It’s NetApp for Longbow
Longbow upgraded NetApp Inc. (NASDAQ: NTAP) to Buy from Neutral on Friday, in what seems like something of a contrarian call. The $66.05 consensus price target is well below the most recent close, though the street-high target is up at $100. While less than half of the analysts surveyed recommend buying shares, the sentiment has improved somewhat from last month.
On Friday, the shares saw a new 52-week high of $71.68. They have changed hands as low as $34.66 apiece in the past year. Note that the stock is up almost 8% year to date, the same as the Nasdaq in that time.
Goldman Sachs Favors Palantir Technologies
Palantir Technologies Inc. (NYSE: PLTR) was upgraded to Buy from Neutral at Goldman Sachs, which also raised its price target to $34 on Wednesday. The firm appears to be bucking the trend here, as other analysts have been less enthusiastic lately. The software company posted strong results, but with a weak revenue forecast, and shares pulled back as the lockup period expired.
The consensus price target of $25.83 suggests that the analysts see no upside, even after shares retreated around 9% in the past week. Shares have traded as high as $45.00 and as low as $8.90 since coming public via a direct listing last year.
BofA Securities Recommends Seagate Technology
BofA Securities upgraded Seagate Technology PLC (NASDAQ: STX) from Underperform all the way to Buy on Thursday, and the firm maintained its street-high $90 price objective. Also this past week, Craig Hallum boosted its target price from $78 to $90, and it has a Buy rating as well. These firms are bucking the trend here, as 19 out of 27 analysts surveyed recommend holding shares, and the consensus price target is down at $67.43.
The data storage company posted better than expected fiscal second-quarter earnings last month, and the share price is more than 20% higher since then. The stock has traded mostly between $71 and $73 in the past week, and it has a 52-week trading range of $39.02 to $77.07. That high came in the wake of the quarterly report.
Deutsche Bank Sticks With Square
Deutsche reiterated its Buy rating on Bank Square Inc. (NYSE: SQ) on Wednesday, and it lifted its price target from $255 to a street-high $330 per share. The firm sees this mobile payments company as a recovery story, and this call came ahead of the earnings report expected next week. Late last month, Sanford C. Bernstein reiterated its Outperform rating and $266 target price. The consensus recommendation is to buy shares, though the sentiment has weakened somewhat recently. The consensus target price is only $229.20.
The stock is up around 27% year to date and recently traded at a multiyear high of $283.19. That is almost 776% higher than the 52-week low of $32.33, which was seen during the market selloff in March of last year.