Wedbush Reiterates “Neutral” Rating for NetApp (NASDAQ:NTAP)

NetApp (NASDAQ:NTAP)‘s stock had its “neutral” rating reissued by stock analysts at Wedbush in a report released on Wednesday,Benzinga reports. They currently have a $115.00 price target on the data storage provider’s stock. Wedbush’s price target would suggest a potential upside of 16.00% from the company’s previous close.

NTAP has been the topic of a number of other research reports. Wells Fargo & Company lifted their price target on shares of NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a research note on Wednesday, November 26th. Bank of America boosted their price objective on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Northland Securities set a $137.00 price target on NetApp and gave the company an “outperform” rating in a research note on Wednesday, November 26th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.21.

NetApp Stock Performance

NTAP stock opened at $99.14 on Wednesday. NetApp has a 1-year low of $71.84 and a 1-year high of $126.66. 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 has a market cap of $19.64 billion, a PE ratio of 17.24, a P/E/G ratio of 3.53 and a beta of 1.38. The business’s 50-day moving average price is $103.40 and its two-hundred day moving average price is $111.32.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the firm posted $1.91 earnings per share. NetApp’s revenue was up 4.4% compared to the same quarter last year. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, research analysts forecast that NetApp will post 5.89 earnings per share for the current year.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total value of $103,450.00. Following the completion of the sale, the executive vice president owned 20,075 shares in the company, valued at $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On NetApp

Several hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake in NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of NetApp during the 2nd quarter worth approximately $315,000. AlphaQuest LLC raised its stake in NetApp by 34,654.5% in the 2nd quarter. AlphaQuest LLC now owns 3,823 shares of the data storage provider’s stock valued at $407,000 after acquiring an additional 3,812 shares during the period. Focus Partners Advisor Solutions LLC lifted its holdings in NetApp by 83.6% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 5,077 shares of the data storage provider’s stock valued at $541,000 after purchasing an additional 2,311 shares during the last quarter. Finally, Brighton Jones LLC bought a new position in NetApp during the second quarter worth $293,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Q3 beat and official materials: NetApp posted EPS of $2.12 vs. the consensus ~$2.07 and revenue ~$1.71B, narrowly ahead of estimates; the company filed the press release and slide deck with details. This is the immediate fundamental driver behind upside in expectations. View Press Release
• Positive Sentiment: Raised FY‑2026 and Q4 guidance: NetApp lifted FY EPS to $7.920–8.020 (consensus ~7.29) and issued Q4 EPS $2.21–2.31 (vs. ~2.08 est), with revenue bands modestly above/inline — a clear beat-and-raise signal for the year. View Slide Deck
• Neutral Sentiment: Contextual metrics and analyst notes: Zacks and other coverage break down key Q3 metrics vs. estimates and year-ago figures — useful for modeling but not market-moving by itself. Compared to Estimates, NetApp (NTAP) Q3 Earnings
• Neutral Sentiment: Strategic angle — AI-focused cloud subscriptions: Coverage is questioning whether NetApp’s pivot toward AI-focused cloud/subscriptions changes the investment case; this is strategic upside but with timing and margin conversion uncertainty. Is NetApp’s Shift Toward AI-Focused Cloud Subscriptions Altering The Investment Case For NetApp (NTAP)?
• Neutral Sentiment: Analyst tone mixed but not bearish: Wedbush reaffirmed a neutral rating with a $115 target (implies upside from current levels) and argued some pre-earnings pessimism was overdone — supports buy-side patience but not a strong catalyst. Wedbush neutral rating / commentary
• Negative Sentiment: Competitive/sector pressure: Comparative pieces highlight Seagate (STX) as capturing stronger AI-driven demand and momentum — an investor concern that NetApp may face tougher competitive and growth comparisons in storage/AI hardware spending cycles. Seagate vs. NetApp

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.