Citigroup Issues Positive Forecast for NetApp (NASDAQ:NTAP) Stock Price

Key Points

• Citigroup raised its price target on NetApp from $114 to $150 while keeping a neutral rating. Even after the increase, the target still implies downside from the current share price.
• Analyst opinion is mixed overall, with several firms recently adjusting targets and ratings in both directions. MarketBeat says the stock has a consensus Hold rating and an average price target of $152.08.
• NetApp’s latest quarter showed strong revenue growth but an EPS miss: revenue rose 12.5% year over year to $1.95 billion, while EPS came in at $2.03 versus expectations of $2.27. The company also issued upbeat FY2027 guidance and announced a new $1 billion share buyback.

NetApp (NASDAQ:NTAP - Get Free Report) had its price target increased by equities research analysts at Citigroup from $114.00 to $150.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the data storage provider's stock. Citigroup's target price would suggest a potential downside of 17.12% from the stock's current price.

Other analysts also recently issued reports about the company. Wall Street Zen downgraded NetApp from a "buy" rating to a "hold" rating in a research note on Sunday, April 19th. Morgan Stanley increased their target price on NetApp from $88.00 to $137.00 and gave the stock an "underweight" rating in a research note on Friday. Barclays reissued an "overweight" rating and set a $199.00 target price on shares of NetApp in a research note on Friday. UBS Group reissued a "neutral" rating and set a $160.00 target price on shares of NetApp in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded NetApp from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $152.08.

NetApp Stock Performance

NTAP traded up $38.59 on Friday, hitting $180.99. 8,208,660 shares of the company traded hands, compared to its average volume of 2,557,765. The company has a 50 day moving average of $110.99 and a 200-day moving average of $107.48. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The stock has a market capitalization of $35.71 billion, a PE ratio of 30.20, a PEG ratio of 2.60 and a beta of 1.28. NetApp has a 12-month low of $93.69 and a 12-month high of $192.83.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing the consensus estimate of $2.27 by ($0.24). The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm's revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.93 earnings per share. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Sell-side analysts anticipate that NetApp will post 6.48 earnings per share for the current year.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 275 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $130,800. This trade represents a 20.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total value of $117,730.00. Following the sale, the executive vice president owned 18,382 shares in the company, valued at approximately $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 3,275 shares of company stock valued at $347,650 in the last ninety days. Company insiders own 0.28% of the company's stock.

Institutional Investors Weigh In On NetApp

A number of institutional investors have recently made changes to their positions in NTAP. Abich Financial Wealth Management LLC bought a new stake in shares of NetApp in the 3rd quarter valued at approximately $27,000. Rossby Financial LCC grew its stake in NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock worth $27,000 after buying an additional 115 shares during the last quarter. Park Square Financial Group LLC grew its stake in NetApp by 68.7% during the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock worth $29,000 after buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc bought a new position in NetApp during the 4th quarter worth $30,000. Finally, DV Equities LLC bought a new position in NetApp during the 4th quarter worth $30,000. 92.17% of the stock is currently owned by institutional investors.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp beat Q4 revenue expectations and posted revenue of $1.95 billion, up about 12.5% year over year, signaling healthy demand for its storage and hybrid cloud offerings. NetApp Q4 Earnings & Revenues Surpass Estimates, Stock Up
• Positive Sentiment: The company’s FY2027 outlook came in ahead of Wall Street estimates, with guidance for both EPS and revenue above consensus, reinforcing confidence that AI and hybrid cloud adoption are accelerating growth. Analyst Reiterates Buy on NetApp as Strong Q Results and FY27 Outlook Signal Sustainable Growth and Margin Expansion
• Positive Sentiment: NetApp also announced a new $1 billion share repurchase authorization, which can support shareholder returns and help offset dilution. NetApp Announces New $1 Billion Share Repurchase Program
• Neutral Sentiment: Several Wall Street firms raised price targets after the report, but ratings were mixed, with some firms keeping neutral/hold stances despite the stronger results.
• Neutral Sentiment: NetApp declared a quarterly dividend of $0.52 per share, adding to its income appeal for investors, though this is not the main catalyst for the stock move.
• Negative Sentiment: Despite the upbeat report, NetApp still missed consensus on Q4 EPS, which may limit how far the stock can run if margins remain under pressure. NetApp (NTAP) Stock Falls on Q4 2026 Earnings

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.