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

NetApp (NASDAQ:NTAP) had its target price lifted by Bank of America from $125.00 to $150.00 in a report released on Friday morning,Benzinga reports. They currently have a neutral rating on the data storage provider’s stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company boosted their price objective on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. cut NetApp from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. UBS Group reissued a “neutral” rating and set a $160.00 price objective on shares of NetApp in a report on Friday. Finally, Barclays upped their price target on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $157.50.

NetApp Trading Up 22.4%

NTAP stock opened at $174.29 on Friday. The company has a market cap of $34.39 billion, a P/E ratio of 27.40, a PEG ratio of 2.60 and a beta of 1.28. NetApp has a twelve month low of $93.69 and a twelve month high of $192.83. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15. The business has a fifty day moving average of $112.46 and a 200-day moving average of $107.95.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a return on equity of 126.01% and a net margin of 18.43%.The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. As a group, equities research analysts expect that NetApp will post 7.14 EPS for the current year.

NetApp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. NetApp’s dividend payout ratio is 32.70%.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total value of $117,730.00. Following the completion of the sale, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. This represents a 5.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $130,800. This trade represents a 20.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 3,275 shares of company stock valued at $347,650. 0.28% of the stock is currently owned by company insiders.

Institutional Trading of NetApp

Large investors have recently bought and sold shares of the business. Abich Financial Wealth Management LLC bought a new stake in NetApp during the 3rd quarter worth approximately $27,000. Rossby Financial LCC increased its stake in NetApp by 105.5% during the 3rd quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after purchasing an additional 115 shares in the last quarter. Park Square Financial Group LLC increased its stake in NetApp by 68.7% during the 4th 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 in the last quarter. Gen Wealth Partners Inc bought a new stake in NetApp during the 4th quarter worth approximately $30,000. Finally, DV Equities LLC bought a new stake in NetApp during the 4th quarter worth approximately $30,000. 92.17% of the stock is owned by institutional investors.

More NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, topping estimates and rising 12.5% year over year, while non-GAAP EPS came in at $2.43, also above expectations. NetApp Q4 Earnings and Revenues Top Estimates
• Positive Sentiment: Management issued FY2027 guidance above Wall Street estimates, pointing to revenue of about $7.3 billion-$7.6 billion and EPS of $8.70-$9.00, which supports optimism for continued growth and margin expansion. Why NetApp Stock Soared 35% Friday Morning
• Positive Sentiment: Analysts sharply lifted price targets after the report, including JPMorgan, Bank of America, Citigroup, Wedbush, Susquehanna, Northland, and Wells Fargo, signaling that the earnings beat may lead to higher estimates even if several firms kept neutral or hold-type ratings. Analyst price target updates
• Positive Sentiment: NetApp also announced a quarterly dividend and a new $1 billion share repurchase program, adding to shareholder returns and potentially supporting the stock. NetApp Announces New $1 Billion Share Repurchase Program

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.