NetApp, Inc. (NASDAQ:NTAP) Receives $124.33 Average Target Price from Brokerages

Shares of NetApp, Inc. (NASDAQ:NTAP) have been given an average recommendation of “Moderate Buy” by the eighteen research firms that are presently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $123.9286.

Several research firms have commented on NTAP. Oppenheimer reissued a “market perform” rating on shares of NetApp in a research report on Wednesday, November 26th. Citigroup dropped their target price on NetApp from $130.00 to $125.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. The Goldman Sachs Group started coverage on NetApp in a report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. UBS Group increased their price objective on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Finally, Northland Securities set a $137.00 target price on shares of NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total transaction of $103,450.00. Following the sale, the executive vice president directly owned 20,075 shares in the company, valued at $2,076,758.75. The trade was a 4.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The SEC filing for this sale provides additional information. Insiders have sold 2,654 shares of company stock valued at $279,232 over the last 90 days. Insiders own 0.28% of the company’s stock.

Institutional Trading of NetApp

Institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC grew its holdings in NetApp by 38.4% during the 4th quarter. Kestra Advisory Services LLC now owns 14,947 shares of the data storage provider’s stock worth $1,601,000 after acquiring an additional 4,145 shares in the last quarter. Transamerica Financial Advisors LLC lifted its position in shares of NetApp by 16.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock worth $89,000 after purchasing an additional 120 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in NetApp by 1.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 169,351 shares of the data storage provider’s stock worth $18,136,000 after purchasing an additional 2,710 shares in the last quarter. Advisory Research Inc. grew its stake in NetApp by 2.2% in the fourth quarter. Advisory Research Inc. now owns 22,417 shares of the data storage provider’s stock worth $2,401,000 after purchasing an additional 491 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in NetApp by 34.6% in the fourth quarter. Neuberger Berman Group LLC now owns 57,486 shares of the data storage provider’s stock valued at $6,156,000 after buying an additional 14,764 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Performance

NetApp stock opened at $102.42 on Monday. The stock has a fifty day moving average price of $105.94 and a 200 day moving average price of $111.48. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. NetApp has a 52 week low of $71.84 and a 52 week high of $127.78. The firm has a market capitalization of $20.29 billion, a P/E ratio of 17.81, a PEG ratio of 2.15 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. During the same quarter in the prior year, the company posted $1.87 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, January 2nd. NetApp’s dividend payout ratio is presently 36.17%.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.