NetApp (NASDAQ:NTAP) PT Set at $137.00 by Northland Securities

NetApp (NASDAQ:NTAP) received a $137.00 price objective from Northland Securities in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the data storage provider’s stock. Northland Securities’ target price would indicate a potential upside of 26.01% from the stock’s current price.

Several other brokerages also recently weighed in on NTAP. Wedbush reissued a “neutral” rating and issued a $110.00 price target on shares of NetApp in a report on Friday, October 10th. Wells Fargo & Company set a $115.00 price target on shares of NetApp and gave the company a “positive” rating in a research note on Wednesday. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Oppenheimer started coverage on NetApp in a research report on Monday, November 17th. They set a “market perform” rating for the company. Finally, Bank of America increased their price objective on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday. Eight analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $123.64.

NetApp Stock Performance

Shares of NetApp stock opened at $108.72 on Wednesday. NetApp has a one year low of $71.84 and a one year high of $131.30. The company has a market capitalization of $21.70 billion, a PE ratio of 19.37, a P/E/G ratio of 2.48 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. The company has a 50-day simple moving average of $116.41 and a two-hundred day simple moving average of $110.17.

NetApp (NASDAQ:NTAP) last posted its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.16. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same quarter in the prior year, the company posted $1.87 earnings per share. NetApp’s revenue for the quarter was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. Research analysts expect that NetApp will post 5.89 EPS for the current fiscal year.

Insider Activity at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $107.48, for a total value of $35,145.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the transaction, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. This trade represents a 3.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 12,183 shares of company stock valued at $1,483,361. 0.28% of the stock is owned by company insiders.

Institutional Trading of NetApp

Several institutional investors have recently made changes to their positions in NTAP. Vanguard Group Inc. lifted its stake in shares of NetApp by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock valued at $2,954,431,000 after purchasing an additional 686,188 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of NetApp by 16.8% in the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock valued at $756,665,000 after acquiring an additional 1,024,626 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in NetApp by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock valued at $623,383,000 after purchasing an additional 72,223 shares during the period. Wellington Management Group LLP grew its stake in NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock valued at $311,529,000 after purchasing an additional 560,218 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.