NetApp (NASDAQ:NTAP) Raised to “Buy” at Wall Street Zen
by Teresa Graham · The Cerbat GemNetApp (NASDAQ:NTAP – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.
Other analysts also recently issued research reports about the company. Weiss Ratings downgraded NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. The Goldman Sachs Group began coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target on the stock. Citigroup upped their price target on NetApp from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of NetApp in a research note on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, NetApp currently has an average rating of “Hold” and a consensus price target of $122.42.
Read Our Latest Stock Report on NetApp
NetApp Stock Down 0.0%
NASDAQ:NTAP opened at $95.90 on Friday. The firm’s 50-day moving average price is $100.86 and its 200-day moving average price is $107.80. The company has a market capitalization of $18.92 billion, a PE ratio of 16.04, a P/E/G ratio of 2.97 and a beta of 1.30. The company has a debt-to-equity ratio of 2.15, a current ratio of 1.39 and a quick ratio of 1.36. NetApp has a 1-year low of $80.22 and a 1-year high of $126.66.
NetApp (NASDAQ:NTAP – Get Free Report) last released its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.91 EPS. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. On average, equities analysts predict that NetApp will post 5.89 EPS for the current fiscal year.
Insider Buying and Selling
In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $100.67, for a total transaction of $100,670.00. Following the sale, the executive vice president directly owned 20,382 shares in the company, valued at approximately $2,051,855.94. This trade represents a 4.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.28% of the company’s stock.
Institutional Trading of NetApp
Several institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in NetApp by 30.6% during the 4th quarter. Hsbc Holdings PLC now owns 845,036 shares of the data storage provider’s stock valued at $90,556,000 after purchasing an additional 197,922 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in NetApp by 87.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 40,967 shares of the data storage provider’s stock valued at $4,387,000 after purchasing an additional 19,113 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of NetApp by 4.3% during the 4th quarter. Corient Private Wealth LLC now owns 50,360 shares of the data storage provider’s stock valued at $5,393,000 after acquiring an additional 2,069 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of NetApp by 1,371.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,692 shares of the data storage provider’s stock valued at $288,000 after acquiring an additional 2,509 shares during the last quarter. Finally, Tobam boosted its holdings in shares of NetApp by 854.7% during the 4th quarter. Tobam now owns 8,926 shares of the data storage provider’s stock valued at $956,000 after acquiring an additional 7,991 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.
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.