NetApp (NASDAQ:NTAP) Earns Buy Rating from Analysts at The Goldman Sachs Group

Equities researchers at The Goldman Sachs Group started coverage on shares of NetApp (NASDAQ:NTAP) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $128.00 price target on the data storage provider’s stock. The Goldman Sachs Group’s target price indicates a potential upside of 19.31% from the stock’s previous close.

A number of other equities analysts have also weighed in on NTAP. UBS Group upped their price target on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. Wells Fargo & Company increased their price target on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. Barclays boosted their price objective on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. Finally, Northland Capmk raised NetApp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.33.

NetApp Stock Performance

NASDAQ:NTAP opened at $107.28 on Tuesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The stock has a 50-day simple moving average of $110.66 and a two-hundred day simple moving average of $112.44. The firm has a market capitalization of $21.25 billion, a PE ratio of 18.66, a P/E/G ratio of 2.36 and a beta of 1.38. NetApp has a 52-week low of $71.84 and a 52-week high of $127.78.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 121.28% and a net margin of 17.73%.The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm 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 forecast that NetApp will post 5.89 EPS for the current year.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $107.48, for a total transaction of $35,145.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.28% of the company’s stock.

Institutional Trading of NetApp

Hedge funds have recently modified their holdings of the company. KMG Fiduciary Partners LLC grew its holdings in shares of NetApp by 3.4% in the fourth quarter. KMG Fiduciary Partners LLC now owns 24,005 shares of the data storage provider’s stock valued at $2,571,000 after purchasing an additional 781 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in NetApp by 176.3% during the fourth quarter. JFS Wealth Advisors LLC now owns 315 shares of the data storage provider’s stock valued at $34,000 after purchasing an additional 201 shares in the last quarter. Global X Japan Co. Ltd. lifted its position in NetApp by 314.6% during the fourth quarter. Global X Japan Co. Ltd. now owns 6,235 shares of the data storage provider’s stock valued at $668,000 after purchasing an additional 4,731 shares during the last quarter. Czech National Bank grew its stake in shares of NetApp by 3.6% in the 4th quarter. Czech National Bank now owns 52,637 shares of the data storage provider’s stock worth $5,637,000 after buying an additional 1,816 shares in the last quarter. Finally, Pensionfund Sabic bought a new stake in shares of NetApp in the 4th quarter worth about $1,306,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

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.