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Standpoint Research downgraded NetApp (NASDAQ:NTAP) from Buy to Hold in a statement released earlier today.

Standpoint Research has downgraded NetApp (NASDAQ:NTAP) from Buy to Hold in a statement released on Friday September 30, 2016.

Having a price of $34.73, NetApp (NASDAQ:NTAP) traded 2.80% higher on the day. The last stock close price is up 30.23% from the two hundred day average, compared with the S&P 500 Index which has decreased -0.01% over the same period. NTAP has recorded a 50-day moving average of $34.09 and a 200-day moving average of $27.42. 2,061,334 shares of NetApp traded, down from an avg. trading volume of 2,987,560

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NetApp (NASDAQ:NTAP)

NetApp has 52 week low of $20.66 and a 52 week high of $36.10 with a P/E ratio of 32.14 and has a total market value of $0.

In addition to Standpoint Research reporting its target price, a total of 25 analysts have released a research note on NTAP. The one year target is $24.90 with one analyst rating the company a strong buy, 1 broker rating the stock a buy, twenty-three firms rating the stock a hold, ten equity analysts rating the company a underperform, and lastly 1 analyst rating the company a sell.

General Information About NetApp (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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