NetApp (NASDAQ:NTAP) Price Target Raised to $185.00 at Susquehanna

NetApp (NASDAQ:NTAP) had its price objective boosted by Susquehanna from $110.00 to $185.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the data storage provider’s stock.

A number of other research analysts have also issued reports on the company. Wall Street Zen lowered NetApp from a “buy” rating to a “hold” rating in a research report on Sunday, April 19th. Northland Securities boosted their price objective on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America boosted their price objective on NetApp from $118.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. lowered NetApp from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Finally, Barclays boosted their price objective on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus price target of $157.50.

NetApp Trading Up 22.4%

NASDAQ:NTAP opened at $174.29 on Friday. NetApp has a 12-month low of $93.69 and a 12-month high of $192.83. The firm has a market capitalization of $34.39 billion, a P/E ratio of 27.40, a P/E/G ratio of 2.60 and a beta of 1.28. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. The business has a 50 day simple moving average of $112.46 and a 200 day simple moving average of $107.95.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data 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). NetApp had a net margin of 18.43% and a return on equity of 126.01%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 8.700-9.000 EPS and its Q1 2027 guidance at 2.050-2.150 EPS. Equities research analysts predict that NetApp will post 7.14 EPS for the current year.

NetApp Dividend Announcement

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

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction on 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 owned 18,382 shares in the company, valued at $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction on 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 owned 1,090 shares of the company’s stock, valued at approximately $130,800. This trade represents a 20.15% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 3,275 shares of company stock valued at $347,650. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On NetApp

Several hedge funds have recently modified their holdings of NTAP. Abich Financial Wealth Management LLC purchased a new stake in shares of NetApp during the third quarter valued at $27,000. Rossby Financial LCC lifted its holdings in shares of NetApp by 105.5% during the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock valued at $27,000 after purchasing an additional 115 shares during the last quarter. Park Square Financial Group LLC lifted its holdings in shares of NetApp by 68.7% during the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of NetApp during the fourth quarter valued at $30,000. Finally, DV Equities LLC purchased a new stake in shares of NetApp during the fourth quarter valued at $30,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

Key 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.