NetApp Inc. (NTAP) Given New $57.00 Price Target by Goldman Sachs (GS) Analysts.
Friday, July 01, 2011 12:10 PM

Equities research analysts at Goldman Sachs (NYSE: GS) boosted their price target on shares of NetApp Inc. (NASDAQ: NTAP) to $57.00 in a research note to investors on Friday.

Separately, analysts at Morgan Stanley (NYSE: MS) raised their EPS on shares of NetApp Inc. in a research note to investors on Friday. They now have an "equal weight" rating on the stock. Also, analysts at Auriga reiterated a "hold" rating on shares of NetApp Inc. in a research note to investors on Monday. They now have a $57.00 price target on the stock, up previously from $53.00.

Shares of NetApp Inc. traded up 2.81% during mid-day trading on Monday, hitting $54.265. NetApp Inc. has a 52 week low of $36.33 and a 52 week high of $61.02. The stock's 50-day moving average is $51.75 and its 200-day moving average is $52.56. The company has a market cap of $20.138 billion and a price-to-earnings ratio of 30.87.

NetApp Inc. last announced its quarterly results on Wednesday, May 25th. The company reported $0.59 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.53 EPS by $0.06. The company’s quarterly revenue was up 21.8% on a year-over-year basis. On average, analysts predict that NetApp Inc. will post $0.60 EPS next quarter.

NetApp, Inc. (NetApp) is a provider of storage and data management solutions. The Company offers solutions for storing, managing, protecting and archiving business data. NetApp’s products and services are designed to meet the requirements and service levels of large enterprises and their business applications. The Company offers storage solutions that incorporate its unified storage platform and the functionality of its data and storage resource management software. NetApp markets and sells its storage data management solutions directly through its worldwide sales force and indirectly through channel partners, such as value-added resellers, systems integrators, distributors, original equipment manufacturers (OEMs) and strategic business partners. On May 13, 2010, the Company completed the acquisition of Bycast Inc.

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