Brokerages Set NetApp, Inc. (NASDAQ:NTAP) Price Target at $122.42

NetApp, Inc. (NASDAQ:NTAP) has earned a consensus rating of “Moderate Buy” from the fifteen research firms that are currently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $122.4167.

Several brokerages recently issued reports on NTAP. Barclays lifted their price target on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Northland Securities set a $137.00 price target on shares of NetApp and gave the stock an “outperform” rating in a report on Wednesday, November 26th. Citigroup increased their price target on NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Bank of America raised their price objective on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Finally, Wells Fargo & Company boosted their price objective on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th.

NetApp Stock Performance

NASDAQ:NTAP opened at $101.06 on Friday. NetApp has a twelve month low of $71.84 and a twelve month high of $126.66. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The stock’s 50-day simple moving average is $102.15 and its 200 day simple moving average is $111.00. The firm has a market capitalization of $19.94 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 3.13 and a beta of 1.39.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, analysts anticipate that NetApp will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

Insider Buying and Selling at NetApp

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

Institutional Investors Weigh In On NetApp

Several hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its holdings in NetApp by 30.6% during the 4th quarter. Hsbc Holdings PLC now owns 845,036 shares of the data storage provider’s stock worth $90,556,000 after acquiring an additional 197,922 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its position in NetApp by 1,371.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,692 shares of the data storage provider’s stock valued at $288,000 after acquiring an additional 2,509 shares during the period. Tobam raised its stake in shares of NetApp by 854.7% during the fourth quarter. Tobam now owns 8,926 shares of the data storage provider’s stock valued at $956,000 after acquiring an additional 7,991 shares during the last quarter. Kera Capital Partners Inc. lifted its holdings in shares of NetApp by 10.0% during the fourth quarter. Kera Capital Partners Inc. now owns 2,813 shares of the data storage provider’s stock worth $301,000 after purchasing an additional 255 shares during the period. Finally, MV Capital Management Inc. bought a new stake in shares of NetApp in the fourth quarter worth $128,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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.