NetApp, Inc. (NASDAQ:NTAP – Get Free Report)’s stock price rose 6% during mid-day trading on Friday . The company traded as high as $192.94 and last traded at $194.6310. Approximately 105,572 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 2,690,068 shares. The stock had previously closed at $183.60.
NetApp News Summary
Here are the key news stories impacting NetApp this week:
- Positive Sentiment: Zacks upgraded NetApp from “Hold” to “Strong Buy,” adding to the bullish momentum around the data-storage company. NTAP was also included in Zacks’ September 10 list of Rank #1 momentum stocks. Zacks Best Momentum Stock to Buy for September 10
- Positive Sentiment: Recent earnings significantly exceeded expectations: NetApp reported quarterly EPS of $2.58 versus the $2.12 consensus estimate and revenue of $2.03 billion versus expectations of $1.84 billion. Revenue increased 29.9% year over year, supporting investor optimism about its enhanced product strategy and growth outlook. What Comes Next for NetApp After Enhanced Product Strategy and Record Earnings
- Positive Sentiment: Northland Securities raised multiple earnings forecasts, including FY2027 EPS to $8.14 from $7.11 and FY2028 EPS to $9.15 from $7.85. It also increased estimates for Q2 2027, Q3 2027, and Q4 2027, while maintaining an “Outperform” rating and a $187 price target. These revisions suggest stronger anticipated profitability, although the target offers limited upside from the reported trading level.
- Neutral Sentiment: Short-interest data showed zero reported shares short as of September 10, unchanged from the prior reported period. Because the figures appear incomplete or invalid, they provide no meaningful signal about potential short-covering demand or bearish positioning.
- Neutral Sentiment: NetApp is currently a heavily watched stock on Zacks, which may increase near-term trading activity but does not by itself indicate a change in the company’s fundamentals. NetApp Is a Trending Stock
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of NetApp in a research note on Friday, September 4th. Barclays lifted their price objective on NetApp from $199.00 to $219.00 and gave the company an “overweight” rating in a report on Thursday, September 3rd. Susquehanna increased their target price on NetApp from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Wedbush upped their price target on shares of NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Finally, Citigroup decreased their price objective on shares of NetApp from $209.00 to $190.00 and set a “neutral” rating on the stock in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $192.07.
NetApp Trading Up 6.5%
The company has a market cap of $38.42 billion, a price-to-earnings ratio of 27.59, a PEG ratio of 1.99 and a beta of 1.44. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The business’s 50-day simple moving average is $181.19 and its 200-day simple moving average is $143.50.
NetApp (NASDAQ:NTAP – Get Free Report) last posted its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.46. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%.NetApp’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Research analysts predict that NetApp, Inc. will post 8.32 earnings per share for the current fiscal year.
NetApp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 annualized dividend and a yield of 1.1%. NetApp’s payout ratio is presently 29.34%.
Insider Activity
In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.82, for a total transaction of $193,820.00. Following the sale, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. This trade represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Cesar Cernuda sold 2,608 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $204.48, for a total value of $533,283.84. Following the completion of the transaction, the president owned 46,530 shares of the company’s stock, valued at $9,514,454.40. The trade was a 5.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 54,072 shares of company stock worth $8,556,040 over the last ninety days. 0.36% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On NetApp
Hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock worth $536,000 after acquiring an additional 101 shares during the last quarter. Park Square Financial Group LLC grew its holdings in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares in the last quarter. Assetmark Inc. increased its position in NetApp by 3.0% in the first quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock worth $362,000 after purchasing an additional 104 shares during the last quarter. Transamerica Financial Advisors LLC raised its stake in NetApp by 16.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock valued at $89,000 after purchasing an additional 120 shares in the last quarter. Finally, MRWM Advisors LLC lifted its position in NetApp by 1.8% during the first quarter. MRWM Advisors LLC now owns 6,794 shares of the data storage provider’s stock valued at $696,000 after purchasing an additional 122 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.
About NetApp
NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.
The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.
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