NetApp, Inc. (NASDAQ:NTAP) Given Consensus Rating of “Moderate Buy” by Brokerages

NetApp, Inc. (NASDAQ:NTAP) has been given an average recommendation of “Moderate Buy” by the twenty research firms that are covering the stock, MarketBeat reports. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $124.3333.

Several research analysts have commented on the stock. Bank of America upped their target price on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Wedbush reissued a “neutral” rating and issued a $110.00 price objective on shares of NetApp in a report on Friday, October 10th. William Blair restated a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Northland Securities set a $137.00 target price on NetApp and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Finally, Wells Fargo & Company boosted their price target on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $105.49, for a total value of $105,490.00. Following the completion of the transaction, the executive vice president directly owned 21,075 shares in the company, valued at $2,223,201.75. This trade represents a 4.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 327 shares of the firm’s 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. In the last three months, insiders have sold 1,654 shares of company stock worth $175,782. 0.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NetApp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Spire Wealth Management lifted its holdings in shares of NetApp by 68.9% in the fourth quarter. Spire Wealth Management now owns 1,473 shares of the data storage provider’s stock valued at $158,000 after buying an additional 601 shares during the period. Exchange Traded Concepts LLC raised its position in NetApp by 9.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 11,396 shares of the data storage provider’s stock worth $1,220,000 after acquiring an additional 942 shares in the last quarter. Pallas Capital Advisors LLC lifted its holdings in NetApp by 8.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 6,290 shares of the data storage provider’s stock valued at $674,000 after acquiring an additional 510 shares during the last quarter. KMG Fiduciary Partners LLC boosted its position in shares of NetApp by 3.4% during the 4th quarter. KMG Fiduciary Partners LLC now owns 24,005 shares of the data storage provider’s stock valued at $2,571,000 after purchasing an additional 781 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its position in shares of NetApp by 176.3% during the 4th quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares in the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Price Performance

Shares of NTAP opened at $107.67 on Thursday. 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 current ratio of 1.34 and a quick ratio of 1.30. The stock has a fifty day moving average price of $110.50 and a 200 day moving average price of $112.40. The company has a market cap of $21.33 billion, a P/E ratio of 18.73, a PEG ratio of 2.37 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.17. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $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. On average, research analysts forecast that NetApp will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 2nd. This represents a $2.08 annualized dividend and a yield of 1.9%. NetApp’s dividend payout ratio is presently 36.17%.

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.