NetApp (NTAP) Earns Coverage Optimism Rating of 0.09

Media coverage about NetApp (NASDAQ:NTAP) has trended somewhat positive recently, Accern Sentiment Analysis reports. The research group identifies positive and negative press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. NetApp earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned headlines about the data storage provider an impact score of 45.7563443244326 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the news headlines that may have impacted Accern’s scoring:

Several research firms have recently commented on NTAP. DA Davidson restated a “buy” rating and issued a $51.00 target price on shares of NetApp in a research note on Monday, October 2nd. Drexel Hamilton restated a “buy” rating and issued a $62.00 target price on shares of NetApp in a research note on Monday, September 25th. Robert W. Baird restated a “hold” rating and issued a $46.00 target price (up previously from $44.00) on shares of NetApp in a research note on Wednesday, October 4th. Oppenheimer restated a “hold” rating on shares of NetApp in a research note on Wednesday, October 4th. Finally, BMO Capital Markets restated a “hold” rating and issued a $43.00 target price on shares of NetApp in a research note on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $50.15.

Shares of NetApp (NASDAQ NTAP) traded up $0.74 during midday trading on Thursday, hitting $57.81. 2,711,268 shares of the stock were exchanged, compared to its average volume of 2,168,067. The stock has a market capitalization of $14,825.62, a P/E ratio of 24.81, a PEG ratio of 1.80 and a beta of 1.29. NetApp has a 1-year low of $35.08 and a 1-year high of $58.99. The company has a current ratio of 1.67, a quick ratio of 1.64 and a debt-to-equity ratio of 0.55.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Wednesday, November 15th. The data storage provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $1.42 billion during the quarter, compared to the consensus estimate of $1.38 billion. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 earnings per share. analysts expect that NetApp will post 2.72 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, January 4th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.38%. NetApp’s dividend payout ratio (DPR) is presently 34.33%.

In related news, Director Thomas Michael Nevens sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $55.67, for a total value of $1,113,400.00. Following the completion of the sale, the director now directly owns 17,000 shares in the company, valued at $946,390. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $52.50, for a total transaction of $3,937,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,604 shares of company stock valued at $10,389,277. Insiders own 0.47% of the company’s stock.

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NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

Insider Buying and Selling by Quarter for NetApp (NASDAQ:NTAP)

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