Bank of America Issues Positive Forecast for NetApp (NASDAQ:NTAP) Stock Price

Key Points

• Bank of America raised its target price for NetApp stock from $121.00 to $125.00, indicating a potential upside of 13.25% from its previous close.
• The average rating for NetApp stock is currently "Hold," with a consensus target price of $119.64 among analysts.
• NetApp reported earnings of $1.93 per share, exceeding analysts' expectations, and showing a revenue growth of 3.8% compared to the same quarter last year.

NetApp (NASDAQ:NTAP - Get Free Report) had its target price hoisted by investment analysts at Bank of America from $121.00 to $125.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "neutral" rating on the data storage provider's stock. Bank of America's target price points to a potential upside of 13.25% from the stock's previous close.

A number of other analysts also recently issued reports on NTAP. Citigroup raised their price target on NetApp from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Evercore ISI lowered their price target on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a research report on Monday, April 28th. Wells Fargo & Company lowered their price target on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Barclays raised their price target on NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Finally, Morgan Stanley assumed coverage on NetApp in a research report on Thursday. They issued an "equal weight" rating and a $115.00 price target for the company. Six analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $119.64.

NetApp Price Performance

Shares of NTAP stock traded down $0.1490 on Monday, reaching $110.3710. The company's stock had a trading volume of 731,614 shares, compared to its average volume of 2,013,085. The stock's fifty day simple moving average is $105.83 and its 200-day simple moving average is $100.22. NetApp has a 1 year low of $71.84 and a 1 year high of $135.45. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $22.11 billion, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 2.58 and a beta of 1.44.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share for the quarter, beating 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 firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm posted $1.80 earnings per share. NetApp's revenue for the quarter 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. Analysts forecast that NetApp will post 5.89 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Hedge Funds Weigh In On NetApp

Large investors have recently added to or reduced their stakes in the company. Harbour Investments Inc. raised its holdings in NetApp by 287.9% in the second 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 shares of NetApp during the second quarter worth about $28,000. Itau Unibanco Holding S.A. grew its stake in shares of NetApp by 929.6% during the fourth quarter. Itau Unibanco Holding S.A. now owns 278 shares of the data storage provider's stock worth $32,000 after acquiring an additional 251 shares during the last quarter. 1248 Management LLC purchased a new stake in shares of NetApp during the first quarter worth about $25,000. Finally, Manchester Capital Management LLC grew its stake in shares of NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock worth $25,000 after acquiring an additional 225 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.