NetApp (NTAP) Projected to Post Earnings on Thursday

NetApp (NASDAQ:NTAP) is expected to be releasing its earnings data after the market closes on Thursday, February 27th. Analysts expect NetApp to post earnings of $1.90 per share and revenue of $1.70 billion for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

NetApp Stock Down 0.7 %

NASDAQ:NTAP opened at $122.62 on Wednesday. NetApp has a twelve month low of $86.43 and a twelve month high of $135.45. The company has a market cap of $24.93 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The stock has a fifty day simple moving average of $120.07 and a 200-day simple moving average of $122.03. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39.

Insider Buying and Selling at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $124.29, for a total transaction of $1,056,465.00. Following the sale, the chief executive officer now owns 279,782 shares in the company, valued at approximately $34,774,104.78. The trade was a 2.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $114.99, for a total value of $2,529,780.00. Following the sale, the president now owns 27,099 shares in the company, valued at $3,116,114.01. The trade was a 44.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,903 shares of company stock worth $7,260,341 over the last quarter. Insiders own 0.47% of the company’s stock.

Wall Street Analyst Weigh In

NTAP has been the subject of several research analyst reports. Keefe, Bruyette & Woods upgraded NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Barclays lifted their target price on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. TD Cowen lifted their target price on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Northland Securities lifted their target price on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, November 22nd. Finally, Wells Fargo & Company cut their price target on NetApp from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 20th. Eleven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $137.33.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.