NetApp - NTAP Stock Forecast, Price & News

22 Wall Street analysts have issued "buy," "hold," and "sell" ratings for NetApp in the last year. There are currently 2 sell ratings, 11 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" NTAP shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in NTAP, but not buy additional shares or sell existing shares.
View NTAP analyst ratings or view top-rated stocks.

22 Wall Street analysts have issued 12-month target prices for NetApp's shares. Their NTAP share price forecasts range from $58.00 to $100.00. On average, they expect the company's stock price to reach $76.25 in the next year. This suggests a possible upside of 18.8% from the stock's current price.
View analysts price targets for NTAP or view top-rated stocks among Wall Street analysts.

NetApp's stock was trading at $60.06 at the start of the year. Since then, NTAP shares have increased by 6.9% and is now trading at $64.19.
View the best growth stocks for 2023 here.

NetApp saw a decrease in short interest in February. As of February 28th, there was short interest totaling 5,010,000 shares, a decrease of 16.6% from the February 13th total of 6,010,000 shares. Based on an average trading volume of 1,780,000 shares, the short-interest ratio is presently 2.8 days. Approximately 2.4% of the company's shares are sold short.
View NetApp's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, June 7th 2023.
View our NTAP earnings forecast.

NetApp will be holding an earnings conference call on Wednesday, February 21st at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link.

NetApp, Inc. (NASDAQ:NTAP) released its quarterly earnings data on Wednesday, February, 22nd. The data storage provider reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.31 by $0.06. The data storage provider earned $1.53 billion during the quarter, compared to analysts' expectations of $1.61 billion. NetApp had a trailing twelve-month return on equity of 103.19% and a net margin of 19.93%. The company's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.20 EPS.
Read the conference call transcript.

NetApp declared a quarterly dividend on Wednesday, February 22nd. Stockholders of record on Thursday, April 6th will be given a dividend of $0.50 per share on Wednesday, April 26th. This represents a $2.00 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Wednesday, April 5th.
Read our dividend analysis for NTAP.

ETFs with the largest weight of NetApp (NASDAQ:NTAP) stock in their portfolio include Wedbush ETFMG Global Cloud Technology ETF (IVES), ProShares S&P Technology Dividend Aristocrats ETF (TDV), AAM Bahl & Gaynor Small/Mid Cap Income Growth ETF (SMIG), Fidelity Cloud Computing ETF (FCLD), First Trust Cloud Computing ETF (SKYY), US Equity Dividend Select ETF (RNDV), VictoryShares US Multi-Factor Minimum Volatility ETF (VSMV) and VictoryShares Nasdaq Next 50 ETF (QQQN).

NetApp (NASDAQ:NTAP) pays an annual dividend of $2.00 per share and currently has a dividend yield of 3.25%. The dividend payout ratio is 34.42%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, NTAP will have a dividend payout ratio of 44.35% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for NTAP.

NetApp issued an update on its fourth quarter 2023 earnings guidance on Wednesday, February, 22nd. The company provided EPS guidance of $1.30-$1.40 for the period, compared to the consensus earnings per share estimate of $1.43. The company issued revenue guidance of $1.48 billion-$1.63 billion, compared to the consensus revenue estimate of $1.67 billion.

390 employees have rated NetApp Chief Executive Officer George Kurian on Glassdoor.com. George Kurian has an approval rating of 82% among the company's employees.

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), Cisco Systems (CSCO), Netflix (NFLX), Micron Technology (MU), Salesforce (CRM), Adobe (ADBE) and Tesla (TSLA).

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

NetApp's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Geode Capital Management LLC (2.14%), Boston Partners (1.09%), Morgan Stanley (1.07%), Norges Bank (1.07%), Legal & General Group Plc (0.99%) and Charles Schwab Investment Management Inc. (0.83%). Insiders that own company stock include Carrie Palin, Cesar Cernuda, George Kurian, Matthew K Fawcett, Michael J Berry, Michael J Berry and Thomas Michael Nevens.
View institutional ownership trends.

Shares of NTAP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of NTAP stock can currently be purchased for approximately $64.19.

NetApp (NASDAQ:NTAP) has a market capitalization of $13.73 billion and generates $6.32 billion in revenue each year. The data storage provider earns $937 million in net income (profit) each year or $5.81 on an earnings per share basis.

The company employs 12,000 workers across the globe.

NetApp's mailing address is 1395 CROSSMAN AVENUE, SUNNYVALE CA, 94089. The official website for the company is www.netapp.com. The data storage provider can be reached via phone at (408) 822-6000, via email at investor_relations@netapp.com, or via fax at 408-822-4501.