NetApp (NASDAQ:NTAP) Rating Lowered to “Hold” at Wall Street Zen
by Scott Moore · The Cerbat GemNetApp (NASDAQ:NTAP – Get Free Report) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.
Several other equities analysts also recently commented on NTAP. JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $110.00 in a research note on Thursday, April 16th. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Citigroup increased their target price on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, March 2nd. The Goldman Sachs Group started coverage on NetApp in a research report on Tuesday, January 13th. They set a “buy” rating and a $128.00 target price on the stock. Finally, Wedbush restated a “neutral” rating and set a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $120.75.
View Our Latest Stock Report on NTAP
NetApp Price Performance
NetApp stock opened at $106.79 on Friday. NetApp has a 12 month low of $80.64 and a 12 month high of $126.66. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. The business’s 50 day simple moving average is $101.11 and its 200 day simple moving average is $107.07. The company has a market cap of $21.07 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 3.24 and a beta of 1.30.
NetApp (NASDAQ:NTAP – Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the prior year, the business earned $1.91 earnings per share. NetApp’s revenue for the quarter was up 4.4% on a year-over-year basis. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Sell-side analysts forecast that NetApp will post 6.48 EPS for the current year.
Insider Activity
In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $96.25, for a total transaction of $96,250.00. Following the sale, the executive vice president owned 19,382 shares in the company, valued at $1,865,517.50. This represents a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 3,000 shares of company stock worth $300,370 in the last quarter. Corporate insiders own 0.28% of the company’s stock.
Institutional Investors Weigh In On NetApp
Institutional investors and hedge funds have recently made changes to their positions in the business. Rossby Financial LCC raised its position in shares of NetApp by 105.5% in the third quarter. Rossby Financial LCC now owns 224 shares of the data storage provider’s stock worth $27,000 after buying an additional 115 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in shares of NetApp in the third quarter worth $27,000. Park Square Financial Group LLC raised its position in shares of NetApp by 68.7% in the fourth quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock worth $29,000 after buying an additional 103 shares in the last quarter. Gen Wealth Partners Inc purchased a new stake in shares of NetApp in the fourth quarter worth $30,000. Finally, DV Equities LLC purchased a new stake in shares of NetApp in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.
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.