NetApp (NASDAQ:NTAP) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of NetApp (NASDAQ:NTAP) in a report issued on Tuesday, Marketbeat.com reports. The brokerage set a “buy” rating and a $128.00 price target on the data storage provider’s stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 19.31% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of NetApp in a report on Wednesday, October 8th. Northland Securities set a $137.00 price objective on shares of NetApp and gave the stock an “outperform” rating in a research report on Wednesday, November 26th. Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 26th. UBS Group upped 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. Finally, Bank of America raised their price target on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.33.

NetApp Price Performance

NASDAQ:NTAP opened at $107.28 on Tuesday. The firm has a market capitalization of $21.25 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.36 and a beta of 1.38. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. The business has a 50 day simple moving average of $110.66 and a 200-day simple moving average of $112.44. NetApp has a 1 year low of $71.84 and a 1 year high of $127.78.

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, beating the consensus estimate of $1.88 by $0.17. The company had revenue of $1.71 billion for 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%.NetApp’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. Equities analysts forecast that NetApp will post 5.89 EPS for the current year.

Insiders Place Their Bets

In other NetApp news, 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 transaction of $35,145.96. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NetApp

Hedge funds have recently modified their holdings of the business. Rossby Financial LCC increased its holdings in NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after buying an additional 115 shares during the period. Abich Financial Wealth Management LLC bought a new stake in NetApp during the 3rd quarter valued at $27,000. Harbour Investments Inc. increased 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 during the period. Harbor Asset Planning Inc. bought a new position in shares of NetApp in the 2nd quarter worth $28,000. Finally, CVA Family Office LLC lifted its stake in shares of NetApp by 300.0% during the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock worth $31,000 after purchasing an additional 219 shares during the last quarter. Hedge funds and other 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.