Robert W. Baird analyst Jayson Noland reiterated a Hold rating on NetApp (NASDAQ: NTAP) today and set a price target of $68. The company’s shares closed yesterday at $66.79.
Noland noted:
“We maintain our Neutral rating based on difficult storage market dynamics but note that NetApp and Pure have distanced themselves from rivals.”
According to TipRanks.com, Noland is a 5-star analyst with an average return of 17.5% and a 63.2% success rate. Noland covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Palo Alto Networks, and Juniper Networks.
Currently, the analyst consensus on NetApp is Strong Buy and the average price target is $75, representing a 12.3% upside.
In a report released yesterday, Oppenheimer also assigned a Hold rating to the stock.
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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 2.84M.
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.
