NetApp (NTAP) is Downgraded by RBC Capital Mkts to Sector Perform, Lowers Price Target to $28

NetApp (NTAP) is Downgraded by RBC Capital Mkts to Sector Perform according to the research report released to the investors. The Brokerage Firm has Lowered the Price Target of the company shares to $28 from a previous price target of $38 . Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of NetApp, Inc. (NASDAQ:NTAP) ended Thursday session in red amid volatile trading. The shares closed down 0.64 points or 2.21% at $28.3 with 3,897,615 shares getting traded. Post opening the session at $29.06, the shares hit an intraday low of $28.075 and an intraday high of $29.062 and the price vacillated in this range throughout the day. The company has a market cap of $8,273 million and the number of outstanding shares has been calculated to be 292,344,150 shares. The 52-week high of NetApp, Inc. (NASDAQ:NTAP) is $43.46 and the 52-week low is $28.3.

During the last several months other analysts have commented on the company rating. BMO Capital initiates coverage on NetApp, Inc. (NASDAQ:NTAP) The current rating of the shares is Market Perform. Equity Analysts at the Firm announces the price target to $32 per share. The rating by the firm was issued on December 11, 2015.

As many as 27 brokerage firms have rated NetApp, Inc. (NASDAQ:NTAP) at 3.12. Research Analysts at Zacks have ranked the company at 3, suggesting the traders with a rating of hold for the short term. 6 rated the company as strong sell. Sell was recommended by 1 analysts. The stock garnered a place in the hold list of 15 stock Analysts. 1 analysts suggested buying the company. 4 analysts rated the company as a strong buy.

NetApp, Inc. (NASDAQ:NTAP): According to 17 Analysts, The short term target price has been estimated at $ 33.29.The target price could deviate by a maximum of $5.19 from the forecast price. In the near term, the target price could hit a high of $45 and a low of $ 24.

NetApp, Inc. has lost 6.26% in the last five trading days and dropped 9.58% in the last 4 weeks. NetApp, Inc. has dropped 9.24% during the last 3-month period . Year-to-Date the stock performance stands at -30.33%.

NetApp, Inc. (NetApp) is a provider of storage and data management software, systems and services. The Company’s fabric-attached storage (FAS) platform offers the storage platform for business applications, shared infrastructures and cloud environments. NetApp is an original equipment manufacturer (OEM) storage provider and enables OEMs to offer information technology (IT) and storage solutions that serve markets and customer requirements. The Company offers two storage product lines. The FAS architecture utilizes the Data ONTAP storage operating system. Data ONTAP delivers data protection, data management, and built-in software for virtualized, shared infrastructures, cloud computing, and mixed workload business applications. Its E-Series platform with SANtricity storage management software offers storage for SAN workloads. In addition, the Company’s all-flash storage array architecture, FlashRay provides capabilities to the all-flash market.