NetApp, Inc. (NASDAQ:NTAP) Receives $179.77 Consensus PT from Analysts

NetApp, Inc. (NASDAQ:NTAP) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $192.0714.

A number of research firms have commented on NTAP. TD Cowen reissued a “buy” rating and issued a $200.00 price objective on shares of NetApp in a research note on Thursday. UBS Group raised their price target on shares of NetApp from $160.00 to $171.00 and gave the company a “neutral” rating in a report on Thursday. Wedbush boosted their price objective on shares of NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore set a $210.00 target price on shares of NetApp in a research report on Monday, August 24th. Finally, Susquehanna increased their price target on NetApp from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Thursday.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $185.38 on Friday. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The business’s fifty day moving average price is $178.07 and its two-hundred day moving average price is $140.54. NetApp has a fifty-two week low of $93.69 and a fifty-two week high of $209.06. The stock has a market capitalization of $36.38 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 2.46 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.12 by $0.46. The company had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 127.57%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, analysts predict that NetApp will post 7.34 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, October 9th. NetApp’s dividend payout ratio (DPR) is currently 32.70%.

Insider Activity

In other NetApp news, EVP Elizabeth O’Callahan sold 1,000 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the transaction, the executive vice president directly owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the business’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the transaction, 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 SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 55,072 shares of company stock worth $8,719,520. Corporate insiders own 0.36% of the company’s stock.

Hedge Funds Weigh In On NetApp

Several hedge funds have recently made changes to their positions in NTAP. Geneos Wealth Management Inc. increased its stake in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in NetApp in the second quarter valued at approximately $315,000. Cerity Partners LLC raised its stake in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after buying an additional 4,232 shares during the period. Bank of Nova Scotia lifted its position in shares of NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after buying an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in NetApp by 12.7% during the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock worth $2,148,000 after purchasing an additional 2,277 shares during the period. 92.17% of the stock is owned by institutional investors.

Key Stories Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q1 revenue of approximately $2.03 billion, up 30% year over year, while adjusted EPS of $2.58 exceeded the roughly $2.12 analyst consensus. All-flash array revenue rose 47% to $1.31 billion, and public-cloud revenue increased 28%, underscoring strong demand tied to AI infrastructure, data modernization and hybrid cloud adoption. NTAP Q1 Earnings and Revenues Top Estimates on AI and All-Flash Strength
• Positive Sentiment: The company raised its fiscal 2027 forecast to approximately $7.98 billion-$8.23 billion in revenue and $9.73-$10.03 in adjusted EPS, well above prior Wall Street expectations. Second-quarter guidance also topped consensus, supporting the view that AI-led infrastructure spending is becoming durable. NetApp Forecasts Fiscal 2027 Revenue and Raises EPS Outlook
• Positive Sentiment: Analyst sentiment remains broadly constructive following the report. TD Cowen reaffirmed its Buy rating with a $200 target, while Goldman Sachs maintained its Buy rating and a $210 target; Morgan Stanley, Susquehanna and other firms also raised targets. NetApp Analysts Boost Their Forecasts After Strong Q1 Earnings
• Neutral Sentiment: NetApp announced a quarterly dividend of $0.52 per share, payable October 28 to shareholders of record October 9, providing continued income support for investors. NetApp Declares a $0.52 Dividend
• Negative Sentiment: The initial reaction was negative because operating cash flow and free cash flow declined year over year, inventory increased, and management warned that second-quarter gross margin would fall sequentially amid component costs and product-mix pressure. With expectations elevated after a significant rally, investors viewed the results as a mixed bag despite the earnings beat. NetApp Beats Estimates but Tumbles on Free Cash Flow Decline

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.