Maxim Group Sticks to Their Buy Rating for NetApp (NTAP)


In a report released today, Nehal Chokshi from Maxim Group maintained a Buy rating on NetApp (NTAP), with a price target of $70. The company’s shares closed last Monday at $46.47, close to its 52-week low of $44.55.

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 3.8% and a 48.9% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.

The word on The Street in general, suggests a Hold analyst consensus rating for NetApp with a $57.53 average price target, a 25.8% upside from current levels. In a report issued on August 2, Credit Suisse also maintained a Buy rating on the stock with a $62 price target.

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NetApp’s market cap is currently $10.68B and has a P/E ratio of 11.92. The company has a Price to Book ratio of 10.23.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock.

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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