NetApp (NTAP): Price Target and June Short Interest Disclosure

NetApp (NTAP) : 18 investment research analysts covering NetApp (NTAP) have an average price target of $25.72 for the near short term. The highest target price given by the Brokerage Firm to the stock is $39 and the lowest target is $20 for the short term. Analysts expect the variance to be within $4.92 of the average price.

The short interest in NetApp (NTAP) has declined from 19,806,173 on June 15,2016 to 17,888,016 on June 30,2016. The change was measured at 1,918,157 shares or 9.7%. The leftover shorts were 6.4% of the floated shares. The days to cover are 5, given the average daily volume of 3,931,218 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, Brokerage firm Goldman Sachs maintains its rating on NetApp (NASDAQ:NTAP). As per the latest information, the brokerage house lowers the price target to $23 per share from a prior target of $24. The shares have been rated Sell. The rating by the firm was issued on May 26, 2016.


NetApp (NASDAQ:NTAP): On Thursdays trading session , Opening price of the stock was $25.67 with an intraday high of $25.73. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $25.18. However, the stock managed to close at $25.29, a loss of 0.86% for the day. On the previous day, the stock had closed at $25.51. The total traded volume of the day was 3,154,806 shares.

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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