NetApp, Inc. (NASDAQ:NTAP) Receives $169.33 Consensus PT from Analysts

Shares of NetApp, Inc. (NASDAQ:NTAP) have been given a consensus recommendation of “Hold” by the fifteen analysts that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $169.3333.

Several analysts recently commented on the company. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Barclays increased their price target on NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Morgan Stanley raised their price target on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research report on Friday, May 29th. Northland Securities lifted their price objective on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $200.00 price objective on shares of NetApp in a research report on Tuesday, June 2nd.

NetApp Stock Down 7.1%

Shares of NASDAQ:NTAP opened at $162.10 on Thursday. NetApp has a 52 week low of $93.69 and a 52 week high of $192.83. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44. The company has a market capitalization of $31.76 billion, a PE ratio of 25.49, a PEG ratio of 3.19 and a beta of 1.46. The company has a 50 day moving average price of $151.43 and a two-hundred day moving average price of $119.88.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). NetApp had a return on equity of 117.23% and a net margin of 18.43%.The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same period in the prior year, the business earned $1.93 earnings per share. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Analysts forecast that NetApp will post 7.16 earnings per share for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. NetApp’s payout ratio is presently 32.70%.

Insider Activity

In other news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the completion of the sale, the president owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Friday, July 10th. The stock was sold at an average price of $170.92, for a total transaction of $170,920.00. Following the sale, the executive vice president owned 31,297 shares in the company, valued at approximately $5,349,283.24. The trade was a 3.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 52,964 shares of company stock worth $8,181,642 over the last quarter. 0.28% of the stock is currently owned by company insiders.

Institutional Trading of NetApp

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp raised its position in NetApp by 1.1% in the 4th quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock valued at $1,091,499,000 after buying an additional 115,451 shares during the last quarter. Wellington Management Group LLP lifted its stake in NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after acquiring an additional 718,409 shares in the last quarter. Norges Bank acquired a new position in NetApp during the 4th quarter worth approximately $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of NetApp by 17.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock worth $442,018,000 after acquiring an additional 611,003 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of NetApp by 127.0% during the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after acquiring an additional 2,046,912 shares in the last quarter. Institutional investors and hedge funds 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.