NetApp Stock Forecast, Price & News

NetApp's stock was trading at $40.45 on March 11th, 2020 when Coronavirus reached pandemic status according to the World Health Organization. Since then, NTAP stock has increased by 3.7% and is now trading at $41.96.
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22 Wall Street analysts have issued "buy," "hold," and "sell" ratings for NetApp in the last year. There are currently 3 sell ratings, 13 hold ratings and 6 buy ratings for the stock, resulting in a consensus recommendation of "Hold."
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NetApp is scheduled to release its next quarterly earnings announcement on Wednesday, November 11th 2020.
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NetApp Inc. (NASDAQ:NTAP) issued its quarterly earnings results on Wednesday, August, 26th. The data storage provider reported $0.73 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.41 by $0.32. The data storage provider earned $1.30 billion during the quarter, compared to analysts' expectations of $1.15 billion. NetApp had a return on equity of 240.01% and a net margin of 14.47%. NetApp's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS.
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NetApp announced a quarterly dividend on Wednesday, August 26th. Shareholders of record on Friday, October 9th will be given a dividend of $0.48 per share on Wednesday, October 28th. This represents a $1.92 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Thursday, October 8th.
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NetApp issued an update on its second quarter earnings guidance on Wednesday, August, 26th. The company provided earnings per share guidance of $0.66-0.74 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.77. The company issued revenue guidance of $1.225-1.375 billion, compared to the consensus revenue estimate of $1.24 billion.

22 brokerages have issued 1-year price targets for NetApp's stock. Their forecasts range from $38.00 to $75.00. On average, they anticipate NetApp's stock price to reach $52.28 in the next twelve months. This suggests a possible upside of 24.6% from the stock's current price.
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NetApp saw a increase in short interest during the month of August. As of August 14th, there was short interest totaling 16,180,000 shares, an increase of 25.5% from the July 30th total of 12,890,000 shares. Based on an average trading volume of 2,840,000 shares, the short-interest ratio is presently 5.7 days. Approximately 7.3% of the shares of the company are sold short.
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Some companies that are related to NetApp include Western Digital (WDC), Synaptics (SYNA), Immersion (IMMR), Intevac (IVAC) and HGST Technologies Santa Ana (STEC).
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Based on aggregate information from My MarketBeat watchlists, some companies that other NetApp investors own include NVIDIA (NVDA), Intel (INTC), QUALCOMM (QCOM), Alibaba Group (BABA), Netflix (NFLX), Cisco Systems (CSCO), Micron Technology (MU), salesforce.com (CRM), Adobe (ADBE) and Tesla (TSLA).

NetApp trades on the NASDAQ under the ticker symbol "NTAP."

NetApp's stock is owned by many different retail and institutional investors. Top institutional shareholders include Vanguard Group Inc. (11.67%), Bank of New York Mellon Corp (2.51%), First Trust Advisors LP (2.07%), American International Group Inc. (1.81%), Stifel Financial Corp (0.76%) and Bank of America Corp DE (0.52%). Company insiders that own NetApp stock include George Kurian, Gerald Held, Henri P Richard, Joel D Reich, Matthew K Fawcett, Ronald J Pasek, Scott R Allen and Thomas Michael Nevens.
View institutional ownership trends for NetApp.

NTAP stock was sold by a variety of institutional investors in the last quarter, including Vanguard Group Inc., Glenmede Trust Co. NA, American International Group Inc., Canada Pension Plan Investment Board, Hexavest Inc., Jackson Square Capital LLC, New York State Common Retirement Fund, and Stifel Financial Corp. Company insiders that have sold NetApp company stock in the last year include Henri P Richard, Scott R Allen, and Thomas Michael Nevens.
View insider buying and selling activity for NetApp.

NTAP stock was bought by a variety of institutional investors in the last quarter, including First Trust Advisors LP, BNP PARIBAS ASSET MANAGEMENT Holding S.A., MUFG Securities EMEA plc, Miller Howard Investments Inc. NY, Marshall Wace North America L.P., Bank of America Corp DE, Victory Capital Management Inc., and PDT Partners LLC.
View insider buying and selling activity for NetApp.

Shares of NTAP can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.

One share of NTAP stock can currently be purchased for approximately $41.96.

NetApp has a market capitalization of $9.32 billion and generates $5.41 billion in revenue each year. The data storage provider earns $819 million in net income (profit) each year or $3.53 on an earnings per share basis. NetApp employs 10,800 workers across the globe.

The official website for NetApp is www.netapp.com.

NetApp's mailing address is 1395 CROSSMAN AVENUE, SUNNYVALE CA, 94089. The data storage provider can be reached via phone at 408-822-6000 or via email at [email protected]