NetApp, Inc. (NASDAQ:NTAP) Receives Consensus Rating of “Hold” from Analysts

Shares of NetApp, Inc. (NASDAQ:NTAP) have earned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $122.6364.

NTAP has been the subject of a number of research reports. Citigroup lowered shares of NetApp from a “neutral” rating to a “mixed” rating in a research report on Thursday, May 14th. Wall Street Zen lowered shares of NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. lowered shares of NetApp from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of NetApp in a research report on Wednesday, February 25th.

NetApp Price Performance

Shares of NASDAQ:NTAP opened at $120.59 on Wednesday. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The firm has a market capitalization of $23.80 billion, a PE ratio of 20.17, a P/E/G ratio of 3.42 and a beta of 1.28. NetApp has a twelve month low of $93.69 and a twelve month high of $126.66. The company has a 50-day moving average price of $105.97 and a two-hundred day moving average price of $106.50.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the business earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Equities analysts forecast that NetApp will post 6.48 EPS for the current year.

NetApp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is 34.78%.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the transaction, the executive vice president directly owned 18,382 shares in the company, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 3,000 shares of company stock valued at $314,650 in the last three months. 0.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NetApp

A number of large investors have recently modified their holdings of NTAP. Abich Financial Wealth Management LLC bought a new position in shares of NetApp in the third quarter valued at approximately $27,000. Rossby Financial LCC raised its stake in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 115 shares in the last quarter. Park Square Financial Group LLC raised its stake in 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. Gen Wealth Partners Inc purchased a new stake in NetApp in the fourth quarter valued at approximately $30,000. Finally, DV Equities LLC purchased a new stake in NetApp in the fourth quarter valued at approximately $30,000. 92.17% of the stock is currently owned by institutional investors.

NetApp Company Profile

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.