NetApp (NASDAQ:NTAP) Stock Rating Upgraded by Zacks Research

NetApp (NASDAQ:NTAP) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

NTAP has been the subject of several other research reports. UBS Group upped their price target on shares of NetApp from $160.00 to $171.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. TD Cowen restated a “buy” rating and set a $200.00 price objective on shares of NetApp in a report on Thursday, September 3rd. Morgan Stanley increased their target price on NetApp from $173.00 to $191.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 3rd. Evercore set a $210.00 target price on NetApp in a report on Monday, August 24th. Finally, Susquehanna boosted their price target on NetApp from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $192.07.

NetApp Stock Down 0.6%

NTAP opened at $183.60 on Wednesday. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The stock has a market capitalization of $36.06 billion, a price-to-earnings ratio of 25.90, a price-to-earnings-growth ratio of 1.99 and a beta of 1.44. The business has a 50-day moving average of $181.19 and a two-hundred day moving average of $143.50. NetApp has a 12 month low of $93.69 and a 12 month high of $209.06.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. The company had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, research analysts expect that NetApp will post 8.32 earnings per share for the current year.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the transaction, the executive vice president owned 30,297 shares in the company, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Cesar Cernuda sold 2,608 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the sale, the president directly owned 46,530 shares of the company’s stock, valued at approximately $9,514,454.40. This trade represents a 5.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 54,072 shares of company stock valued at $8,556,040 in the last three months. Company insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NTAP. Parallel Advisors LLC grew its position in NetApp by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after buying an additional 101 shares in the last quarter. Park Square Financial Group LLC increased its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 103 shares during the period. Assetmark Inc. raised its holdings in NetApp by 3.0% in the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock valued at $362,000 after acquiring an additional 104 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in NetApp by 16.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock valued at $89,000 after acquiring an additional 120 shares in the last quarter. Finally, MRWM Advisors LLC lifted its position in shares of NetApp by 1.8% during the 1st quarter. MRWM Advisors LLC now owns 6,794 shares of the data storage provider’s stock valued at $696,000 after acquiring an additional 122 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp News Summary

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Improved earnings outlook: Northland Securities retained an “Outperform” rating and raised its FY2027 EPS estimate to $8.14 from $7.11 and its FY2028 estimate to $9.15 from $7.85. It also increased estimates for several upcoming quarters, including Q2 2027 and Q3 2027. The firm’s price target is $187. Northland Securities estimates
• Positive Sentiment: Positive momentum and investor attention: Zacks added NTAP to its Rank #1 “Strong Buy” momentum list, while a separate Zacks report identified NetApp as a heavily watched stock. These designations may support near-term buying interest. Zacks momentum stocks
• Positive Sentiment: Strong operating performance: NetApp’s latest quarterly results exceeded expectations, with EPS of $2.58 versus the $2.12 consensus and revenue of $2.03 billion versus $1.84 billion expected. Revenue increased 29.9% year over year, and management provided FY2027 EPS guidance of $9.73–$10.03.
• Neutral Sentiment: Valuation remains a consideration: Citi reiterated a Hold rating while maintaining a $190 target, acknowledging an attractive AI-driven growth outlook but viewing the shares as fairly valued. Citi NetApp rating
• Neutral Sentiment: Short-interest data is unreliable: The report lists September short interest at zero shares and describes the change as “NaN,” making it unusable as a meaningful signal about short covering or bearish positioning.

About NetApp

NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.