NetApp, Inc. (NASDAQ:NTAP) Receives Average Recommendation of "Hold" from Analysts

Shares of NetApp, Inc. (NASDAQ:NTAP - Get Free Report) have been given an average rating of "Hold" by the fifteen brokerages that are covering the firm, Marketbeat.com reports. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $179.7692.

A number of equities analysts have recently commented on NTAP shares. Wedbush lifted their target price on shares of NetApp from $115.00 to $150.00 and gave the company a "neutral" rating in a report on Friday, May 29th. JPMorgan Chase & Co. increased their price target on shares of NetApp from $110.00 to $150.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Barclays raised their price objective on shares of NetApp from $120.00 to $199.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Citigroup lifted their price objective on shares of NetApp from $150.00 to $209.00 and gave the company a "neutral" rating in a research note on Tuesday, August 18th. Finally, Argus upped their target price on shares of NetApp from $130.00 to $200.00 and gave the company a "buy" rating in a report on Monday, June 1st.

NetApp News Summary

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp was named a Leader in Gartner’s 2026 Magic Quadrant for Enterprise Storage Platforms and ranked first for the Hybrid Cloud Storage Use Case. The recognition could support customer confidence and strengthen NetApp’s competitive position. NetApp Named a Leader in the 2026 Gartner Magic Quadrant for Enterprise Storage Platforms
• Positive Sentiment: Analyst commentary highlighted momentum in NetApp’s Public Cloud business, driven by hyperscaler storage demand. Strong margins could create operating leverage as cloud revenue expands. Will NetApp's Public Cloud Business Maintain Its Growth Momentum?
• Positive Sentiment: Technical coverage noted that NTAP recently moved above its 20-day moving average, a signal that could indicate improving short-term momentum and technical support. NetApp Just Overtook the 20-Day Moving Average
• Neutral Sentiment: NetApp plans to participate in upcoming investor conferences, which may provide management with an opportunity to discuss demand, cloud growth and its outlook, but no new financial information was announced. NetApp to Participate in Upcoming Conferences
• Neutral Sentiment: Comparisons with Super Micro Computer focused on relative valuation and investment appeal, offering context for investors but no company-specific change to NetApp’s fundamentals. SMCI vs. NTAP: Which Stock Is the Better Value Option?
• Negative Sentiment: The stock declined despite a stronger market session, indicating possible profit-taking or concern that its elevated valuation already reflects much of the expected growth. NetApp’s latest reported quarter also included an earnings-per-share miss, despite revenue exceeding estimates, which may keep investors focused on execution. NetApp Stock Falls Amid Market Uptick

Insider Activity at NetApp

In related news, President Cesar Cernuda sold 49,464 shares of the business's stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president owned 46,806 shares in the company, valued at $7,246,504.92. The trade was a 51.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Lorenzo Daniel De sold 225 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $171.09, for a total value of $38,495.25. Following the sale, the chief accounting officer directly owned 1,090 shares of the company's stock, valued at approximately $186,488.10. This represents a 17.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,297 shares of company stock worth $8,758,016 in the last quarter. Company insiders own 0.36% of the company's stock.

Institutional Investors Weigh In On NetApp

Several large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its stake in shares of NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock worth $67,000 after acquiring an additional 210 shares during the period. Sivia Capital Partners LLC acquired a new stake in NetApp in the second quarter valued at about $315,000. Cerity Partners LLC lifted its position 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 purchasing an additional 4,232 shares during the period. Bank of Nova Scotia boosted its holdings in NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider's stock valued at $2,589,000 after purchasing an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in NetApp by 12.7% in the 2nd quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider's stock valued at $2,148,000 after purchasing an additional 2,277 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

NetApp Trading Down 1.7%

NTAP opened at $190.64 on Friday. The firm has a market cap of $37.41 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 3.45 and a beta of 1.45. NetApp has a 52 week low of $93.69 and a 52 week high of $209.06. The business's 50 day moving average is $175.36 and its two-hundred day moving average is $137.69. The company has a quick ratio of 1.39, a current ratio of 1.44 and a debt-to-equity ratio of 1.84.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 EPS. On average, research analysts predict that NetApp will post 7.34 EPS for the current year.

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.

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