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NASDAQ:NTAP

NetApp - NTAP Stock Forecast, Price & News

$70.91
-1.74 (-2.40%)
(As of 08/9/2022 10:22 AM ET)
Add
Compare
Today's Range
$70.79
$72.70
50-Day Range
$62.78
$72.90
52-Week Range
$61.26
$96.82
Volume
6,467 shs
Average Volume
1.16 million shs
Market Capitalization
$15.58 billion
P/E Ratio
17.30
Dividend Yield
2.76%
Price Target
$91.55

NetApp MarketRank™ Forecast

Analyst Rating
Moderate Buy
2.55 Rating Score
Upside/​Downside
26.0% Upside
$91.55 Price Target
Short Interest
Healthy
2.50% of Float Sold Short
Dividend Strength
Moderate
Based on Four Factors
Sustainability
-0.63
Upright™ Environmental Score
News Sentiment
0.38mentions of NetApp in the last 14 days
Based on 3 Articles This Week
Insider Trading
Selling Shares
$1.89 M Sold Last Quarter
Proj. Earnings Growth
12.13%
From $4.45 to $4.99 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

3.07 out of 5 stars

Computer And Technology Sector

35th out of 644 stocks

Computer Storage Devices Industry

1st out of 5 stocks

NTAP stock logo

About NetApp (NASDAQ:NTAP) Stock

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, NetApp ElementOS software, and NetApp SANtricity software; and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, and NetApp SolidFire. It also provides cloud storage and data services comprising NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, NetApp Cloud Volumes Service for Google Cloud, NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Cloud Backup, NetApp Cloud Data Sense, and NetApp Cloud Volumes Edge Cache; and cloud operations services, such as NetApp Cloud Insights, Spot Ocean Kubernetes Suite, Spot Security, Spot Eco, and Spot CloudCheckr. In addition, the company offers application-aware data management service under the NetApp Astra name; and professional and support services, such as strategic consulting, professional, managed, and support services. Further, it provides assessment, design, implementation, and migration services. The company serves the energy, financial service, government, technology, internet, life science, healthcare service, manufacturing, media, entertainment, animation, video postproduction, and telecommunication markets through a direct sales force and an ecosystem of partners. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NTAP. Deutsche Bank Aktiengesellschaft raised NetApp from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $90.00 to $84.00 in a report on Tuesday, June 14th. Susquehanna Bancshares dropped their price objective on NetApp from $110.00 to $100.00 and set a "positive" rating for the company in a report on Thursday, June 2nd. Barclays dropped their price objective on NetApp from $102.00 to $88.00 and set an "overweight" rating for the company in a report on Thursday, June 2nd. Cowen dropped their price objective on NetApp to $85.00 in a report on Friday, May 27th. Finally, Morgan Stanley dropped their price objective on NetApp from $91.00 to $88.00 and set an "equal weight" rating for the company in a report on Thursday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, NetApp has an average rating of "Moderate Buy" and an average target price of $91.55.

NetApp Stock Up 0.4 %

NASDAQ:NTAP traded up $0.28 during trading hours on Monday, reaching $72.65. 894,998 shares of the company's stock were exchanged, compared to its average volume of 1,852,976. The company's 50-day moving average is $67.60 and its two-hundred day moving average is $75.96. NetApp has a one year low of $61.26 and a one year high of $96.82. The company has a debt-to-equity ratio of 2.85, a quick ratio of 1.45 and a current ratio of 1.50. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.85 and a beta of 1.22.

NetApp (NASDAQ:NTAP - Get Rating) last released its quarterly earnings results on Wednesday, June 1st. The data storage provider reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.04 by $0.17. NetApp had a return on equity of 127.40% and a net margin of 14.83%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the firm posted $0.96 EPS. The business's revenue was up 8.0% on a year-over-year basis. On average, analysts forecast that NetApp will post 4.45 EPS for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Friday, July 8th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Thursday, July 7th. NetApp's dividend payout ratio (DPR) is currently 48.78%.

Insiders Place Their Bets

In other news, CEO George Kurian sold 2,125 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $69.38, for a total value of $147,432.50. Following the completion of the sale, the chief executive officer now owns 163,575 shares of the company's stock, valued at approximately $11,348,833.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other NetApp news, President Cesar Cernuda sold 18,000 shares of the firm's stock in a transaction on Wednesday, June 15th. The stock was sold at an average price of $64.68, for a total transaction of $1,164,240.00. Following the completion of the sale, the president now owns 61,075 shares of the company's stock, valued at approximately $3,950,331. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George Kurian sold 2,125 shares of the firm's stock in a transaction on Monday, July 25th. The shares were sold at an average price of $69.38, for a total value of $147,432.50. Following the sale, the chief executive officer now directly owns 163,575 shares of the company's stock, valued at approximately $11,348,833.50. The disclosure for this sale can be found here. Insiders sold a total of 28,625 shares of company stock valued at $1,889,651 in the last quarter. 0.26% of the stock is currently owned by insiders.

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NTAP Stock News Headlines

NetApp (NASDAQ:NTAP) PT Lowered to $78.00 at UBS Group
NetApp (NASDAQ:NTAP) Upgraded to "Buy" at StockNews.com
NetApp (NASDAQ:NTAP) Downgraded by StockNews.com
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NTAP Company Calendar

Last Earnings
6/01/2022
Ex-Dividend for 7/27 Dividend
7/07/2022
Dividend Payable
7/27/2022
Today
8/09/2022
Next Earnings (Confirmed)
8/24/2022
Fiscal Year End
4/30/2023

Industry, Sector and Symbol

Industry
Computer storage devices
Sub-Industry
Computer Storage & Peripherals
Current Symbol
NASDAQ:NTAP
CUSIP
64110D10
Employees
12,000
Year Founded
1992

Price Target and Rating

Average Stock Price Forecast
$91.55
High Stock Price Forecast
$120.00
Low Stock Price Forecast
$71.00
Forecasted Upside/Downside
+29.1%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.55
Research Coverage
22 Analysts

Profitability

Net Income
$937 million
Pretax Margin
17.33%

Debt

Sales & Book Value

Annual Sales
$6.32 billion
Cash Flow
$5.31 per share
Book Value
$3.77 per share

Miscellaneous

Free Float
219,164,000
Market Cap
$15.58 billion
Optionable
Optionable
Beta
1.22

Social Links















NTAP Stock - Frequently Asked Questions

Should I buy or sell NetApp stock right now?

22 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for NetApp in the last year. There are currently 1 sell rating, 8 hold ratings and 13 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" NTAP shares.
View NTAP analyst ratings
or view top-rated stocks.

What is NetApp's stock price forecast for 2022?

22 brokerages have issued 12 month price objectives for NetApp's stock. Their NTAP share price forecasts range from $71.00 to $120.00. On average, they anticipate the company's share price to reach $91.55 in the next year. This suggests a possible upside of 26.0% from the stock's current price.
View analysts price targets for NTAP
or view top-rated stocks among Wall Street analysts.

How has NetApp's stock price performed in 2022?

NetApp's stock was trading at $91.99 at the beginning of the year. Since then, NTAP shares have decreased by 21.0% and is now trading at $72.65.
View the best growth stocks for 2022 here
.

When is NetApp's next earnings date?

NetApp is scheduled to release its next quarterly earnings announcement on Wednesday, August 24th 2022.
View our NTAP earnings forecast
.

How can I listen to NetApp's earnings call?

NetApp will be holding an earnings conference call on Wednesday, August 24th at 5:00 PM Eastern. Interested parties can register for or listen to the call using this link.

How were NetApp's earnings last quarter?

NetApp, Inc. (NASDAQ:NTAP) announced its quarterly earnings data on Wednesday, June, 1st. The data storage provider reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.17. The data storage provider earned $1.68 billion during the quarter, compared to analysts' expectations of $1.68 billion. NetApp had a trailing twelve-month return on equity of 127.40% and a net margin of 14.83%. The company's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.96 EPS.
Read the conference call transcript
.

How often does NetApp pay dividends? What is the dividend yield for NetApp?

NetApp announced a quarterly dividend on Wednesday, June 1st. Stockholders of record on Friday, July 8th will be given a dividend of $0.50 per share on Wednesday, July 27th. This represents a $2.00 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, July 7th.
Read our dividend analysis for NTAP
.

Is NetApp a good dividend stock?

NetApp (NASDAQ:NTAP) pays an annual dividend of $2.00 per share and currently has a dividend yield of 2.76%. The dividend payout ratio is 48.78%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, NTAP will have a dividend payout ratio of 40.08% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for NTAP.

What guidance has NetApp issued on next quarter's earnings?

NetApp updated its FY 2023 earnings guidance on Wednesday, June, 29th. The company provided earnings per share guidance of $5.40-$5.60 for the period, compared to the consensus earnings per share estimate of $5.42. The company issued revenue guidance of $6.70 billion-$6.82 billion, compared to the consensus revenue estimate of $6.77 billion.

What is George Kurian's approval rating as NetApp's CEO?

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.

What other stocks do shareholders of NetApp own?

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).

What is NetApp's stock symbol?

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

Who are NetApp's major shareholders?

NetApp's stock is owned by a variety of institutional and retail investors. Top institutional investors include Victory Capital Management Inc. (0.44%), Sumitomo Mitsui Trust Holdings Inc. (0.35%), Ardevora Asset Management LLP (0.34%), Miller Howard Investments Inc. NY (0.33%), Robeco Institutional Asset Management B.V. (0.32%) and AustralianSuper Pty Ltd (0.31%). Insiders that own company stock include Carrie Palin, Cesar Cernuda, George Kurian, Gerald Held, Henri P Richard, Joel D Reich, Matthew K Fawcett, Michael J Berry, Michael J Berry, Scott R Allen and Thomas Michael Nevens.
View institutional ownership trends
.

How do I buy shares of NetApp?

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.
Compare Top Brokerages Here.

What is NetApp's stock price today?

One share of NTAP stock can currently be purchased for approximately $72.65.

How much money does NetApp make?

NetApp (NASDAQ:NTAP) has a market capitalization of $15.96 billion and generates $6.32 billion in revenue each year. The data storage provider earns $937 million in net income (profit) each year or $4.10 on an earnings per share basis.

How many employees does NetApp have?

NetApp employs 12,000 workers across the globe.

Does NetApp have any subsidiaries?

The following companies are subsidiares of NetApp: Akorri Networks, Alacritus Software, BYMS International Inc., Blue Steel Acquisition LLC, Bycast, Cache IQ, Cloud Jumper LLC, CloudCheckr, CloudJumper, Clu Acquisition LLC, Cognigo, Cognigo Research Ltd, Data Mechanics Inc., Decru, Decru B.V., Engenio, Fylamynt, Greenqloud, NA Technology C.V., NetApp (China) Limited, NetApp (Hong Kong) Limited, NetApp (Shanghai) Commercial Co. Ltd., NetApp (Thailand) Limited, NetApp Argentina S.R.L., NetApp Asia Pacific Holdings B.V., NetApp Australia Pty. Ltd., NetApp Austria GmbH, NetApp B.V., NetApp Belgium BVBA, NetApp Brasil Solucoes de Gerenciamento e Armazenamento de Dados Ltda, NetApp Canada Ltd., NetApp Capital Solutions Inc., NetApp Chile Limitada, NetApp Denmark ApS, NetApp Deutschland GmbH, NetApp Finland Oy, NetApp France SAS, NetApp G.K., NetApp Global Holdings Ltd., NetApp Global Limited, NetApp Holding & Manufacturing B.V., NetApp Holdings Limited, NetApp Iceland ehf., NetApp India Marketing and Services Private Limited, NetApp India Private Limited, NetApp Israel R&D Ltd., NetApp Israel Sales Limited, NetApp Italia S.r.l., NetApp Korea Limited, NetApp Luxembourg S.a.r.l., NetApp Malaysia Sdn. Bhd., NetApp Mexico S. de R.L. de C.V., NetApp New Zealand Limited, NetApp Nigeria Limited, NetApp Norway AS, NetApp Poland Sp. spółka z ograniczoną odpowiedzialnością, NetApp R&D LLC, NetApp Russia LLC, NetApp Singapore Pte. Ltd., NetApp South Africa (Pty) Limited, NetApp Spain Sales SL, NetApp Sweden AB, NetApp Switzerland GmbH, NetApp Teknoloji Limited Sirketi, NetApp U.S. Public Sector Inc., NetApp UK Ltd., NetApp VTC Inc., NetApp Vietnam Company Limited, NetCache Inc., Network Appliance (Sales) Limited, Network Appliance Saudi Arabia LLC, Onaro, Onaro Inc., Onaro Israel Ltd., PT. NetApp Indonesia, Plexistor, Plexistor Ltd., Riverbed Technology - SteelStore, Scharfnet Ltd, SolidFire, SolidFire B.V., SolidFire Holdings C.V., SolidFire Holdings LLC, SolidFire International LLC, Sonoma Holdings C.V., Sonoma Holdings LLC, Spinnaker Networks, Spot, Spotinst LLC, Spotinst Ltd., StackPointCloud, StackPointCloud LLC, Talon Storage, Talon Storage Solutions Inc., Topio, WebManage Technologies, and ionGrid.
Read More

When was NetApp founded?

NetApp was founded in 1992.

How can I contact NetApp?

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.

This page (NASDAQ:NTAP) was last updated on 8/9/2022 by MarketBeat.com Staff

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