Analysts Set NetApp, Inc. (NASDAQ:NTAP) Target Price at $122.40

Shares of NetApp, Inc. (NASDAQ:NTAP) have earned an average rating of “Hold” from the nineteen brokerages that are presently covering the stock, MarketBeat.com reports. Twelve analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $122.40.

NTAP has been the topic of several analyst reports. Bank of America increased their price target 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 target price on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research report on Friday, October 10th. Morgan Stanley set a $117.00 price objective on NetApp in a report on Thursday, August 28th. Finally, Barclays boosted their target price on NetApp from $117.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, August 28th.

Insider Activity at NetApp

In related news, CEO George Kurian sold 8,750 shares of NetApp 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 in the company, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 779 shares of the business’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 SEC filing for this sale provides additional information. In the last three months, insiders have sold 21,029 shares of company stock worth $2,444,194. 0.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of NetApp in the second quarter valued at approximately $281,093,000. Boston Partners raised its stake in NetApp by 108.9% during the 2nd quarter. Boston Partners now owns 2,947,200 shares of the data storage provider’s stock valued at $313,997,000 after purchasing an additional 1,536,339 shares during the last quarter. Pacer Advisors Inc. raised its stake in NetApp by 4,687.6% during the 1st quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider’s stock valued at $93,874,000 after purchasing an additional 1,046,372 shares during the last quarter. Geode Capital Management LLC boosted its holdings in NetApp by 16.8% in the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock valued at $756,665,000 after purchasing an additional 1,024,626 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its position in NetApp by 1,230.3% in the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider’s stock worth $107,359,000 after purchasing an additional 931,850 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

NetApp Stock Performance

Shares of NASDAQ NTAP opened at $112.97 on Friday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. NetApp has a one year low of $71.84 and a one year high of $135.45. The business’s 50-day moving average price is $119.26 and its two-hundred day moving average price is $108.32. The company has a market capitalization of $22.55 billion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last announced its quarterly 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 net margin of 17.77% and a return on equity of 123.24%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The firm’s quarterly revenue 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 anticipate that NetApp will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio is currently 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.