NetApp Receives a Hold from Robert W. Baird

Robert W. Baird analyst Jayson Noland reiterated a Hold rating on NetApp (NASDAQ: NTAP) today. The company’s shares closed yesterday at $34.79, close to its 52-week high of $36.10.

According to TipRanks.com, Noland is a 4-star analyst with an average return of 10.5% and a 58.7% success rate. Noland covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Riverbed Technology, and Palo Alto Networks.

Currently, the analyst consensus on NetApp is Hold and the average price target is $30.38, representing a -12.7% downside.

In a report issued on September 27, Jefferies also reiterated a Hold rating on the stock with a $34 price target.

Based on NetApp`s latest earnings report from July 31, the company posted quarterly revenue of $1.29B and quarterly net profit of $64M. In comparison, last year the company earned revenue of $1.34B and had a net profit of -$30M.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock. Last month, Robert Wall, a a Director at NTAP sold 22,944 shares for a total of $813,365.

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.