NetApp, Inc. (NASDAQ:NTAP – Get Free Report)’s stock price gapped up before the market opened on Friday after the company announced a dividend. The stock had previously closed at $142.40, but opened at $176.69. NetApp shares last traded at $190.6280, with a volume of 2,074,862 shares trading hands.
The newly announced 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 1.1%. NetApp’s dividend payout ratio is 34.78%.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on NTAP shares. Weiss Ratings lowered shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. Wedbush boosted their price target on shares of NetApp from $115.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday. Bank of America upped their price target on shares of NetApp from $118.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Morgan Stanley raised their price objective on NetApp from $88.00 to $137.00 and gave the company an “underweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. downgraded NetApp from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $140.33.
NetApp Price Performance
The firm has a market capitalization of $37.80 billion, a P/E ratio of 32.05, 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 quick ratio of 1.36 and a current ratio of 1.39. The stock’s 50 day simple moving average is $110.99 and its 200 day simple moving average is $107.48.
NetApp (NASDAQ:NTAP – Get Free Report) last posted its earnings results on Thursday, May 28th. The data storage provider reported $2.03 earnings per share for the quarter, missing the consensus estimate of $2.27 by ($0.24). NetApp had a net margin of 18.07% and a return on equity of 118.11%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The business’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. As a group, analysts expect that NetApp, Inc. will post 6.48 earnings per share for the current fiscal year.
NetApp News Summary
Here are the key news stories impacting NetApp this week:
- Positive Sentiment: NetApp reported fiscal Q4 revenue of $1.95 billion, up 12.5% year over year and above Wall Street estimates, showing continued demand for its data storage products. NetApp (NTAP) Q4 Earnings and Revenues Top Estimates
- Positive Sentiment: Management raised first-quarter and full-year FY 2027 guidance above consensus, signaling confidence in growth and execution going forward. Wamsi Mohan Reiterates Hold on NetApp, Lifts Price Target to $150 Amid Strong Execution but Valuation and Margin Headwinds
- Positive Sentiment: NetApp announced a new $1 billion share repurchase program and a quarterly dividend, both of which can support shareholder returns. NetApp Announces New $1 Billion Share Repurchase Program
- Neutral Sentiment: Analysts remain split: Bank of America raised its target to $150 but kept a Hold rating, while Morgan Stanley lifted its target to $137 but maintained an Underweight view, suggesting valuation concerns remain. Benzinga analyst update on NetApp price target
- Negative Sentiment: NetApp’s Q4 EPS of $2.03 missed expectations, and some coverage notes margin and valuation headwinds, which may limit upside if investors focus on profitability rather than sales growth. NetApp (NTAP) Stock Falls on Q4 2026 Earnings
Insiders Place Their Bets
In related news, CAO Lorenzo Daniel De sold 275 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the sale, the chief accounting officer owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction 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 approximately $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have 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
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in shares of NetApp by 1.1% in the fourth quarter. State Street Corp now owns 10,192,354 shares of the data storage provider’s stock valued at $1,091,499,000 after purchasing an additional 115,451 shares during the last quarter. Wellington Management Group LLP lifted its position in NetApp by 17.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after acquiring an additional 718,409 shares in the last quarter. Norges Bank bought a new position in NetApp during the 4th quarter valued at $458,060,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of NetApp by 17.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock valued at $442,018,000 after acquiring an additional 611,003 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of NetApp by 127.0% in the 1st quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after buying an additional 2,046,912 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
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.
Further Reading
- Five stocks we like better than NetApp
- Palomar’s High-Risk Insurance Strategy Is Paying Off Big
- Marvell’s Pullback May Be the Setup Bulls Were Waiting For
- Flight Path to Profits: American Airlines Bets on SpaceX
- Wall Street Is Starting to Talk About Tesla’s Endgame
Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.
