NetApp, Inc. (NASDAQ:NTAP) Receives $169.33 Average PT from Brokerages

NetApp, Inc. (NASDAQ:NTAP) has earned an average recommendation of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $169.3333.

A number of equities analysts have weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and set a $200.00 price target on shares of NetApp in a research report on Tuesday, June 2nd. Wall Street Zen raised NetApp from a “hold” rating to a “strong-buy” rating in a research report on Saturday, June 13th. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Susquehanna upped their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $160.00 target price on shares of NetApp in a research report on Friday, May 29th.

NetApp Price Performance

Shares of NASDAQ NTAP opened at $159.71 on Friday. The business’s 50 day moving average price is $131.77 and its two-hundred day moving average price is $113.99. The company has a market cap of $31.29 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.92 and a beta of 1.45. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84. NetApp has a twelve month low of $93.69 and a twelve month high of $192.83.

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). The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.NetApp’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, analysts predict that NetApp will post 7.16 EPS for the current year.

NetApp Dividend Announcement

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

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the transaction, the executive vice president owned 18,382 shares of the company’s stock, valued at approximately $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,500 shares of company stock worth $448,955 in the last ninety days. 0.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On NetApp

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in NetApp by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 5,007 shares of the data storage provider’s stock valued at $536,000 after buying an additional 101 shares during the period. Park Square Financial Group LLC boosted its position in NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after buying an additional 103 shares during the period. Assetmark Inc. boosted its position in NetApp by 3.0% in the 1st quarter. Assetmark Inc. now owns 3,540 shares of the data storage provider’s stock valued at $362,000 after buying an additional 104 shares during the period. Transcend Capital Advisors LLC boosted its position in NetApp by 5.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 1,953 shares of the data storage provider’s stock valued at $209,000 after buying an additional 107 shares during the period. Finally, Fifth Third Bancorp boosted its position in NetApp by 0.9% in the 4th quarter. Fifth Third Bancorp now owns 12,559 shares of the data storage provider’s stock valued at $1,345,000 after buying an additional 108 shares during the period. Institutional investors and hedge funds 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.