Weiss Ratings Reaffirms "Hold (C+)" Rating for NetApp (NASDAQ:NTAP)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C+)" rating for NetApp, indicating a stable outlook for the stock among investors.
• Analysts have varied ratings for NetApp, with seven giving it a "Buy" rating while twelve have issued a "Hold" rating, and a price target averaging $122.40.
• NetApp's latest earnings report showed $1.19 EPS for the quarter, missing the expected consensus by $0.35, and the company's revenue increased by 1.2% compared to the previous year.

NetApp (NASDAQ:NTAP - Get Free Report)'s stock had its "hold (c+)" rating reiterated by Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Several other equities research analysts have also recently commented on the company. Barclays increased their price target on NetApp from $117.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. William Blair reaffirmed a "market perform" rating on shares of NetApp in a report on Thursday, October 16th. Argus reaffirmed a "buy" rating and issued a $130.00 price target on shares of NetApp in a report on Friday, August 29th. UBS Group increased their price target on NetApp from $108.00 to $114.00 and gave the company a "neutral" rating in a report on Thursday, August 28th. Finally, JPMorgan Chase & Co. increased their price target on NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat, NetApp currently has an average rating of "Hold" and an average price target of $122.40.

NetApp Price Performance

Shares of NetApp stock opened at $116.64 on Friday. The business has a 50 day simple moving average of $118.34 and a two-hundred day simple moving average of $106.08. NetApp has a 12 month low of $71.84 and a 12 month high of $135.45. The stock has a market capitalization of $23.28 billion, a P/E ratio of 20.61, a PEG ratio of 2.53 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.54 by ($0.35). NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the company earned $1.56 EPS. NetApp's revenue was up 1.2% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. As a group, analysts predict that NetApp will post 5.89 EPS for the current fiscal year.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 779 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO George Kurian sold 8,750 shares of the firm's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares of the company's stock, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,029 shares of company stock worth $2,444,194 over the last ninety days. Company insiders own 0.28% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Manchester Capital Management LLC boosted its position in shares of NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock worth $25,000 after buying an additional 225 shares during the period. 1248 Management LLC purchased a new stake in NetApp during the 1st quarter worth about $25,000. Harbour Investments Inc. increased its holdings in NetApp by 287.9% during the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider's stock worth $27,000 after purchasing an additional 190 shares during the period. Harbor Asset Planning Inc. purchased a new stake in NetApp during the 2nd quarter worth about $28,000. Finally, Olde Wealth Management LLC purchased a new stake in NetApp during the 1st quarter worth about $29,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

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.

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