Brokerages Set NetApp, Inc. (NASDAQ:NTAP) Price Target at $124.33

NetApp, Inc. (NASDAQ:NTAP) has earned an average rating of “Moderate Buy” from the twenty research firms that are currently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $124.3333.

NTAP has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Wells Fargo & Company upped their price objective on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Barclays raised their target price on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on shares of NetApp in a research note on Tuesday. They issued a “buy” rating and a $128.00 price target for the company. Finally, Bank of America increased their price target on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th.

NetApp Stock Performance

NetApp stock opened at $103.84 on Thursday. NetApp has a 1-year low of $71.84 and a 1-year high of $127.78. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $20.57 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 2.29 and a beta of 1.38. The firm’s 50 day simple moving average is $110.21 and its 200 day simple moving average is $112.40.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.17. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.87 earnings per share. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. As a group, analysts expect that NetApp will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Friday, January 2nd. NetApp’s dividend payout ratio is currently 36.17%.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, January 12th. The stock was sold at an average price of $105.49, for a total transaction of $105,490.00. Following the completion of the sale, the executive vice president owned 21,075 shares of the company’s stock, valued at $2,223,201.75. The trade was a 4.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The SEC filing for this sale provides additional information. Insiders have sold 1,654 shares of company stock worth $175,782 in the last 90 days. Company insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On NetApp

Institutional investors have recently made changes to their positions in the business. Rossby Financial LCC raised its position in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in NetApp during the third quarter valued at about $27,000. Harbour Investments Inc. grew its stake in shares of NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after buying an additional 190 shares during the last quarter. Harbor Asset Planning Inc. purchased a new position in shares of NetApp in the second quarter worth about $28,000. Finally, CVA Family Office LLC increased its holdings in shares of NetApp by 300.0% in the second quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after buying an additional 219 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

About NetApp

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.