Positive Report for NetApp (NTAP) from Susquehanna


In a report released today, Mehdi Hosseini from Susquehanna upgraded NetApp (NTAP) to Buy, with a price target of $75. The company’s shares closed last Monday at $51.98.

According to TipRanks.com, Hosseini is a 4-star analyst with an average return of 9.6% and a 50.5% success rate. Hosseini covers the Consumer Goods sector, focusing on stocks such as Advanced Energy Industries, Hewlett Packard Enterprise, and Applied Materials Inc.

Currently, the analyst consensus on NetApp is a Hold with an average price target of $54.71.

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Based on NetApp’s latest earnings release for the quarter ending July 31, the company reported a quarterly revenue of $1.24 billion and net profit of $103 million. In comparison, last year the company earned revenue of $1.47 billion and had a net profit of $283 million.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NTAP in relation to earlier this year. Last month, Gerald Held, a Director at NTAP sold 10,000 shares for a total of $469,400.

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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