Credit Suisse Reaffirms Their Buy Rating on NetApp (NTAP)

By Ryan Adsit

Credit Suisse analyst Matthew Cabral maintained a Buy rating on NetApp (NTAPResearch Report) yesterday and set a price target of $70.00. The company’s shares closed last Monday at $60.56.

According to TipRanks.com, Cabral is a 4-star analyst with an average return of 11.0% and a 82.6% success rate. Cabral covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Dell Technologies, and Pure Storage.

NetApp has an analyst consensus of Moderate Buy, with a price target consensus of $64.57.

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The company has a one-year high of $78.35 and a one-year low of $44.55. Currently, NetApp has an average volume of 2.12M.

Based on the recent corporate insider activity of 41 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.