NetApp (NTAP) Receives Price Target

NetApp (NTAP) : The most positive equity analysts on NetApp (NTAP) expects the shares to touch $40, whereas, the least positive believes that the stock will trade at $22 in the short term. The company is covered by 17 Wall Street Brokerage Firms. The average price target for shares are $28.88 with an expected fluctuation of $5.21 from the mean.

NetApp (NTAP) : 2 brokerage houses believe that NetApp (NTAP) is a Strong Buy at current levels. 18 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on NetApp (NTAP). Zacks Investment Research suggests a Strong Buy with a rank of 1. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 6 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 27 Wall Street Analysts endorse the stock as a Hold with a rating of 3.33.


Also, Barclays maintains their rating on the shares of NetApp (NASDAQ:NTAP). The current rating of the shares is Underweight. Equity Analysts at the Firm raises the price target to $25 per share from $23 per share. The rating by the firm was issued on August 18, 2016.

NetApp (NASDAQ:NTAP): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.74 and $34.43 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $34.99. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.93, notching a gain of 0.98% for the day. The total traded volume was 2,336,913 . The stock had closed at $34.59 on the previous day.

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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