NetApp (NASDAQ:NTAP) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of NetApp (NASDAQ:NTAP) in a report issued on Tuesday, MarketBeat Ratings reports. The firm issued a buy rating and a $128.00 price target on the data storage provider’s stock.

A number of other research firms also recently commented on NTAP. Barclays lifted their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. UBS Group upped their price objective on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Northland Capmk upgraded shares of NetApp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 26th. Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target on shares of NetApp in a report on Friday, October 10th. Finally, Northland Securities set a $137.00 price target on NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.33.

NetApp Stock Up 0.1%

NASDAQ NTAP traded up $0.11 on Tuesday, reaching $107.39. 470,331 shares of the stock traded hands, compared to its average volume of 1,969,375. NetApp has a 12 month low of $71.84 and a 12 month high of $127.78. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The company has a fifty day moving average price of $110.66 and a 200-day moving average price of $112.44. The company has a market cap of $21.27 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.36 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 earnings per share. 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 fiscal year.

NetApp Dividend Announcement

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

Insider Buying and Selling at NetApp

In related news, CAO Lorenzo Daniel De sold 327 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NetApp

Several hedge funds and other institutional investors have recently modified their holdings of the business. 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 boosted its stake in NetApp by 16.8% during the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after buying an additional 1,024,626 shares during the period. Wellington Management Group LLP increased its position in shares of NetApp by 17.1% during the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after acquiring an additional 718,409 shares during the last quarter. Boston Partners raised its stake in shares of NetApp by 12.6% in the 3rd quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock valued at $393,027,000 after acquiring an additional 370,405 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of NetApp by 1.0% in the 3rd quarter. Northern Trust Corp now owns 2,903,077 shares of the data storage provider’s stock worth $343,899,000 after acquiring an additional 29,871 shares during the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

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.