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Goldman Sachs Has Started Coverage on NetApp (NASDAQ:NTAP) with Neutral and with $64.0 Target

Goldman Sachs Analyst Rating Change NetApp NASDAQ:NTAP

NetApp (NASDAQ:NTAP) Price Target & New Coverage by Goldman Sachs

Analysts at Goldman Sachs has started coverage on shares of Netapp (NASDAQ:NTAP) in a report issued on Wednesday, 7 February. The firm set Neutral rating on the stock. Goldman Sachs’s price target of $64.0 suggests potential of 11.05 % from the stock’s previous stock close.

The initiation is well-received by equity traders, as NASDAQ:NTAP is now trading 0.44% higher at $45.82 as of 4:06 PM New York time. NetApp’s stock is 0% in the last 200 days. It has underperformed the S&P 500 Index, which has surged 6.00% in the same time.

Out of 25 analysts covering NetApp, 2 rate it a Buy, 23 indicate a Hold while 11 suggest a Sell. The highest target is $40 and the lowest is $18 according to Thomson/First Call. The 12-month mean target is $24.9, which means downside potential of 45.66% over the current price.

Institutional Ownership

Sirios Capital Management L P had the biggest stake with ownership of 2.60 million shares as of q2 2015 for 5.2% of the portfolio. Aimz Investment Advisors Llc is another bullish active investment manager who is having 85,337 shares of NetApp or 2.73% of their portfolio. Also, Evanston Investments Inc. Dba Evanston Advisors have 2.46% of their portfolio invested in the company for 218,664 shares. The Florida-based fund Lyons Wealth Management Llc. revealed it had purchased so far a stake worth about 2.43% of the active investment manager’s stock portfolio in NetApp. The Texas-based fund Petrus Trust Company Lta is also positive about the stock, possessing 49,245 shares or 2.29% of their portfolio.

NetApp (NASDAQ:NTAP) Profile

Netapp IncNetApp, Inc. (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

NetApp (NASDAQ:NTAP) traded up 0.44% on 7 February, hitting $45.82. A total of 30 shares of the company’s stock traded hands. This is down from average of 2.36M shares. NetApp has a 52 week low of $34.38 and a 52 week high of $47.2. The company has a market cap of $12.36B and a P/E ratio of 22.07.

Get the latest NetApp (NASDAQ:NTAP) Stock Ratings at Octafinance. Completely free access to our Analyst Ratings Database for 6000+ stocks.

The post Goldman Sachs Has Started Coverage on NetApp (NASDAQ:NTAP) with Neutral and with $64.0 Target appeared first on Octafinance.

This post first appeared on Octafinance – Financial News, Reports And Intell, please read the originial post: here

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Goldman Sachs Has Started Coverage on NetApp (NASDAQ:NTAP) with Neutral and with $64.0 Target


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