Susquehanna Raises NetApp (NASDAQ:NTAP) Price Target to $185.00

Key Points

• Susquehanna raised its price target on NetApp to $185 from $110, while keeping a neutral rating. The new target still implies a slight downside from the current stock price.
• NetApp shares have surged sharply, recently trading around $191.58 and near their 52-week high, after climbing 34.5% in the session cited. Trading volume was also above average.
• The company’s latest earnings showed revenue growth of 12.5% year over year to $1.95 billion, but EPS missed analyst expectations. NetApp also lifted its FY2027 guidance and announced a $1 billion buyback program, supporting investor sentiment.

NetApp (NASDAQ:NTAP - Get Free Report) had its price target upped by investment analysts at Susquehanna from $110.00 to $185.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the data storage provider's stock. Susquehanna's target price points to a potential downside of 3.44% from the stock's current price.

A number of other research firms have also recently issued reports on NTAP. JPMorgan Chase & Co. cut NetApp from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $125.00 to $110.00 in a research note on Thursday, April 16th. Barclays reissued an "overweight" rating and set a $199.00 price objective on shares of NetApp in a research report on Friday. Northland Securities upped their target price on shares of NetApp from $137.00 to $171.00 and gave the stock an "outperform" rating in a research note on Friday. Bank of America lifted their price target on NetApp from $118.00 to $125.00 and gave the company a "neutral" rating in a research note on Wednesday, May 20th. Finally, Citigroup cut NetApp from a "neutral" rating to a "mixed" rating in a research report on Thursday, May 14th. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $140.33.

NetApp Trading Up 34.5%

NetApp stock traded up $49.18 during mid-day trading on Friday, hitting $191.58. 2,794,513 shares of the company's stock were exchanged, compared to its average volume of 2,500,818. The firm has a market capitalization of $37.80 billion, a P/E ratio of 32.05, a PEG ratio of 2.60 and a beta of 1.28. NetApp has a fifty-two week low of $93.69 and a fifty-two week high of $190.89. 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 company's 50 day simple moving average is $110.99 and its 200-day simple moving average is $107.48.

NetApp (NASDAQ:NTAP - Get Free Report) last posted its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.27 by ($0.24). NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same period in the previous year, the firm posted $1.93 earnings per share. The firm's revenue was up 12.5% on a year-over-year basis. 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 analysts anticipate that NetApp will post 6.48 earnings per share for the current year.

Insider Buying and Selling at NetApp

In other 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 value of $33,000.00. Following the completion of the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. This trade represents a 20.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of NetApp 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 completion of the sale, the executive vice president directly owned 18,382 shares in the company, valued at approximately $2,164,112.86. This represents a 5.16% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,275 shares of company stock worth $347,650 over the last quarter. Company insiders own 0.28% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Abich Financial Wealth Management LLC acquired a new position in shares of NetApp during the 3rd quarter worth approximately $27,000. Rossby Financial LCC boosted its holdings in shares of NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider's stock valued at $27,000 after buying an additional 115 shares during the last quarter. Park Square Financial Group LLC boosted its holdings in shares of NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider's stock valued at $29,000 after buying an additional 103 shares during the last quarter. Gen Wealth Partners Inc bought a new position in shares of NetApp in the fourth quarter valued at $30,000. Finally, DV Equities LLC acquired a new position in NetApp during the fourth quarter worth $30,000. 92.17% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting NetApp

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

About NetApp

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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