Oppenheimer Keeps Their Hold Rating on NetApp (NTAP)

Oppenheimer analyst Ittai Kidron maintained a Hold rating on NetApp (NTAP) yesterday. The company’s shares closed last Monday at $40.72, close to its 52-week low of $34.66.

According to TipRanks.com, Kidron is a top 25 analyst with an average return of 29.6% and a 69.5% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Cambium Networks.

The word on The Street in general, suggests a Hold analyst consensus rating for NetApp with a $58.82 average price target, implying a 41.2% upside from current levels. In a report issued on March 26, Barclays also maintained a Hold rating on the stock with a $47.00 price target.

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Based on NetApp’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $1.4 billion and net profit of $277 million. In comparison, last year the company earned revenue of $1.56 billion and had a net profit of $249 million.

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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. The company was founded by David Hitz, James K. Lau and Michael Malcolm in April 1992 and is headquartered in Sunnyvale, CA.

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