Bank of America Issues Positive Forecast for NetApp (NASDAQ:NTAP) Stock Price

NetApp (NASDAQ:NTAP) had its price target raised by stock analysts at Bank of America from $125.00 to $150.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the data storage provider’s stock. Bank of America‘s price target points to a potential downside of 16.84% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Northland Securities increased their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday. Susquehanna raised their price target on shares of NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. lowered shares of NetApp from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. Citigroup increased their price objective on shares of NetApp from $114.00 to $150.00 and gave the company a “neutral” rating in a report on Friday. Finally, UBS Group reiterated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a report on Friday. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, NetApp has an average rating of “Hold” and an average target price of $154.17.

NetApp Stock Up 26.7%

Shares of NetApp stock traded up $37.97 during trading on Friday, reaching $180.37. The company had a trading volume of 8,472,110 shares, compared to its average volume of 2,560,772. The company has a market cap of $35.59 billion, a price-to-earnings ratio of 30.05, a price-to-earnings-growth ratio of 2.60 and a beta of 1.28. The firm’s fifty day moving average is $110.99 and its 200-day moving average is $107.48. The company has a debt-to-equity ratio of 2.15, a quick ratio of 1.36 and a current ratio of 1.39. NetApp has a fifty-two week low of $93.69 and a fifty-two week high of $192.83.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 EPS. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. On average, analysts anticipate that NetApp will post 6.48 EPS for the current year.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction of $117,730.00. Following the transaction, the executive vice president owned 18,382 shares in the company, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the transaction, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. This represents a 20.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 3,275 shares of company stock valued at $347,650 over the last 90 days. 0.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Abich Financial Wealth Management LLC bought a new position in NetApp in the 3rd quarter worth $27,000. Rossby Financial LCC raised its holdings in NetApp by 105.5% in the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after acquiring an additional 115 shares during the period. Park Square Financial Group LLC raised its holdings in NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after acquiring an additional 103 shares during the period. Gen Wealth Partners Inc bought a new position in NetApp in the 4th quarter worth $30,000. Finally, DV Equities LLC bought a new position in NetApp in the 4th quarter worth $30,000. Institutional investors own 92.17% of the company’s stock.

NetApp News Summary

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp beat Q4 revenue expectations and posted revenue of $1.95 billion, up about 12.5% year over year, signaling healthy demand for its storage and hybrid cloud offerings. NetApp Q4 Earnings & Revenues Surpass Estimates, Stock Up
• Positive Sentiment: The company’s FY2027 outlook came in ahead of Wall Street estimates, with guidance for both EPS and revenue above consensus, reinforcing confidence that AI and hybrid cloud adoption are accelerating growth. Analyst Reiterates Buy on NetApp as Strong Q Results and FY27 Outlook Signal Sustainable Growth and Margin Expansion
• Positive Sentiment: NetApp also announced a new $1 billion share repurchase authorization, which can support shareholder returns and help offset dilution. NetApp Announces New $1 Billion Share Repurchase Program
• Neutral Sentiment: Several Wall Street firms raised price targets after the report, but ratings were mixed, with some firms keeping neutral/hold stances despite the stronger results.
• Neutral Sentiment: NetApp declared a quarterly dividend of $0.52 per share, adding to its income appeal for investors, though this is not the main catalyst for the stock move.
• Negative Sentiment: Despite the upbeat report, NetApp still missed consensus on Q4 EPS, which may limit how far the stock can run if margins remain under pressure. NetApp (NTAP) Stock Falls on Q4 2026 Earnings

About NetApp

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.