In a report released yesterday, Matthew Sheerin from Stifel Nicolaus reiterated a Buy rating on NetApp (NASDAQ: NTAP), with a price target of $91. The company’s shares closed yesterday at $82.97, close to its 52-week high of $83.60.
According to TipRanks.com, Sheerin is a 5-star analyst with an average return of 15.8% and a 73.5% success rate. Sheerin covers the Consumer Goods sector, focusing on stocks such as Vishay Intertechnology, TTM Technologies, and Pure Storage Inc.
NetApp has an analyst consensus of Strong Buy, with a price target consensus of $82.72, which is a -0.3% downside from current levels. In a report issued on July 24, Susquehanna also assigned a Buy rating to the stock with a $105 price target.
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Based on NetApp’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $1.64 billion and net profit of $271 million. In comparison, last year the company earned revenue of $1.33 billion and had a net profit of $136 million.
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.
