NetApp Receives a Hold from BMO Capital

BMO Capital analyst Tim Long maintained a Hold rating on NetApp (NASDAQ: NTAP) today and set a price target of $23. The company’s shares closed yesterday at $25.52.

According to TipRanks.com, Long is a 4-star analyst with an average return of 2.9% and a 45.1% success rate. Long covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Triquint Semiconductor, and Riverbed Technology.

Currently, the analyst consensus on NetApp is Hold and the average price target is $23.80, representing a -6.7% downside

. In a report released today, JMP Securities also maintained a Hold rating on the stock with a $24 price target.

Based on NetApp`s latest earnings report from January 31, the company posted quarterly revenue of $1.39B and quarterly net profit of $153M. In comparison, last year the company earned revenue of $1.54B and had a net profit of $134.9M.

Like BMO Capital`s latest rating, based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is neutral on the stock. Most recently, in December 2015, Joel Reich, a the Exec VP, Product Operations of NTAP sold 1,821 shares for a total of $48,497.

NetApp, Inc. engages in the provision of software, systems, and services for the management and storage of customer data. The company’s products include hybrid, enterprise all-flash, and cloud storages. Its patented unified scale-out fabric-attached storage platform uses the NetApp Data ONTAP storage operating system. The company was founded by David Hitz, James K. Lau and Michael Malcolm in April 1992 and is headquartered in Sunnyvale, CA.