Short Term Price Target on NetApp (NTAP)

NetApp (NASDAQ:NTAP) : Currently there are 18 street experts covering NetApp (NASDAQ:NTAP) stock. The most bullish and bearish price target for the stock is $39 and $20 respectively for the short term. The average price target of all the analysts comes to $25.72. The estimated standard deviation from the target is $4.92.

NetApp, Inc. has lost 5.5% in the last five trading days and dropped 1.91% in the last 4 weeks. NetApp, Inc. has dropped 8.2% during the last 3-month period . Year-to-Date the stock performance stands at -6.02%. Also, Goldman Sachs maintains its rating on NetApp (NASDAQ:NTAP). The global brokerage major lowers the current price target from $24 per share to $23 per share. Analysts at the Goldman Sachs have a current rating of Sell on the shares. The rating by the firm was issued on May 26, 2016.

NetApp (NASDAQ:NTAP) has an average broker rating of 3.41, which is interpreted as a Hold, as rated by 27 equity analysts. Nonetheless, 2 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Nevertheless, the majority of 17 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold. 7 brokerage firm advices Strong Sell on the share due to lack of confidence about the future of the company. 1 considers that the stock is a Sell.

NetApp (NASDAQ:NTAP): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $24.40 and $24.04 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $24.62. The buying momentum continued till the end and the stock did not give up its gains. It closed at $24.59, notching a gain of 0.49% for the day. The total traded volume was 3,496,141 . The stock had closed at $24.47 on the previous day.

In an insider trading activity,The officer (Exec VP, Product Operations) of Netapp, Inc., Reich Joel D sold 2,500 shares at $24.97 on June 6, 2016. The Insider selling transaction had a total value worth of $62,425. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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