backup and recovery, all-flash storage, converged systems, data infrastructure management, ONTAP data security, and hybrid flash storage.

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