NetApp, Inc. (NASDAQ:NTAP) Receives Consensus Rating of “Hold” from Brokerages

Shares of NetApp, Inc. (NASDAQ:NTAP) have received a consensus rating of “Hold” from the nineteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Twelve investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $122.40.

A number of equities research analysts have weighed in on the company. Bank of America lifted their target price on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. JPMorgan Chase & Co. lifted their price target on shares of NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Argus reaffirmed a “buy” rating and issued a $130.00 price target on shares of NetApp in a research note on Friday, August 29th. William Blair reaffirmed a “market perform” rating on shares of NetApp in a research report on Thursday, October 16th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $110.00 target price on shares of NetApp in a research report on Friday, October 10th.

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the sale, the chief executive officer directly owned 274,938 shares of the company’s stock, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 21,029 shares of company stock worth $2,444,194. 0.28% of the stock is owned by corporate insiders.

Institutional Trading of NetApp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTAP. Manchester Capital Management LLC grew its holdings in NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider’s stock worth $25,000 after buying an additional 225 shares in the last quarter. 1248 Management LLC bought a new stake in NetApp during the first quarter worth $25,000. Harbour Investments Inc. grew its stake in shares of NetApp by 287.9% in the 2nd quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Harbor Asset Planning Inc. bought a new stake in shares of NetApp in the 2nd quarter worth $28,000. Finally, Olde Wealth Management LLC bought a new stake in shares of NetApp in the 1st quarter worth $29,000. 92.17% of the stock is owned by institutional investors.

NetApp Stock Up 1.9%

NetApp stock opened at $117.78 on Friday. NetApp has a 52-week low of $71.84 and a 52-week high of $135.45. The firm has a 50 day moving average price of $119.06 and a two-hundred day moving average price of $107.19. The firm has a market cap of $23.51 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 2.48 and a beta of 1.45. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31.

NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, August 27th. The data storage provider reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.35). NetApp had a return on equity of 123.24% and a net margin of 17.77%.The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the business earned $1.56 EPS. NetApp’s quarterly revenue was up 1.2% on a year-over-year basis. NetApp has set its FY 2026 guidance at 7.600-7.900 EPS. Q2 2026 guidance at 1.840-1.940 EPS. Equities analysts predict that NetApp will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd were issued a dividend of $0.52 per share. The ex-dividend date was Friday, October 3rd. This represents a $2.08 annualized dividend and a dividend yield of 1.8%. NetApp’s payout ratio is currently 36.75%.

NetApp Company Profile

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, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.