NetApp (NTAP) Receives a Buy from Morgan Stanley

Morgan Stanley analyst Kathryn Huberty maintained a Buy rating on NetApp (NTAPResearch Report) today and set a price target of $90.00. The company’s shares closed last Friday at $63.56.

According to TipRanks.com, Huberty is a 5-star analyst with an average return of 13.9% and a 62.2% success rate. Huberty covers the Technology sector, focusing on stocks such as International Business Machines, Hewlett Packard Enterprise, and Dell Technologies.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NetApp with a $71.29 average price target, implying a 14.3% upside from current levels. In a report issued on February 19, Longbow Research also upgraded the stock to Buy.

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Based on NetApp’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $1.42 billion and net profit of $137 million. In comparison, last year the company earned revenue of $1.37 billion and had a net profit of $243 million.

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NetApp, Inc. engages in the design, manufacture, marketing, and technical support of storage and data management solutions. It offers cloud data services, data storage software, data backup and recovery, all-flash storage, converged systems, data infrastructure management, ONTAP data security, and hybrid flash storage. The company was founded by David Hitz, James K. Lau and Michael Malcolm in April 1992 and is headquartered in Sunnyvale, CA.