NetApp (NASDAQ:NTAP) Price Target Cut to $125.00 by Analysts at Citigroup

NetApp (NASDAQ:NTAP) had its price target reduced by equities research analysts at Citigroup from $130.00 to $125.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the data storage provider’s stock. Citigroup’s price target would suggest a potential upside of 12.04% from the stock’s previous close.

NTAP has been the subject of several other research reports. Bank of America raised their price target on NetApp from $121.00 to $125.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Barclays increased their price target on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, August 28th. Wedbush restated a “neutral” rating and set a $110.00 price objective on shares of NetApp in a report on Friday, October 10th. Finally, Northland Securities upped their target price on NetApp from $119.00 to $120.00 and gave the company a “market perform” rating in a research report on Thursday, August 28th. Seven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $122.07.

NetApp Stock Performance

NetApp stock traded up $1.15 during midday trading on Wednesday, reaching $111.57. 2,254,807 shares of the company’s stock were exchanged, compared to its average volume of 2,032,513. The stock’s 50-day simple moving average is $119.15 and its 200 day simple moving average is $108.99. The firm has a market cap of $22.27 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.48 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp has a 52 week low of $71.84 and a 52 week high of $135.45.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The business’s quarterly revenue was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. On average, analysts expect that NetApp will post 5.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $119.00, for a total value of $119,000.00. Following the sale, the executive vice president directly owned 22,628 shares in the company, valued at approximately $2,692,732. This trade represents a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,029 shares of company stock valued at $2,338,294 over the last 90 days. 0.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NetApp

Several institutional investors and hedge funds have recently bought and sold shares of the company. Ascent Group LLC lifted its stake in shares of NetApp by 1.5% in the 3rd quarter. Ascent Group LLC now owns 6,084 shares of the data storage provider’s stock valued at $721,000 after acquiring an additional 90 shares during the last quarter. Caliber Wealth Management LLC KS increased its holdings in NetApp by 5.0% in the 3rd quarter. Caliber Wealth Management LLC KS now owns 2,100 shares of the data storage provider’s stock worth $249,000 after purchasing an additional 100 shares in the last quarter. Parkside Financial Bank & Trust raised its position in NetApp by 19.2% in the second quarter. Parkside Financial Bank & Trust now owns 647 shares of the data storage provider’s stock valued at $69,000 after purchasing an additional 104 shares during the last quarter. Frank Rimerman Advisors LLC raised its position in NetApp by 2.0% in the third quarter. Frank Rimerman Advisors LLC now owns 5,526 shares of the data storage provider’s stock valued at $655,000 after purchasing an additional 106 shares during the last quarter. Finally, Horizon Investments LLC boosted its stake in shares of NetApp by 3.8% during the first quarter. Horizon Investments LLC now owns 2,919 shares of the data storage provider’s stock valued at $255,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

About NetApp

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.