Morgan Stanley Downgrades NetApp: Here's What You Need To Know

Morgan Stanley downgraded its rating of NetApp NTAP to Underweight with a price target of $58.00, changing its price target from $66.00 to $58.00.

Shares of NetApp are trading up 0.69% over the last 24 hours, at $65.74 per share.

A move to $58.00 would account for a 11.77% decline from the current share price.

About NetApp

NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating business units are products, software maintenance, and hardware maintenance. NetApp transitioned from a data center storage firm to a company with software data management solutions for multicloud environments. The California-headquartered company sells globally and has approximately 10,000 employees.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.