Price Target Update on NetApp (NASDAQ:NTAP)

NetApp (NASDAQ:NTAP) : 18 Wall Street analysts covering NetApp (NASDAQ:NTAP) believe that the average level the stock could reach for the short term is $25.72. The maximum price target given is $39 and the minimum target for short term is around $20, hence the standard deviation is calculated at $4.92.

Other Equity analysts have also commented on the company shares. In a research note released to the investors, Goldman Sachs maintains its rating on NetApp (NASDAQ:NTAP).The analysts at the brokerage house have a current rating of Sell on the shares. In a recent information released to the investors, Goldman Sachs lowers the new price target from $24 per share to $23 per share. The rating by the firm was issued on May 26, 2016.

NetApp (NASDAQ:NTAP): stock turned positive on Thursday. Though the stock opened at $25.47, the bulls momentum made the stock top out at $26.03 level for the day. The stock recorded a low of $25.26 and closed the trading day at $26.02, in the green by 3.29%. The total traded volume for the day was 2,376,976. The stock had closed at $25.19 in the previous days trading.

The company shares have dropped -22.85% from its 1 Year high price. On Oct 23, 2015, the shares registered one year high at $34.81 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.34 and the 200 Day Moving Average price is recorded at $24.93. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Reich Joel D, officer (Exec VP, Product Operations) of Netapp, Inc., had unloaded 2,500 shares at an average price of $24.97 in a transaction dated on June 6, 2016. The total value of the transaction was worth $62,425.

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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