NetApp, Inc. (NASDAQ:NTAP) Receives $124.07 Consensus Target Price from Brokerages

Shares of NetApp, Inc. (NASDAQ:NTAP) have received a consensus recommendation of “Hold” from the eighteen ratings firms that are covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $121.40.

Several research firms have issued reports on NTAP. Wedbush reiterated a “neutral” rating and issued a $110.00 target price on shares of NetApp in a research note on Friday. Bank of America increased their target price on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. UBS Group increased their price target on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Argus reissued a “buy” rating and issued a $130.00 price target on shares of NetApp in a report on Friday, August 29th. Finally, Citigroup increased their price target on shares of NetApp from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Monday, August 11th.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,750 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This represents a 3.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lorenzo Daniel De sold 779 shares of the 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 disclosure for this sale can be found here. Insiders have sold 28,529 shares of company stock valued at $3,243,874 in the last quarter. Insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On NetApp

Institutional investors and hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its holdings in shares of NetApp by 39.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider’s stock valued at $3,250,000 after purchasing an additional 10,494 shares during the last quarter. Achmea Investment Management B.V. grew its holdings in shares of NetApp by 55.8% during the 1st quarter. Achmea Investment Management B.V. now owns 221,907 shares of the data storage provider’s stock valued at $19,492,000 after purchasing an additional 79,457 shares during the last quarter. Burns Matteson Capital Management LLC bought a new position in shares of NetApp during the 1st quarter valued at $321,000. UNICOM Systems Inc. bought a new position in shares of NetApp during the 1st quarter valued at $13,483,000. Finally, Hennessy Advisors Inc. bought a new position in shares of NetApp during the 1st quarter valued at $2,050,000. Institutional investors own 92.17% of the company’s stock.

NetApp Stock Performance

NASDAQ NTAP opened at $113.94 on Tuesday. NetApp has a 1 year low of $71.84 and a 1 year high of $135.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. The stock has a market capitalization of $22.74 billion, a PE ratio of 20.13, a P/E/G ratio of 2.48 and a beta of 1.45. The company’s 50 day simple moving average is $115.80 and its two-hundred day simple moving average is $103.63.

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

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. NetApp’s dividend payout ratio is presently 36.75%.

NetApp Company Profile

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.