PiperJaffray Upgrades NetApp to Overweight with Price Target $46

Brokerage firm PiperJaffray Upgrades its rating on NetApp(NTAP). As per the latest information, PiperJaffray Raises the price target to $46 per share from a prior target of $37. The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by the stock financial advisor at PiperJaffray was issued on Feb 14, 2017 in a research report to their Investors and Clients.

In a different note, On Jan 30, 2017, Goldman Sachs said it Upgrades its rating on NetApp. The shares have been rated ‘Buy’ by the firm.

NetApp (NTAP) made into the market gainers list on Wednesdays trading session with the shares advancing 0.44% or 0.18 points. Due to strong positive momentum, the stock ended at $40.7, which is also near the day’s high of $40.77. The stock began the session at $40.4 and the volume stood at 28,39,641 shares. The 52-week high of the shares is $42.18 and the 52 week low is $22.5. The company has a current market capitalization of $11,208 M and it has 27,53,77,630 shares in outstanding.

NetApp(NTAP) last announced its earnings results on Nov 16, 2016 for Fiscal Year 2017 and Q2.Company reported revenue of $1.34B. Analysts had an estimated revenue of $1.36B. Earnings per share were $0.60. The reported EPS was above estimates by $0.06 or 11.11%. Analysts had estimated an EPS of $0.54.

Several Insider Transactions has been reported to the SEC. On Feb 13, 2017, Matthew K Fawcett (SVP, GC & Secretary) sold 25,000 shares at $39.45 per share price.Also, On Feb 1, 2017, George Kurian (CEO) sold 4,000 shares at $38.50 per share price.On Jan 4, 2017, Joel D Reich (Exec VP, Product Operations) sold 393 shares at $36.04 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.

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