NetApp (NASDAQ:NTAP) Upgraded at Wall Street Zen

NetApp (NASDAQ:NTAP) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

NTAP has been the subject of several other research reports. Citigroup increased their price target on NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Bank of America lifted their price objective on NetApp from $125.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Susquehanna increased their target price on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Wells Fargo & Company raised their price target on shares of NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, Barclays boosted their price target on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $169.33.

NetApp Trading Down 1.7%

NTAP opened at $161.16 on Tuesday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. NetApp has a fifty-two week low of $93.69 and a fifty-two week high of $192.83. The company’s 50 day moving average price is $154.15 and its two-hundred day moving average price is $120.98. The firm has a market capitalization of $31.62 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 2.99 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.NetApp’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. 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, research analysts predict that NetApp will post 7.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares in the company, valued at $7,246,504.92. The trade was a 51.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 52,964 shares of company stock worth $8,181,642. 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. West Financial Advisors LLC acquired a new stake in NetApp in the second quarter valued at approximately $37,000. Park Square Financial Group LLC lifted its holdings in shares of NetApp by 68.7% in the 4th 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 in the last quarter. Gen Wealth Partners Inc acquired a new stake in NetApp in the 4th quarter valued at $30,000. DV Equities LLC bought a new stake in NetApp during the 4th quarter valued at $30,000. Finally, Measured Wealth Private Client Group LLC acquired a new position in NetApp during the third quarter worth $35,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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.