NetApp (NTAP) to Release 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 $1.69 billion for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

NetApp Stock Down 0.8 %

NetApp stock opened at $123.50 on Tuesday. The business has a fifty day moving average of $120.06 and a two-hundred day moving average of $122.03. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. The firm has a market cap of $25.11 billion, a P/E ratio of 22.70, a P/E/G ratio of 2.45 and a beta of 1.23. NetApp has a twelve month low of $86.43 and a twelve month high of $135.45.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Oppenheimer assumed coverage on NetApp in a research note on Wednesday, November 13th. They issued a “market perform” rating for the company. Wedbush restated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research note on Friday, November 22nd. Barclays raised their target price on NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. Wells Fargo & Company reduced their target price on NetApp from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, February 20th. Finally, StockNews.com upgraded NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, February 19th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, NetApp presently has an average rating of “Hold” and a consensus price target of $137.33.

Insider Buying and Selling at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the sale, the chief executive officer now directly owns 266,765 shares of the company’s stock, valued at approximately $31,755,705.60. The trade was a 3.09 % decrease in their position. The transaction 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 NetApp stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $114.99, for a total transaction of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares of the company’s stock, valued at $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,903 shares of company stock valued at $7,260,341. Corporate insiders own 0.47% of the company’s stock.

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.