NetApp (NASDAQ:NTAP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of NetApp (NASDAQ:NTAP) from a hold rating to a buy rating in a research report released on Saturday morning.

Other equities analysts also recently issued reports about the stock. Citigroup upped their price objective on shares of NetApp from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, March 2nd. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research note on Wednesday, February 25th. The Goldman Sachs Group began coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. Finally, Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus target price of $122.42.

NetApp Stock Performance

Shares of NASDAQ:NTAP opened at $98.40 on Friday. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 2.97 and a beta of 1.30. The company has a 50-day moving average price of $100.88 and a 200-day moving average price of $107.64. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp has a 12 month low of $80.22 and a 12 month high of $126.66.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.07 by $0.05. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. As a group, equities analysts anticipate that NetApp will post 5.89 EPS for the current year.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, April 2nd. NetApp’s dividend payout ratio is 34.78%.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $100.67, for a total value of $100,670.00. Following the sale, the executive vice president owned 20,382 shares in the company, valued at approximately $2,051,855.94. This represents a 4.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On NetApp

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rossby Financial LCC grew its holdings in NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in NetApp in the third quarter worth about $27,000. Park Square Financial Group LLC grew its holdings in NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after purchasing an additional 103 shares during the period. Gen Wealth Partners Inc purchased a new stake in shares of NetApp during the fourth quarter valued at approximately $30,000. Finally, DV Equities LLC purchased a new stake in shares of NetApp during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.