Wedbush Forecasts Strong Price Appreciation for NetApp (NASDAQ:NTAP) Stock

Key Points

• Wedbush raised its price target on NetApp from $115 to $150 while keeping a neutral rating, though the new target still implies downside from the stock’s then-current price.
• NetApp reported strong fiscal Q4 revenue growth of $1.95 billion, up 12.5% year over year and above estimates, even as EPS missed expectations.
• Management boosted FY 2027 guidance and announced shareholder returns, including a new $1 billion share repurchase program and a quarterly dividend, signaling confidence in future execution.

NetApp (NASDAQ:NTAP - Get Free Report) had its target price increased by equities research analysts at Wedbush from $115.00 to $150.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the data storage provider's stock. Wedbush's target price indicates a potential downside of 21.70% from the stock's current price.

Several other equities analysts have also issued reports on NTAP. Citigroup lowered NetApp from a "neutral" rating to a "mixed" rating in a research report on Thursday, May 14th. Weiss Ratings downgraded shares of NetApp from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, March 13th. Northland Securities lifted their price target on shares of NetApp from $137.00 to $171.00 and gave the company an "outperform" rating in a research note on Friday. Morgan Stanley upped their price target on shares of NetApp from $88.00 to $137.00 and gave the company an "underweight" rating in a report on Friday. Finally, Susquehanna raised their price objective on shares of NetApp from $110.00 to $185.00 and gave the stock a "neutral" rating in a report on Friday. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $140.33.

NetApp Trading Up 34.5%

Shares of NTAP traded up $49.18 during trading hours on Friday, reaching $191.58. The stock had a trading volume of 2,794,513 shares, compared to its average volume of 2,500,818. The company has a market cap of $37.80 billion, a P/E ratio of 32.05, a P/E/G 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 $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 firm has a 50-day moving average of $110.99 and a 200 day moving average of $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 for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter in the prior year, the firm posted $1.93 earnings per share. The business'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, sell-side analysts expect that NetApp will post 6.48 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction that occurred on Monday, May 18th. The stock was 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 directly owned 1,090 shares of the company's stock, valued at approximately $130,800. This trade represents a 20.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O'callahan sold 1,000 shares of the company's stock in a transaction on 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 transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,275 shares of company stock worth $347,650. 0.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NetApp

Hedge funds have recently bought and sold shares of the business. Rossby Financial LCC boosted its holdings in 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 purchasing an additional 115 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of NetApp during the third quarter worth approximately $27,000. Park Square Financial Group LLC raised its position in shares of NetApp by 68.7% in the fourth 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 in the last quarter. Gen Wealth Partners Inc bought a new stake in shares of NetApp in the fourth quarter valued at approximately $30,000. Finally, DV Equities LLC bought a new stake in shares of NetApp in the fourth quarter valued at approximately $30,000. 92.17% of the stock is owned by 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.

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.