NetApp (NTAP) was Downgraded by Sterne Agee CRT to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Sterne Agee CRT advised their investors in a research report released on Apr 18, 2016.
Many Wall Street Analysts have commented on NetApp. NetApp was Downgraded by Macquarie to ” Underperform” on Mar 21, 2016. Shares were Reiterated by Barclays on Feb 18, 2016 to “Underweight” and Lowered the Price Target to $ 23 from a previous price target of $25 .Shares were Downgraded by Robert W. Baird on Feb 18, 2016 to ” Neutral” and Lowered the Price Target to $ 27 from a previous price target of $35 .
On the company’s financial health, NetApp reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 17, 2016. Analyst had a consensus of $0.68. The company had revenue of $1386.00 million for the quarter, compared to analysts expectations of $1452.70 million. The company’s revenue was down -10.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.75 EPS.
NetApp closed down -0.52 points or -2.03% at $25.12 with 31,58,462 shares getting traded on Friday. Post opening the session at $25.64, the shares hit an intraday low of $25.06 and an intraday high of $25.64 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Dec 28, 2015, Joel D Reich (Exec VP, Product Operations) sold 1,821 shares at $26.64 per share price. According to the SEC, on Sep 29, 2015, Matthew K Fawcett (SVP, GC & Secretary) sold 6,633 shares at $29.49 per share price. On Jul 6, 2015, George T Shaheen (director) sold 35,000 shares at $31.78 per share price, according to the Form-4 filing with the securities and exchange commission.
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.