Brokerages Set NetApp, Inc. (NASDAQ:NTAP) Target Price at $124.33

Shares of NetApp, Inc. (NASDAQ:NTAP) have received a consensus rating of “Moderate Buy” from the nineteen analysts that are covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $124.3333.

Several equities research analysts have recently issued reports on NTAP shares. William Blair reaffirmed a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. The Goldman Sachs Group assumed coverage on NetApp in a research report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. Oppenheimer reissued a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Finally, Bank of America lifted their price target on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 26th.

Insider Buying and Selling

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Monday, January 12th. The stock was sold at an average price of $105.49, for a total transaction of $105,490.00. Following the completion of the transaction, the executive vice president owned 21,075 shares in the company, valued at $2,223,201.75. The trade was a 4.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 327 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,654 shares of company stock valued at $175,782 over the last three months. 0.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NetApp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hartford Financial Management Inc. grew its stake in NetApp by 272.5% in the 4th quarter. Hartford Financial Management Inc. now owns 853 shares of the data storage provider’s stock worth $91,000 after acquiring an additional 624 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of NetApp by 2.9% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 21,795 shares of the data storage provider’s stock valued at $2,334,000 after purchasing an additional 615 shares during the period. Robinhood Asset Management LLC bought a new position in NetApp in the fourth quarter worth approximately $4,588,000. Signaturefd LLC grew its stake in NetApp by 2.6% in the fourth quarter. Signaturefd LLC now owns 4,790 shares of the data storage provider’s stock worth $513,000 after purchasing an additional 122 shares in the last quarter. Finally, Savvy Advisors Inc. increased its holdings in NetApp by 72.8% during the 4th quarter. Savvy Advisors Inc. now owns 3,906 shares of the data storage provider’s stock worth $418,000 after purchasing an additional 1,645 shares during the period. Institutional investors own 92.17% of the company’s stock.

NetApp Price Performance

NTAP stock opened at $97.09 on Thursday. NetApp has a 52 week low of $71.84 and a 52 week high of $127.78. The firm has a market capitalization of $19.23 billion, a P/E ratio of 16.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.38. The company has a fifty day simple moving average of $109.42 and a two-hundred day simple moving average of $112.20. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52.

NetApp (NASDAQ:NTAP) last announced its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.17. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior 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. Analysts anticipate that NetApp will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 21st. Stockholders of record on Friday, January 2nd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.1%. NetApp’s dividend payout ratio is currently 36.17%.

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.