NetApp Stock Hits New 52-Week High (NTAP)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- NetApp (Nasdaq: NTAP) hit a new 52-week high Thursday as it is currently trading at $38.21, above its previous 52-week high of $37.02 with 7.4 million shares traded as of 11:26 a.m. ET. Average volume has been 6.9 million shares over the past 30 days.

NetApp has a market cap of $12.9 billion and is part of the technology sector and computer hardware industry. Shares are up 6.6% year to date as of the close of trading on Wednesday.

NetApp, Inc. engages in design, manufacture, marketing, and technical support of networked storage solutions. The company supply enterprise storage and data management software, and hardware products and services. The company has a P/E ratio of 25.9, above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates NetApp as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full NetApp Ratings Report.

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