The Goldman Sachs Group Initiates Coverage on NetApp (NASDAQ:NTAP)

Investment analysts at The Goldman Sachs Group assumed coverage on shares of NetApp (NASDAQ:NTAP) in a research note issued on Tuesday, MarketBeat.com reports. The firm set a “buy” rating and a $128.00 price target on the data storage provider’s stock. The Goldman Sachs Group’s price objective suggests a potential upside of 18.88% from the company’s current price.

Other analysts have also recently issued reports about the company. Wells Fargo & Company upped their target price on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. Northland Securities set a $137.00 price target on shares of NetApp and gave the company an “outperform” 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. UBS Group lifted their target price on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $124.33.

NetApp Stock Performance

NTAP opened at $107.67 on Tuesday. NetApp has a twelve month low of $71.84 and a twelve month high of $127.78. The firm has a market capitalization of $21.33 billion, a PE ratio of 18.73, a PEG ratio of 2.37 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. The firm’s 50-day moving average price is $110.50 and its 200 day moving average price is $112.40.

NetApp (NASDAQ:NTAP) last released its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 was up 2.8% on a year-over-year basis. During the same period last year, the company posted $1.87 EPS. 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, sell-side analysts expect that NetApp will post 5.89 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, January 12th. The stock was sold at an average price of $105.49, for a total value of $105,490.00. Following the sale, the executive vice president directly owned 21,075 shares in the company, valued at approximately $2,223,201.75. This trade represents a 4.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $107.48, for a total value of $35,145.96. The SEC filing for this sale provides additional information. Insiders have sold 1,654 shares of company stock worth $175,782 in the last ninety days. Corporate insiders own 0.28% of the company’s stock.

Institutional Trading of NetApp

Large investors have recently made changes to their positions in the company. Rossby Financial LCC raised its stake in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after buying an additional 115 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of NetApp in the 3rd quarter valued at about $27,000. Harbour Investments Inc. raised its position in shares of NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in NetApp during the second quarter worth approximately $28,000. Finally, CVA Family Office LLC lifted its stake in NetApp by 300.0% during the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 219 shares during the last quarter. 92.17% of the stock is currently 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.