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A statement released earlier today by Summit Redstone about NetApp Inc. (NASDAQ:NTAP) bumps the target price to $45.00

Summit Redstone raised the price target of NetApp Inc. (NASDAQ:NTAP) to $45.00 indicating a possible upside of 0.28%.

Just yesterday NetApp Inc. (NASDAQ:NTAP) traded 2.80% higher at $35.15. NetApp Inc.’s 50-day moving average is $34.09 and its 200-day moving average is $27.42. The last stock price is up 30.23% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.01% over the same time period. 2,061,334 shares of NTAP traded hands, down from an average trading volume of 2,987,560

Recent Performance Chart

NetApp Inc. (NASDAQ:NTAP)

NetApp Inc. has 52 week low of $20.66 and a 52 week high of $36.10 with a PE ratio of 32.14 and has a market capitalization of $0.

In addition to Summit Redstone reporting its stock price target, a total of 25 brokerages have issued a ratings update on the company. The average stock price target is $24.90 with 1 brokerage rating the stock a strong buy, 1 brokerage rating the stock a buy, 23 brokerages rating the stock a hold, 10 brokerages rating the stock a underperform, and finally 1 brokerage rating the stock a sell.

Brief Synopsis On NetApp Inc. (NASDAQ:NTAP)

NetApp, 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. Its data management and storage offerings help manage business productivity, performance and profitability, while providing investment protection and asset utilization. The Company's FlexPod portfolio includes FlexPod Datacenter for core enterprise data centers and service providers, FlexPod Express for medium-sized businesses and branch offices, and FlexPod Select for data-intensive workloads. The portfolio is validated with hypervisors, operating systems, systems management tools and cloud management platforms.

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