Brokerages Set NetApp, Inc. (NASDAQ:NTAP) Price Target at $124.07

NetApp, Inc. (NASDAQ:NTAP) has earned an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the stock, MarketBeat reports. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $124.0714.

NTAP has been the subject of several recent analyst reports. Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 26th. Northland Securities set a $137.00 price target on shares of NetApp and gave the company an “outperform” rating in a report on Wednesday, November 26th. William Blair restated a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Morgan Stanley set a $117.00 price objective on NetApp in a research note on Thursday, August 28th. Finally, UBS Group boosted their target price on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th.

NetApp Trading Down 1.0%

NASDAQ NTAP opened at $109.84 on Friday. NetApp has a 12 month low of $71.84 and a 12 month high of $127.78. The stock has a 50-day simple moving average of $113.62 and a 200 day simple moving average of $112.04. 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 company has a market capitalization of $21.75 billion, a PE ratio of 19.10, a P/E/G ratio of 2.45 and a beta of 1.42.

NetApp (NASDAQ:NTAP) last posted its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.17. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.87 EPS. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Research analysts forecast that NetApp will post 5.89 EPS for the current year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be given a $0.52 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.08 annualized dividend and a dividend yield of 1.9%. NetApp’s payout ratio is currently 36.17%.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 327 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the transaction, the executive vice president owned 22,628 shares of the company’s stock, valued at $2,692,732. This trade represents a 4.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,433 shares of company stock valued at $284,229. 0.28% of the stock is owned by company insiders.

Institutional Trading of NetApp

Institutional investors have recently made changes to their positions in the business. 1248 Management LLC bought a new position in NetApp in the first quarter valued at $25,000. Harbour Investments Inc. grew its holdings in shares of NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of NetApp in the 3rd quarter valued at about $27,000. Rossby Financial LCC increased its position in shares of 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 acquiring an additional 115 shares during the last quarter. Finally, Harbor Asset Planning Inc. bought a new stake in NetApp during the second quarter worth about $28,000. Institutional investors own 92.17% of the company’s stock.

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.