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Upgrade Alert for NetApp (NTAP)

By David Diaz

NetApp (NASDAQ:NTAP) was upgraded from Neutral to Positive at Susquehanna today. The stock closed yesterday at $33.88 on volume of 16.2 million shares, above average daily volume of 2.8 million.

NetApp, Inc. provides storage and data management solutions. The Company's storage solutions include specialized hardware, software, and services that provide storage management for open network environments. NetApp serves enterprises, government agencies, and universities worldwide.

NetApp (NASDAQ:NTAP) defies analysts with a current price ($33.88) 0.7% above its average consensus price target of $33.65. NetApp shares have support at the 200-day moving average (MA) of $28.21 and additional support at the 50-day MA of $25.61.

In the past 52 weeks, shares of NetApp have traded between a low of $20.66 and a high of $36.98 and closed yesterday at $33.88, which is 64% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 0.5%.

SmarTrend recommended that subscribers consider buying shares of NetApp on May 25th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $25.81. Since that recommendation, shares of NetApp have risen 11.8%. We continue to monitor NTAP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades NetApp

Ticker(s): NTAP