Analysts Set NetApp, Inc. (NASDAQ:NTAP) Price Target at $120.43

NetApp, Inc. (NASDAQ:NTAP) has been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the company, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $124.0714.

Several brokerages recently commented on NTAP. Wedbush reaffirmed a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research note on Friday, October 10th. Morgan Stanley set a $117.00 price target on shares of NetApp in a report on Thursday, August 28th. UBS Group increased their price objective on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday. Argus restated a “buy” rating and set a $130.00 target price on shares of NetApp in a research report on Friday, August 29th. Finally, Barclays upped their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the sale, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the transaction, the executive vice president owned 23,628 shares of the company’s stock, valued at $2,922,074.76. This trade represents a 4.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,183 shares of company stock valued at $1,483,361 in the last quarter. Corporate insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On NetApp

Several hedge funds have recently added to or reduced their stakes in the company. Patton Fund Management Inc. purchased a new stake in NetApp during the second quarter valued at about $265,000. Aurora Investment Counsel purchased a new position in shares of NetApp in the second quarter worth about $2,337,000. Citizens Financial Group Inc. RI lifted its stake in shares of NetApp by 6.5% in the 1st quarter. Citizens Financial Group Inc. RI now owns 60,457 shares of the data storage provider’s stock valued at $5,311,000 after acquiring an additional 3,704 shares during the last quarter. Edmond DE Rothschild Holding S.A. boosted its holdings in NetApp by 17.7% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 814,697 shares of the data storage provider’s stock valued at $71,563,000 after acquiring an additional 122,784 shares during the period. Finally, Dynamic Technology Lab Private Ltd boosted its holdings in NetApp by 119.3% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 5,869 shares of the data storage provider’s stock valued at $516,000 after acquiring an additional 3,193 shares during the period. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $111.61 on Wednesday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp has a fifty-two week low of $71.84 and a fifty-two week high of $131.30. The stock has a market cap of $22.28 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. The stock has a fifty day moving average of $115.50 and a 200-day moving average of $110.24.

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

NetApp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, January 2nd. NetApp’s dividend payout ratio (DPR) is currently 36.17%.

NetApp Company Profile

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.