Deutsche Bank Keeps Their Sell Rating on NetApp

By Carrie Williams

Deutsche Bank analyst Sherri Scribner maintained a Sell rating on NetApp (NASDAQ: NTAP) today and set a price target of $40. The company’s shares opened today at $54.57.

According to TipRanks.com, Scribner is a 4-star analyst with an average return of 11.4% and a 63.7% success rate. Scribner covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Sanmina-Sci Corp, and TE Connectivity.

NetApp has an analyst consensus of Moderate Buy, with a price target consensus of $62.82.

NetApp’s market cap is currently $16.19B and has a P/E ratio of 26.03. The company has a book value ratio of 5.8303.

Based on the recent corporate insider activity of 68 insiders, corporate insider sentiment is negative on the stock. Last month, Joel Reich, the Exec VP, Product Operations of NTAP sold 6,500 shares for a total of $362,684.

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 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.