Analysts Set NetApp, Inc. (NASDAQ:NTAP) Price Target at $119.21

Shares of NetApp, Inc. (NASDAQ:NTAP - Get Free Report) have been assigned an average recommendation of "Hold" from the sixteen brokerages that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $119.2143.

Several brokerages have recently weighed in on NTAP. Citigroup upped their price target on NetApp from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. upped their price target on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Evercore ISI decreased their price target on NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. UBS Group decreased their price target on NetApp from $115.00 to $108.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Finally, Barclays upped their price target on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research report on Friday, May 30th.

NetApp Stock Performance

NetApp stock traded down $0.74 during midday trading on Monday, reaching $108.42. The stock had a trading volume of 2,498,818 shares, compared to its average volume of 2,028,972. NetApp has a 12 month low of $71.84 and a 12 month high of $135.45. The firm's 50-day moving average price is $105.42 and its 200 day moving average price is $100.65. The firm has a market capitalization of $21.72 billion, a PE ratio of 19.09, a P/E/G ratio of 2.50 and a beta of 1.44. The company has a quick ratio of 1.22, a current ratio of 1.25 and a debt-to-equity ratio of 2.39.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. NetApp had a return on equity of 126.96% and a net margin of 18.05%.The business had revenue of $1.73 billion for the quarter, compared to analysts' expectations of $1.72 billion. During the same period in the previous year, the business 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. As a group, research analysts predict that NetApp will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

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

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the completion of the transaction, the chief executive officer owned 296,805 shares of the company's stock, valued at approximately $30,208,812.90. The trade was a 2.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $105,900.00. Following the transaction, the executive vice president directly owned 23,251 shares of the company's stock, valued at $2,462,280.90. The trade was a 4.12% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,302 shares of company stock valued at $2,026,379. 0.28% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank purchased a new stake in NetApp in the second quarter worth approximately $281,093,000. Boston Partners boosted its stake in NetApp by 108.9% in the second quarter. Boston Partners now owns 2,947,200 shares of the data storage provider's stock worth $313,997,000 after buying an additional 1,536,339 shares in the last quarter. Pacer Advisors Inc. boosted its stake in NetApp by 4,687.6% in the first quarter. Pacer Advisors Inc. now owns 1,068,694 shares of the data storage provider's stock worth $93,874,000 after buying an additional 1,046,372 shares in the last quarter. Geode Capital Management LLC boosted its stake in NetApp by 16.8% in the second quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider's stock worth $756,665,000 after buying an additional 1,024,626 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in NetApp by 1,230.3% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,007,591 shares of the data storage provider's stock worth $107,359,000 after buying an additional 931,850 shares in the last quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

About NetApp

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.