NASDAQ:NTAP

NetApp - NTAP Stock Forecast, Price & News

$61.85

-1.09 (-1.73%)

(As of 09/30/2022 12:00 AM ET)

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Today's Range: $61.75
▼
$63.57
50-Day Range: $61.85
▼
$78.56
52-Week Range: $61.26
▼
$96.82

Volume: 1.99 million shs
Average Volume: 1.37 million shs
Market Capitalization: $13.44 billion

P/E Ratio: 14.80
Dividend Yield: 3.18%
Price Target: $89.22

NetApp MarketRank™ Forecast

Analyst Rating: Hold
2.44 Rating Score
Upside/Downside: 44.3% Upside
$89.22 Price Target
Short Interest: Healthy
2.10% of Float Sold Short
Dividend Strength: Moderate
Based on Four Factors
Sustainability: -0.63
Upright™ Environmental Score
News Sentiment: 0.27
Based on 8 Articles This Week
Insider Trading: Selling Shares
$1.55 M Sold Last Quarter
Proj. Earnings Growth: 13.48%
From $4.45 to $5.05 Per Share

Overall MarketRank^™

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

3.02 out of 5 stars

Computer And Technology Sector

61st out of 652 stocks

Computer Storage Devices Industry

3rd out of 5 stocks

4.2

Analyst's Opinion

Consensus Rating
NetApp has received a consensus rating of Hold. The company's average rating score is 2.44, and is based on 9 buy ratings, 8 hold ratings, and 1 sell rating.
Price Target Upside/Downside
According to analysts' consensus price target of $89.22, NetApp has a forecasted upside of 44.3% from its current price of $61.85.
Amount of Analyst Coverage
NetApp has been the subject of 8 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

3.0

Short Interest

Percentage of Shares Shorted
2.10% of the float of NetApp has been sold short.
Short Interest Ratio / Days to Cover
NetApp has a short interest ratio ("days to cover") of 3.3, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in NetApp has recently increased by 0.44%, indicating that investor sentiment is decreasing.

2.5

Dividend Strength

Dividend Yield
NetApp pays a meaningful dividend of 3.18%, higher than the bottom 25% of all stocks that pay dividends.
Dividend Growth
NetApp does not have a long track record of dividend growth.
Dividend Coverage
The dividend payout ratio of NetApp is 47.85%. This payout ratio is at a healthy, sustainable level, below 75%.
Dividend Sustainability
Based on earnings estimates, NetApp will have a dividend payout ratio of 39.60% next year. This indicates that NetApp will be able to sustain or increase its dividend.

2.7

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
NetApp has received a 18.79% net impact score from Upright. NetApp seems to create the most significant positive value in categories "Taxes", "Jobs", and "Knowledge infrastructure". The positive contribution in the "Knowledge infrastructure" impact category is mostly driven by its "Physical servers", "Hosted database services", and "Hosted data storage services" products. See details.
Environmental Sustainability
The Environmental Impact score for NetApp is -0.63.

1.8

News and Social Media Coverage

News Sentiment
NetApp has a news sentiment score of 0.27. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.54 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 8 news articles for NetApp this week, compared to 7 articles on an average week.
Search Interest
Only 6 people have searched for NTAP on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days.
MarketBeat Follows
Only 6 people have added NetApp to their MarketBeat watchlist in the last 30 days. This is a decrease of 0% compared to the previous 30 days.

2.5

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, NetApp insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,552,942.00 in company stock.
Percentage Held by Insiders
Only 0.26% of the stock of NetApp is held by insiders.
Percentage Held by Institutions
88.45% of the stock of NetApp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

2.5

Earnings and Valuation

Earnings Growth
Earnings for NetApp are expected to grow by 13.48% in the coming year, from $4.45 to $5.05 per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of NetApp is 14.80, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 116.91.
Price to Earnings Ratio vs. Sector
The P/E ratio of NetApp is 14.80, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 350.44.
Price to Earnings Growth Ratio
NetApp has a PEG Ratio of 1.61. PEG Ratios above 1 indicate that a company could be overvalued.
Price to Book Value per Share Ratio
NetApp has a P/B Ratio of 20.48. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

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.

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NTAP Stock News Headlines

October 2, 2022 | americanbankingnews.com

StockNews.com Upgrades NetApp (NASDAQ:NTAP) to Buy

October 1, 2022 | nasdaq.com

Is It Time To Consider Buying NetApp, Inc. (NASDAQ:NTAP)? - Nasdaq

September 30, 2022 | finance.yahoo.com

The global data center storage market is expected to grow at a CAGR of 4.72% during 2022-2027 - Yahoo Finance

September 29, 2022 | nasdaq.com

4 Dividend-Paying Stocks to Watch in the Technology Sector - Nasdaq

September 25, 2022 | americanbankingnews.com

StockNews.com Lowers NetApp (NASDAQ:NTAP) to Hold

September 23, 2022 | finance.yahoo.com

NetApp (NTAP) Down 18.2% Since Last Earnings Report: Can It Rebound?

September 22, 2022 | nasdaq.com

Relative Strength Alert For NetApp - Nasdaq

September 22, 2022 | americanbankingnews.com

NetApp, Inc. (NASDAQ:NTAP) President Sells $1,256,760.00 in Stock

September 20, 2022 | benzinga.com

Snap, NetApp And 2 Other Stocks Insiders Are Selling

September 19, 2022 | benzinga.com

What To Know About Susquehanna's Downgrade of NetApp - NetApp (NASDAQ:NTAP) - Benzinga

September 19, 2022 | benzinga.com

Where NetApp Stands With Analysts - NetApp (NASDAQ:NTAP) - Benzinga

September 19, 2022 | benzinga.com

What 9 Analyst Ratings Have To Say About NetApp - NetApp (NASDAQ:NTAP) - Benzinga

September 19, 2022 | benzinga.com

Susquehanna Slashes Price Target On NetApp, Plus Compass Point Boosts PT On This Stock By 75% - Amyris (NASDAQ:AMRS), AdaptHealth (NASDAQ:AHCO) - Benzinga

September 19, 2022 | seekingalpha.com

NetApp, Super Micro slip as Susquehanna downgrades on concerns of weak cloud, IT spending - Seeking Alpha

September 16, 2022 | fortune.com

NetApp CEO: Companies investing in technology do well in an economic downturn

September 14, 2022 | finance.yahoo.com

NetApp (NASDAQ:NTAP) Has Announced A Dividend Of $0.50

September 14, 2022 | nasdaq.com

NetApp To Present At Goldman Sachs Communacopia & Technology Conference; Webcast At 10:30 AM ET - Nasdaq

September 13, 2022 | nasdaq.com

First Week of January 2025 Options Trading For NetApp (NTAP) - Nasdaq

September 8, 2022 | finance.yahoo.com

Global Cloud Backup and Recovery Market 2022 Expected | with a CAGR of: 17 %, Top Companies data report covers, Market-specific challenges, Market Key Facts, Share & Trends Analysis - Yahoo Finance

September 7, 2022 | nasdaq.com

NetApp To Present At Citi 2022 Global Technology Conference; Webcast At 9:00 AM ET - Nasdaq

September 2, 2022 | nasdaq.com

After Strong Outperformance, Can NetApp Stock Maintain Its Streak?

September 1, 2022 | benzinga.com

NetApp (NTAP) – NetApp to Participate in Upcoming Technology Conferences - Benzinga

September 1, 2022 | finance.yahoo.com

NetApp to Participate in Upcoming Technology Conferences

August 31, 2022 | forbes.com

After Strong Outperformance, Can NetApp Stock Maintain Its Streak? - Forbes

August 31, 2022 | streetinsider.com

Menlo Security Names John Wrobel Chief Revenue Officer and Todd Wilson Vice President of Global Channels - StreetInsider.com

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30 days | 90 days | 365 days | Advanced Chart

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NTAP Company Calendar

Ex-Dividend for 7/27 Dividend: 7/07/2022
Dividend Payable: 7/27/2022
Last Earnings: 8/24/2022
Today: 10/02/2022
Ex-Dividend for 10/26 Dividend: 10/06/2022
Dividend Payable: 10/26/2022
Next Earnings (Estimated): 11/29/2022
Fiscal Year End: 4/30/2023

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Computer storage devices
Sub-Industry: Computer Storage & Peripherals
Sector: Computer and Technology
Current Symbol: NASDAQ:NTAP
CUSIP: 64110D10
CIK: 1002047
Web: www.netapp.com
Phone: (408) 822-6000
Fax: 408-822-4501
Employees: 12,000
Year Founded: 1992

Price Target and Rating

Average Stock Price Forecast: $89.22
High Stock Price Forecast: $120.00
Low Stock Price Forecast: $68.00
Forecasted Upside/Downside: +44.3%
Consensus Rating: Hold
Rating Score (0-4): 2.44
Research Coverage: 18 Analysts

Profitability

EPS (Most Recent Fiscal Year): $4.18
Trailing P/E Ratio: 14.80
Forward P/E Ratio: 13.90
P/E Growth: 1.61
Net Income: $937 million
Net Margins: 14.71%
Pretax Margin: 17.48%
Return on Equity: 128.71%
Return on Assets: 10.54%

Debt

Debt-to-Equity Ratio: 3.63
Current Ratio: 1.38
Quick Ratio: 1.31

Sales & Book Value

Annual Sales: $6.32 billion
Price / Sales: 2.13
Cash Flow: $5.33 per share
Price / Cash Flow: 11.61
Book Value: $3.02 per share
Price / Book: 20.48

Miscellaneous

Outstanding Shares: 217,370,000
Free Float: 216,801,000
Market Cap: $13.44 billion
Optionable: Optionable
Beta: 1.19

Social Links

Key Executives

Mr. George Kurian (Age 55)
CEO & Director
Comp: $3.14M

Mr. Cesar Cernuda Rego (Age 50)
Pres
Comp: $1.99M

Mr. Michael J. Berry (Age 59)
Exec. VP & CFO
Comp: $1.45M

Ms. Elizabeth M. O'Callahan (Age 53)
Exec. VP, Chief Legal Officer & Corp. Sec.
Comp: $909.95k

Mr. Matthew K. Fawcett (Age 54)
Exec. VP & Chief Strategy Officer
Comp: $1.09M

Mr. Harvinder S. Bhela (Age 50)
Exec. VP & Chief Product Officer
Comp: $1.48M

Mr. Robert Parks
VP & Chief Accounting Officer

Mr. William H. Miller Jr.
Sr. VP & Chief Information Officer

Ms. Kris Newton
VP of Corp. Communications & Investor Relations

Mr. James D. Whitemore (Age 57)
Exec. VP & Chief Marketing Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

NTAP Stock - Frequently Asked Questions

Should I buy or sell NetApp stock right now?: 18 Wall Street analysts have issued "buy," "hold," and "sell" ratings for NetApp in the last twelve months. There are currently 1 sell rating, 8 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.
What is NetApp's stock price forecast for 2022?: 18 Wall Street analysts have issued 12-month target prices for NetApp's stock. Their NTAP share price forecasts range from $68.00 to $120.00. On average, they expect the company's share price to reach $89.22 in the next year. This suggests a possible upside of 44.3% from the stock's current price.
View analysts price targets for NTAP or view top-rated stocks among Wall Street analysts.
How have NTAP shares performed in 2022?: NetApp's stock was trading at $91.99 at the beginning of the year. Since then, NTAP stock has decreased by 32.8% and is now trading at $61.85.
View the best growth stocks for 2022 here.
When is NetApp's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 29th 2022.
View our NTAP earnings forecast.
How were NetApp's earnings last quarter?: NetApp, Inc. (NASDAQ:NTAP) released its quarterly earnings data on Wednesday, August, 24th. The data storage provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.11. The data storage provider earned $1.59 billion during the quarter, compared to analysts' expectations of $1.55 billion. NetApp had a trailing twelve-month return on equity of 128.71% and a net margin of 14.71%. The business's revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS.
Read the conference call transcript.
How often does NetApp pay dividends? What is the dividend yield for NetApp?: NetApp declared a quarterly dividend on Wednesday, August 24th. Investors of record on Friday, October 7th will be paid a dividend of $0.50 per share on Wednesday, October 26th. This represents a $2.00 annualized dividend and a dividend yield of 3.23%. The ex-dividend date is Thursday, October 6th.
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 3.18%. The dividend payout ratio is 47.85%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, NTAP will have a dividend payout ratio of 39.60% 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 issued an update on its FY 2023 earnings guidance on Tuesday, September, 20th. The company provided earnings per share guidance of $5.40-$5.60 for the period, compared to the consensus estimate of $5.42. The company issued revenue guidance of $6.70 billion-$6.82 billion, compared to the consensus revenue estimate of $6.73 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."
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 $61.85.
How much money does NetApp make?: NetApp (NASDAQ:NTAP) has a market capitalization of $13.44 billion and generates $6.32 billion in revenue each year. The data storage provider earns $937 million in net income (profit) each year or $4.18 on an earnings per share basis.
How many employees does NetApp have?: The company 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
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 10/2/2022 by MarketBeat.com Staff

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NetApp - NTAP Stock Forecast, Price & News

NetApp MarketRank™ Forecast

Overall MarketRank™

Analyst's Opinion

Short Interest

Percentage of Shares Shorted

Short Interest Ratio / Days to Cover

Change versus previous month

Dividend Strength

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score

Environmental Sustainability

News and Social Media Coverage

News Sentiment

News Coverage This Week

Search Interest

MarketBeat Follows

Company Ownership

Earnings and Valuation

About NetApp (NASDAQ:NTAP) Stock

NTAP Stock News Headlines

NTAP Company Calendar

Industry, Sector and Symbol

Price Target and Rating

Profitability

Debt

Sales & Book Value

Miscellaneous

Social Links

Key Executives

Key Competitors

Insiders & Institutions

NTAP Stock - Frequently Asked Questions

MarketBeat Resources

Premium Research Tools

Market Data and Calendars

Investing Education and Resources

Overall MarketRank^™