NetApp, Inc. (NASDAQ:NTAP) Receives $122.42 Average Price Target from Analysts

NetApp, Inc. (NASDAQ:NTAP) has earned an average rating of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat.com reports. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $122.4167.

NTAP has been the topic of a number of analyst reports. The Goldman Sachs Group began coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price objective on the stock. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Finally, Citigroup lifted their price objective on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, March 2nd.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $100.67, for a total value of $100,670.00. Following the completion of the transaction, the executive vice president owned 20,382 shares of the company’s stock, valued at approximately $2,051,855.94. This represents a 4.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 3,000 shares of company stock valued at $309,610. 0.28% of the stock is owned by insiders.

Institutional Trading of NetApp

Several institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its position in shares of NetApp by 38.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in NetApp in the 2nd quarter worth $315,000. CreativeOne Wealth LLC purchased a new stake in NetApp in the 2nd quarter worth $220,000. Choreo LLC raised its position in NetApp by 36.4% during the second quarter. Choreo LLC now owns 3,514 shares of the data storage provider’s stock worth $374,000 after acquiring an additional 938 shares during the period. Finally, Quadrant Capital Group LLC raised its position in NetApp by 92.2% during the second quarter. Quadrant Capital Group LLC now owns 7,802 shares of the data storage provider’s stock worth $831,000 after acquiring an additional 3,742 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

NetApp Stock Performance

Shares of NTAP stock opened at $103.35 on Tuesday. NetApp has a 52-week low of $71.84 and a 52-week high of $126.66. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The stock has a market cap of $20.39 billion, a PE ratio of 17.28, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The business has a 50-day simple moving average of $100.92 and a 200-day simple moving average of $108.84.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.NetApp’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the company earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, equities analysts expect that NetApp will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be given a dividend of $0.52 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.0%. NetApp’s dividend payout ratio (DPR) is 34.78%.

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.