NetApp Inc. (NASDAQ: NTAP) had its price target raised by equities researchers at Susquehanna from $36.00 to $42.00. With a rating of Positive on the shares, NetApp Inc. has a 52-week high of $36.09. As a means of comparison, a number of other analysts have spoken on the stock in recent days, and NetApp Inc. has secured a consensus one-year price target of $30.75, lower than the opening price of $35.37.
The Fed stood pat on interest rates on Wednesday, helping stocks to mostly higher levels but Chairwoman Janet Yellen indicated an interest rate hike is likely by year’s end
On Wednesday, the S&P 500 SPX, +1.09% ended 1.1% higher, while the Dow DJIA, +0.90% jumped by 0.9%, or 164 points, as each exchange finished in positive territory for a second consecutive day.
The tech-heavy Nasdaq Composite COMP, +1.03% tacked on 1% and scored a record closing high.
S&P 500 futures ESZ6, +0.36% were up 6.55 points, or 0.3%, to 2,162.75 early Thursday, while Dow Jones Industrial Average futures YMZ6, +0.37% rose 58 points, or 0.3%, to 18,276. Nasdaq-100 futures NQZ6, +0.39% gained 16.25 points, or 0.3%, to 4,866.25.
Yesterday NetApp Inc. (NASDAQ: NTAP) shares last traded at $35.71, an increase of $0.73 over the previous closing price. Opening at $35.37, they fluctuated from $35.27 and $36.05 throughout the day.
NetApp Inc. (NASDAQ: NTAP) now has a market cap of 9.95B.
The stock’s average daily volume is 3,145,880 shares out of a total float 278,327,000 and some 3,763,114 shares crossed the trading desk yesterday, higher than the norm. Substantial increases in trading volume and price inflation together could signal heavy volume aggregation by institutional investors.
As with all possible breakouts, investors look for volume to be at least 40%-50% greater than normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts that investigate thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Traders are able to make make well planned trades when they follow the trading habits of professional investors.
Trades for NetApp Inc. (NASDAQ: NTAP) have ranged from $20.66 – 36.090, and the stock now has a 50-day MA of $32.68 and 200-day MA of $27.04. Today’s last price is 0.01% under the 52 week high of $36.09.
Earnings growth is an important factor to look at when buying stocks and investors look for companies that have grown their earnings by at least 25% over the past 3 years.
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