Northland Securities Analysts Give NetApp (NASDAQ:NTAP) a $137.00 Price Target

Northland Securities set a $137.00 price objective on NetApp (NASDAQ:NTAP) in a research report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has an outperform rating on the data storage provider’s stock.

Several other equities research analysts have also commented on NTAP. Morgan Stanley set a $117.00 price target on shares of NetApp in a report on Thursday, August 28th. William Blair reissued a “market perform” rating on shares of NetApp in a research note on Thursday, October 16th. Wells Fargo & Company upped their price target on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday. UBS Group raised their price target on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $124.07.

NetApp Price Performance

NASDAQ:NTAP opened at $111.61 on Wednesday. The stock has a market capitalization of $22.28 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. NetApp has a 52 week low of $71.84 and a 52 week high of $131.30. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The stock’s 50-day moving average price is $115.50 and its 200-day moving average price is $110.24.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.16. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.NetApp’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.87 earnings per share. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. As a group, equities analysts expect that NetApp will post 5.89 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, January 2nd. NetApp’s dividend payout ratio (DPR) is 36.17%.

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 779 shares of the company’s stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total value of $94,936.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,750 shares of NetApp stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. The trade was a 3.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,183 shares of company stock worth $1,483,361 in the last ninety days. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Strategic Advocates LLC increased its position in NetApp by 4.1% during the third quarter. Strategic Advocates LLC now owns 12,599 shares of the data storage provider’s stock worth $1,492,000 after purchasing an additional 498 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of NetApp by 10.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,675 shares of the data storage provider’s stock valued at $554,000 after buying an additional 455 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of NetApp during the 3rd quarter worth approximately $3,272,000. Achmea Investment Management B.V. raised its position in shares of NetApp by 9.2% during the 3rd quarter. Achmea Investment Management B.V. now owns 114,483 shares of the data storage provider’s stock valued at $13,562,000 after buying an additional 9,621 shares during the period. Finally, Caerus Investment Advisors LLC purchased a new position in NetApp in the third quarter worth approximately $374,000. Institutional investors and hedge funds own 92.17% of the company’s stock.

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.