NetApp (NASDAQ:NTAP) Earns Buy Rating from Analysts at The Goldman Sachs Group

The Goldman Sachs Group assumed coverage on shares of NetApp (NASDAQ:NTAP) in a report released on Tuesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $128.00 price target on the data storage provider’s stock.

Other analysts also recently issued reports about the company. Bank of America increased their price target on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. UBS Group raised their target price on NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Barclays upped their price target on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, Northland Capmk upgraded shares of NetApp from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, NetApp currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.33.

NetApp Stock Up 0.7%

NTAP opened at $108.40 on Tuesday. NetApp has a 1 year low of $71.84 and a 1 year high of $127.78. The firm has a 50 day moving average price of $110.40 and a 200 day moving average price of $112.38. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market cap of $21.47 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.38 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the company posted $1.87 earnings per share. NetApp’s revenue was up 2.8% compared to the same quarter last year. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS. Sell-side analysts expect that NetApp will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

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

Insider Activity

In related news, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $107.48, for a total value of $35,145.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $105.49, for a total value of $105,490.00. Following the sale, the executive vice president owned 21,075 shares in the company, valued at $2,223,201.75. The trade was a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,654 shares of company stock valued at $175,782 in the last three months. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On NetApp

A number of institutional investors have recently made changes to their positions in NTAP. Harbour Investments Inc. lifted its stake in NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of NetApp in the 3rd quarter worth about $27,000. Rossby Financial LCC lifted its position in shares of 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 buying an additional 115 shares during the last quarter. Harbor Asset Planning Inc. acquired a new position in shares of NetApp in the 2nd quarter valued at about $28,000. Finally, CVA Family Office LLC grew its position in shares of NetApp by 300.0% during the 2nd quarter. CVA Family Office LLC now owns 292 shares of the data storage provider’s stock valued at $31,000 after buying an additional 219 shares during the last quarter. 92.17% of the stock is currently owned by institutional investors.

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.