Brokerages Set NetApp, Inc. (NASDAQ:NTAP) PT at $120.75

Shares of NetApp, Inc. (NASDAQ:NTAP) have been given a consensus rating of “Hold” by the fourteen ratings firms that are currently covering the firm, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $122.6364.

NTAP has been the topic of several analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. JPMorgan Chase & Co. downgraded shares of NetApp from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a research note on Sunday, April 19th. Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Finally, The Goldman Sachs Group started coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price objective for the company.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Friday, April 10th. The shares were sold at an average price of $96.25, for a total transaction of $96,250.00. Following the completion of the sale, the executive vice president directly owned 19,382 shares in the company, valued at approximately $1,865,517.50. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 3,000 shares of company stock worth $300,370 in the last three months. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On NetApp

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Rossby Financial LCC raised its holdings in shares of NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new position in shares of NetApp during the third quarter worth $27,000. Park Square Financial Group LLC raised its holdings in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new position in shares of NetApp during the fourth quarter worth $30,000. Finally, DV Equities LLC purchased a new position in shares of NetApp during the fourth quarter worth $30,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

NetApp Price Performance

NASDAQ NTAP opened at $108.44 on Friday. The firm’s fifty day simple moving average is $101.78 and its two-hundred day simple moving average is $106.71. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp has a 12-month low of $86.70 and a 12-month high of $126.66. The firm has a market capitalization of $21.40 billion, a P/E ratio of 18.13, a P/E/G ratio of 3.37 and a beta of 1.30.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period in the previous year, the company earned $1.91 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Analysts forecast that NetApp will post 6.48 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, April 2nd. NetApp’s payout ratio is presently 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.