NetApp (NASDAQ:NTAP) Price Target Raised to $171.00

Key Points

• Northland Securities raised NetApp’s price target from $137 to $171 and kept an outperform rating, though the new target still implies downside from the stock’s prior close.
• NetApp reported fiscal Q4 revenue of $1.95 billion, which topped estimates and rose 12.5% year over year, but EPS of $2.03 missed analyst expectations.
• The company also lifted its FY 2027 and Q1 2027 guidance and announced a $1 billion share repurchase program plus a quarterly dividend, reinforcing a more optimistic outlook for shareholder returns.

NetApp (NASDAQ:NTAP - Get Free Report) had its target price raised by equities research analysts at Northland Securities from $137.00 to $171.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the data storage provider's stock. Northland Securities' target price indicates a potential downside of 6.67% from the stock's previous close.

Other research analysts have also issued research reports about the company. Barclays reissued an "overweight" rating on shares of NetApp in a report on Friday. Citigroup cut shares of NetApp from a "neutral" rating to a "mixed" rating in a research note on Thursday, May 14th. Wall Street Zen downgraded shares of NetApp from a "buy" rating to a "hold" rating in a report on Sunday, April 19th. Wedbush reissued a "neutral" rating and issued a $115.00 target price on shares of NetApp in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. lowered NetApp from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, NetApp currently has an average rating of "Hold" and an average price target of $127.18.

NetApp Trading Up 28.7%

Shares of NTAP stock opened at $183.22 on Friday. The company has a market capitalization of $36.15 billion, a PE ratio of 30.71, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28. NetApp has a 52-week low of $93.69 and a 52-week high of $170.97. The business's fifty day moving average is $110.99 and its 200 day moving average is $107.48. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results 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 business had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.87 billion. NetApp had a return on equity of 118.11% and a net margin of 18.07%.NetApp's quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, equities research analysts anticipate that NetApp will post 6.48 EPS for the current fiscal year.

Insider Activity

In related news, CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the sale, the chief accounting officer owned 1,090 shares of the company's stock, valued at $130,800. This represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the business's stock in a transaction dated Monday, May 11th. The stock was 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 $2,164,112.86. The trade was a 5.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 3,275 shares of company stock valued at $347,650. Insiders own 0.28% of the company's stock.

Institutional Investors Weigh In On NetApp

Several hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its position in NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock worth $67,000 after purchasing an additional 210 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in NetApp during the second quarter worth $315,000. Cerity Partners LLC raised its position in NetApp by 9.9% during the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider's stock worth $4,986,000 after acquiring an additional 4,232 shares during the period. Bank of Nova Scotia lifted its holdings in NetApp by 7.3% during the second 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 grew its position in shares of NetApp by 12.7% in the second 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 during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

Key NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, up 12.5% year over year and above Wall Street estimates, showing continued demand for its data storage products. NetApp (NTAP) Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management raised first-quarter and full-year FY 2027 guidance above consensus, signaling confidence in growth and execution going forward. Wamsi Mohan Reiterates Hold on NetApp, Lifts Price Target to $150 Amid Strong Execution but Valuation and Margin Headwinds
• Positive Sentiment: NetApp announced a new $1 billion share repurchase program and a quarterly dividend, both of which can support shareholder returns. NetApp Announces New $1 Billion Share Repurchase Program
• Neutral Sentiment: Analysts remain split: Bank of America raised its target to $150 but kept a Hold rating, while Morgan Stanley lifted its target to $137 but maintained an Underweight view, suggesting valuation concerns remain. Benzinga analyst update on NetApp price target
• Negative Sentiment: NetApp’s Q4 EPS of $2.03 missed expectations, and some coverage notes margin and valuation headwinds, which may limit upside if investors focus on profitability rather than sales growth. 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.

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