NetApp, Inc. (NASDAQ:NTAP) Receives Average Rating of “Moderate Buy” from Analysts

NetApp, Inc. (NASDAQ:NTAP) has earned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $122.4167.

A number of research analysts have recently commented on NTAP shares. Barclays increased their price target on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 27th. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Finally, The Goldman Sachs Group initiated coverage on shares of NetApp in a research report on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total value of $103,450.00. Following the completion of the transaction, the executive vice president directly owned 20,075 shares of the company’s stock, valued at approximately $2,076,758.75. This trade represents a 4.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NetApp

Several institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. raised its position in NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after acquiring an additional 210 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of NetApp during the 2nd quarter worth approximately $315,000. Assetmark Inc. raised its holdings in shares of NetApp by 1,157.2% in the 2nd quarter. Assetmark Inc. now owns 3,759 shares of the data storage provider’s stock worth $401,000 after purchasing an additional 3,460 shares during the period. Atria Investments Inc raised its holdings in shares of NetApp by 98.3% in the 2nd quarter. Atria Investments Inc now owns 9,424 shares of the data storage provider’s stock worth $1,004,000 after purchasing an additional 4,672 shares during the period. Finally, Versor Investments LP purchased a new position in NetApp in the second quarter valued at approximately $277,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Trading Up 2.6%

NTAP opened at $102.11 on Friday. The company has a market cap of $20.15 billion, a P/E ratio of 17.08, a PEG ratio of 3.13 and a beta of 1.39. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The company’s 50 day moving average is $102.34 and its 200-day moving average is $111.03. NetApp has a 1-year low of $71.84 and a 1-year high of $126.66.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the prior year, the company earned $1.91 EPS. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. 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 research analysts predict that NetApp will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be issued a dividend of $0.52 per share. The ex-dividend date is Thursday, April 2nd. This represents a $2.08 annualized dividend and a yield of 2.0%. NetApp’s dividend payout ratio (DPR) is presently 34.78%.

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.