NetApp (NTAP) Shares are Up 22%

NetApp (NTAP) : Traders are bullish on NetApp (NTAP) as it has outperformed the S&P 500 by a wide margin of 30.63% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 22.04%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 22% in the last 1 week, and is up 31.13% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

NetApp, Inc. is up 44.39% in the last 3-month period. Year-to-Date the stock performance stands at 33.66%. The stock has recorded a 20-day Moving Average of 26.03% and the 50-Day Moving Average is 34.7%.


NetApp (NASDAQ:NTAP): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $33.57 and $33.36 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.71, notching a gain of 2.45% for the day. The total traded volume was 8,177,149 . The stock had closed at $33.88 on the previous day.

Also, Barclays maintains its view on NetApp (NASDAQ:NTAP) according to the research report released by the firm to its investors. The shares have now been rated Underweight by the stock experts at the ratings house. Barclays raises the price target from $23 per share to $25 per share on NetApp . The rating by the firm was issued on August 18, 2016.

NetApp, Inc. (NetApp) is engaged in providing software, systems and services to manage and store customer data. The Company offers a portfolio of products and services to a range of customer workloads across various data types and deployment models. Its data management solutions enable customers on-premises or in a public cloud resource to control, integrate, move and manage it. It offers both all-flash arrays and hybrid flash arrays and its portfolio includes hybrid and all-flash storage offerings. The Company also offers FlexPod solutions for workloads, such as big data, HPC and video analytics that integrate Hadoop. Its scale-out fabric-attached storage (FAS) platform uses the NetApp Data ONTAP storage operating system. Its Data ONTAP software delivers data protection, data management and software for virtualized, shared infrastructures, cloud computing and mixed workload business applications. The Company focuses on the data management and storage markets.

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