Analysts Set NetApp, Inc. (NASDAQ:NTAP) PT at $124.33

NetApp, Inc. (NASDAQ:NTAP) has received a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $123.9286.

A number of brokerages have issued reports on NTAP. Wells Fargo & Company boosted their price target on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. UBS Group raised their price objective on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a report on Thursday, January 22nd. Finally, Bank of America increased their target price on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th.

NetApp Trading Up 0.2%

NTAP opened at $105.90 on Monday. The stock has a 50-day moving average of $106.60 and a 200 day moving average of $111.61. NetApp has a 12 month low of $71.84 and a 12 month high of $127.78. The firm has a market cap of $20.97 billion, a P/E ratio of 18.42, a P/E/G ratio of 2.32 and a beta of 1.38. 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 (NASDAQ:NTAP) last issued its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (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 firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period in the previous year, the firm earned $1.87 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, research analysts forecast that NetApp will post 5.89 EPS for the current year.

NetApp Dividend Announcement

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

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s 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 transaction, the executive vice president directly owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. The trade was a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of NetApp stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,654 shares of company stock worth $279,232 over the last three months. Corporate insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Harbour Investments Inc. grew its stake in NetApp by 287.9% in the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in NetApp during the 3rd quarter worth approximately $27,000. Rossby Financial LCC grew its position in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of NetApp in the 2nd quarter valued at approximately $28,000. Finally, Park Square Financial Group LLC raised its position in shares of NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after acquiring an additional 103 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

About NetApp

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.