NetApp - NTAP Stock Forecast, Price & News

21 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for NetApp in the last twelve months. There are currently 2 sell ratings, 10 hold ratings and 9 buy ratings for the stock. The consensus among Wall Street equities research 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.
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21 Wall Street research analysts have issued 12 month target prices for NetApp's stock. Their NTAP share price forecasts range from $58.00 to $110.00. On average, they expect the company's share price to reach $77.95 in the next year. This suggests a possible upside of 15.3% from the stock's current price.
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NetApp's stock was trading at $60.06 at the beginning of 2023. Since then, NTAP stock has increased by 12.6% and is now trading at $67.62.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, February 22nd 2023.
View our NTAP earnings forecast.

NetApp, Inc. (NASDAQ:NTAP) released its quarterly earnings results on Tuesday, November, 29th. The data storage provider reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.12. The data storage provider had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.67 billion. NetApp had a net margin of 22.52% and a trailing twelve-month return on equity of 115.30%.
Read the conference call transcript.

NetApp announced a quarterly dividend on Tuesday, November 29th. Stockholders of record on Friday, January 6th will be given a dividend of $0.50 per share on Wednesday, January 25th. This represents a $2.00 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, January 5th.
Read our dividend analysis for NTAP.

NetApp (NASDAQ:NTAP) pays an annual dividend of $2.00 per share and currently has a dividend yield of 2.90%. The dividend payout ratio is 30.26%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, NTAP will have a dividend payout ratio of 41.93% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for NTAP.

NetApp updated its third quarter 2023 earnings guidance on Thursday, December, 29th. The company provided earnings per share (EPS) guidance of $1.25-$1.35 for the period, compared to the consensus earnings per share estimate of $1.44. The company issued revenue guidance of $1.52 billion-$1.68 billion, compared to the consensus revenue estimate of $1.71 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 many different retail and institutional investors. Top institutional shareholders include Sumitomo Mitsui Trust Holdings Inc. (0.33%), Ardevora Asset Management LLP (0.32%), AustralianSuper Pty Ltd (0.29%), Seizert Capital Partners LLC (0.29%), Boston Trust Walden Corp (0.21%) and Todd Asset Management LLC (0.13%). 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 $67.62.

NetApp (NASDAQ:NTAP) has a market capitalization of $14.58 billion and generates $6.55 billion in revenue each year. The data storage provider earns $937 million in net income (profit) each year or $6.61 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.