NetApp, Inc. (NASDAQ:NTAP) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of NetApp, Inc. (NASDAQ:NTAP) have received a consensus rating of “Hold” from the sixteen research firms that are presently covering the firm, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $119.8571.

A number of research firms have recently weighed in on NTAP. Evercore ISI reduced their target price on shares of NetApp from $120.00 to $100.00 and set an “in-line” rating for the company in a research report on Monday, April 28th. Citigroup increased their target price on shares of NetApp from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Monday, August 11th. Barclays increased their target price on shares of NetApp from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Morgan Stanley began coverage on shares of NetApp in a research report on Thursday. They set an “equal weight” rating and a $115.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $105.90, for a total transaction of $105,900.00. Following the sale, the executive vice president directly owned 23,251 shares in the company, valued at approximately $2,462,280.90. This represents a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Lorenzo Daniel De sold 302 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $98.77, for a total transaction of $29,828.54. Following the sale, the chief accounting officer owned 455 shares in the company, valued at $44,940.35. The trade was a 39.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,802 shares of company stock worth $2,951,604. 0.28% of the stock is owned by corporate insiders.

Institutional Trading of NetApp

Institutional investors have recently modified their holdings of the business. Manchester Capital Management LLC lifted its stake in shares of NetApp by 375.0% during the 1st quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock valued at $25,000 after buying an additional 225 shares in the last quarter. 1248 Management LLC purchased a new stake in NetApp in the 1st quarter worth approximately $25,000. Harbour Investments Inc. lifted its stake in NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. Harbor Asset Planning Inc. purchased a new stake in NetApp in the 2nd quarter worth approximately $28,000. Finally, Olde Wealth Management LLC purchased a new stake in NetApp in the 1st quarter worth approximately $29,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

NetApp Trading Up 2.5%

Shares of NTAP stock opened at $110.52 on Monday. NetApp has a 52-week low of $71.84 and a 52-week high of $135.45. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.22 and a current ratio of 1.25. The company has a 50-day simple moving average of $105.83 and a two-hundred day simple moving average of $100.54. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 2.48 and a beta of 1.44.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the prior year, the firm posted $1.80 EPS. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q1 2026 guidance at 1.480-1.580 EPS. Research analysts anticipate that NetApp will post 5.89 EPS for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, July 3rd. NetApp’s dividend payout ratio is presently 36.62%.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.