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Barclays Keeps Their Buy Rating on NetApp (NTAP)

Tipranks - Tipranks - Thu Jun 25, 3:48AM CDT

In a report released today, Tim Long from Barclays maintained a Buy rating on NetApp, with a price target of $199.00.

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Long covers the Technology sector, focusing on stocks such as Apple, Motorola Solutions, and F5, Inc.. According to TipRanks, Long has an average return of 20.8% and a 61.79% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NetApp with a $171.31 average price target.

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Based on NetApp’s latest earnings release for the quarter ending April 24, the company reported a quarterly revenue of $1.95 billion and a net profit of $404 million. In comparison, last year the company earned a revenue of $1.73 billion and had a net profit of $340 million

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NTAP in relation to earlier this year. Earlier this month, Gerald Held, a Director at NTAP sold 7,132.00 shares for a total of $1,283,760.00.

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