Wedbush Issues Positive Forecast for NetApp (NASDAQ:NTAP) Stock Price

Posted by Grant Hamersma on May 29th, 2026

NetApp (NASDAQ:NTAP – Get Free Report) had its price target increased by research analysts at Wedbush from $115.00 to $150.00 in a report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the data storage provider’s stock. Wedbush’s price objective suggests a potential downside of 21.70% from the company’s current price.

A number of other equities analysts have also recently commented on the company. Wall Street Zen cut NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. Susquehanna lifted their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday. Morgan Stanley boosted their target price on NetApp from $88.00 to $137.00 and gave the stock an “underweight” rating in a research note on Friday. Northland Securities increased their target price on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, NetApp currently has an average rating of “Hold” and an average target price of $140.33.

View Our Latest Research Report on NetApp

NetApp Price Performance

Shares of NetApp stock traded up $49.18 on Friday, reaching $191.58. 2,794,513 shares of the stock were exchanged, compared to its average volume of 2,500,818. The firm’s 50 day moving average is $110.99 and its 200-day moving average is $107.48. NetApp has a one year low of $93.69 and a one year high of $190.89. 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 firm has a market cap of $37.80 billion, a PE ratio of 32.05, a P/E/G ratio of 2.60 and a beta of 1.28.

NetApp (NASDAQ:NTAP – Get Free Report) last announced 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 18.07% and a return on equity of 118.11%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business earned $1.93 earnings per share. The business’s revenue 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 anticipate that NetApp will post 6.48 EPS for the current fiscal year.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’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 transaction, the executive vice president 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. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction 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 transaction, the chief accounting officer owned 1,090 shares in the company, valued at approximately $130,800. This trade represents a 20.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,275 shares of company stock worth $347,650 over the last three months. Insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Cozad Asset Management Inc. lifted its holdings in NetApp by 7.1% during the 1st quarter. Cozad Asset Management Inc. now owns 2,175 shares of the data storage provider’s stock worth $223,000 after buying an additional 145 shares during the period. Royal Fund Management LLC increased its stake in shares of NetApp by 60.8% in the first quarter. Royal Fund Management LLC now owns 8,198 shares of the data storage provider’s stock valued at $839,000 after buying an additional 3,100 shares during the period. Bank of America Corp DE increased its stake in shares of NetApp by 7.5% in the first quarter. Bank of America Corp DE now owns 1,956,339 shares of the data storage provider’s stock valued at $200,310,000 after buying an additional 136,769 shares during the period. Edgestream Partners L.P. raised its position in shares of NetApp by 203.1% during the first quarter. Edgestream Partners L.P. now owns 44,831 shares of the data storage provider’s stock worth $4,590,000 after acquiring an additional 30,038 shares during the last quarter. Finally, Kentucky Retirement Systems raised its position in shares of NetApp by 124.3% during the first quarter. Kentucky Retirement Systems now owns 28,138 shares of the data storage provider’s stock worth $2,881,000 after acquiring an additional 15,594 shares during the last quarter. 92.17% of the stock is owned by institutional investors.

Key Headlines Impacting NetApp

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

NetApp Company Profile

(Get Free Report)

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.