NetApp (NASDAQ:NTAP) Price Target Raised to $171.00 at Northland Securities

NetApp (NASDAQ:NTAP) had its price target boosted by equities research analysts at Northland Securities from $137.00 to $171.00 in a report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the data storage provider’s stock. Northland Securities’ price target indicates a potential downside of 6.67% from the company’s current price.

A number of other brokerages have also recently commented on NTAP. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Barclays restated an “overweight” rating on shares of NetApp in a report on Friday. Citigroup cut NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday, May 14th. Morgan Stanley boosted their price objective on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research note on Friday. Finally, Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $127.18.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $183.22 on Friday. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp has a 1 year low of $93.69 and a 1 year high of $170.97. The firm has a market capitalization of $36.15 billion, a PE ratio of 30.71, a P/E/G ratio of 2.60 and a beta of 1.28. The business’s 50 day moving average price is $110.99 and its 200-day moving average price is $107.48.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. As a group, equities research analysts expect that NetApp will post 6.48 earnings per share for the current fiscal year.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the sale, the executive vice president owned 18,382 shares of the company’s stock, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at $130,800. This represents a 20.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,275 shares of company stock worth $347,650 over the last three months. 0.28% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NetApp

Several hedge funds have recently bought and sold shares of NTAP. State Street Corp grew its position in shares of NetApp by 1.1% in the fourth quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock valued at $1,091,499,000 after purchasing an additional 115,451 shares during the last quarter. Wellington Management Group LLP grew its holdings in NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after buying an additional 718,409 shares during the last quarter. Norges Bank purchased a new position in NetApp during the fourth quarter worth $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NetApp by 17.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock worth $442,018,000 after acquiring an additional 611,003 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of NetApp by 127.0% in the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock valued at $374,549,000 after acquiring an additional 2,046,912 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, up 12.5% year over year and above Wall Street estimates, showing continued demand for its data storage products. NetApp (NTAP) Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management raised first-quarter and full-year FY 2027 guidance above consensus, signaling confidence in growth and execution going forward. Wamsi Mohan Reiterates Hold on NetApp, Lifts Price Target to $150 Amid Strong Execution but Valuation and Margin Headwinds
• Positive Sentiment: NetApp announced a new $1 billion share repurchase program and a quarterly dividend, both of which can support shareholder returns. NetApp Announces New $1 Billion Share Repurchase Program
• Neutral Sentiment: Analysts remain split: Bank of America raised its target to $150 but kept a Hold rating, while Morgan Stanley lifted its target to $137 but maintained an Underweight view, suggesting valuation concerns remain. Benzinga analyst update on NetApp price target
• Negative Sentiment: NetApp’s Q4 EPS of $2.03 missed expectations, and some coverage notes margin and valuation headwinds, which may limit upside if investors focus on profitability rather than sales growth. NetApp (NTAP) Stock Falls on Q4 2026 Earnings

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.