NetApp (NTAP) Stock Price, News & Analysis

Company Overview

NetApp, Inc. provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID. In addition, it provides cloud storage and data services comprising NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, NetApp Cloud Volumes Service for Google Cloud, and cloud operations services, such as NetApp Cloud Insights, Spot by NetApp, and Instaclustr. Further, the company offers application-aware data management service under the NetApp Astra name; and professional and support services, such as strategic consulting, professional, managed, and support services. Additionally, it provides assessment, design, implementation, and migration services. The company serves the energy, financial service, government, technology, internet, life science, healthcare service, manufacturing, media, entertainment, animation, video postproduction, and markets through a direct sales force and an ecosystem of partners. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.

Key Stats

• Today's Range: $123.00 to $124.29
• 50-Day Range: $114.18 to $127.27
• 52-Week Range: $75.32 to $135.01
• Volume: 182,925 shs
• Average Volume: 1.81 million shs
• Market Capitalization: $25.39 billion
• P/E Ratio: 24.22
• Dividend Yield: 1.68%
• Price Target: $129.06
• Consensus Rating: Hold

NetApp Stock Analysis - MarketRank™

NetApp scored higher than 88% of companies evaluated by MarketBeat, and ranked 119th out of 662 stocks in the computer and technology sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.1 / 5
• Analyst Rating: Hold

Consensus Rating

NetApp has received a consensus rating of Hold. The company's average rating score is 2.25, and is based on 5 buy ratings, 10 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

NetApp has been the subject of 10 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

Earnings and Valuation

• Score: 2.5 / 5
• Proj. Earnings Growth: 8.58%

Earnings Growth

Earnings for NetApp are expected to grow by 8.58% in the coming year, from $5.71 to $6.20 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of NetApp is 24.23, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 134.79.

Price to Earnings Ratio vs. Sector

The P/E ratio of NetApp is 24.23, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 254.87.

Price to Earnings Growth Ratio

NetApp has a PEG Ratio of 4.33. PEG Ratios above 1 indicate that a company could be overvalued.

Price to Book Value per Share Ratio

NetApp has a P/B Ratio of 22.27. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

3.65% of the float of NetApp has been sold short.

Short Interest Ratio / Days to Cover

NetApp has a short interest ratio ("days to cover") of 4.8.

Change versus previous month

Short interest in NetApp has recently increased by 8.31%, indicating that investor sentiment is decreasing significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Yield

NetApp pays a meaningful dividend of 1.80%, higher than the bottom 25% of all stocks that pay dividends.

Dividend Growth

NetApp does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of NetApp is 40.63%. This payout ratio is at a healthy, sustainable level, below 75%.

Dividend Sustainability

Based on earnings estimates, NetApp will have a dividend payout ratio of 33.55% next year. This indicates that NetApp will be able to sustain or increase its dividend.

Sustainability and ESG

• Score: 2.7 / 5
• Environmental Score: -0.63

Percentage of Shares Shorted

3.65% of the float of NetApp has been sold short.

Short Interest Ratio / Days to Cover

NetApp has a short interest ratio ("days to cover") of 4.8.

Change versus previous month

Short interest in NetApp has recently increased by 8.31%, indicating that investor sentiment is decreasing significantly.

News and Social Media

• Score: 2.8 / 5
• News Sentiment: 1.08

News Sentiment

NetApp has a news sentiment score of 1.08. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.43 average news sentiment score of Computer and Technology companies.

News Coverage This Week

MarketBeat has tracked 9 news articles for NetApp this week, compared to 11 articles on an average week.

Search Interest

Only 5 people have searched for NTAP on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

MarketBeat Follows

15 people have added NetApp to their MarketBeat watchlist in the last 30 days. This is an increase of 150% compared to the previous 30 days.

Company Ownership

• Score: 2.5 / 5
• Insider Trading: Selling Shares

Insider Buying vs. Insider Selling

In the past three months, NetApp insiders have sold more of their company's stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,369,172.00 in company stock.

Percentage Held by Insiders

Only 0.47% of the stock of NetApp is held by insiders.

Percentage Held by Institutions

92.17% of the stock of NetApp is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

NTAP Stock Analysis - Frequently Asked Questions

How have NTAP shares performed this year?

NetApp's stock was trading at $88.16 at the start of the year. Since then, NTAP stock has increased by 40.7% and is now trading at $124.04.
View the best growth stocks for 2024 here.

How were NetApp's earnings last quarter?

NetApp, Inc. (NASDAQ:NTAP) released its quarterly earnings data on Wednesday, August, 28th. The data storage provider reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.45 by $0.11. NetApp's revenue for the quarter was up 7.6% on a year-over-year basis.
Read the conference call transcript.

Is NetApp buying back stock?

NetApp's Board of Directors approved a stock buyback program on Thursday, May 30th 2024, which permits the company to buy back $1,000,000,000 in shares, according to EventVestor. This means that the company could repurchase up to 4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Does NetApp have any subsidiaries?

NetApp subsidiaries include Fylamynt, CloudCheckr, Data Mechanics Inc., Spot, CloudJumper, Talon Storage, Cognigo, and others.

Who are NetApp's major shareholders?

Top institutional investors of NetApp include Los Angeles Capital Management LLC (0.86%), Robeco Institutional Asset Management B.V. (0.60%), Swiss National Bank (0.30%) and Victory Capital Management Inc. (0.30%). Insiders that own company stock include George Kurian, Cesar Cernuda, Gerald Held, Elizabeth M O'callahan, Thomas Michael Nevens, Lorenzo Daniel De, Robert Parks, Matthew K Fawcett and Carrie Palin.
View institutional ownership trends.

How do I buy shares of NetApp?

Shares of NTAP stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of NetApp own?

Based on aggregate information from My MarketBeat watchlists, some other companies that NetApp investors own include NVIDIA (NVDA), Meta Platforms (META), Advanced Micro Devices (AMD), Tesla (TSLA), Netflix (NFLX), JPMorgan Chase & Co. (JPM) and Verizon Communications (VZ).

Company Calendar

• Last Earnings: 8/28/2024
• Ex-Dividend for 10/23 Dividend: 10/04/2024
• Dividend Payable: 10/23/2024
• Today: 11/08/2024
• Next Earnings (Confirmed): 11/21/2024
• Fiscal Year End: 4/30/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Computer and Technology
• Industry: Computer storage devices
• Sub-Industry: Computer Storage & Peripherals
• Current Symbol: NASDAQ:NTAP
• CUSIP: 64110D10
• CIK: 1002047
• Web: www.netapp.com
• Phone: (408) 822-6000
• Fax: 408-822-4501
• Employees: 11,800
• Year Founded: 1992

Price Target and Rating

• Average Stock Price Target: $129.06
• High Stock Price Target: $155.00
• Low Stock Price Target: $83.00
• Potential Upside/Downside: +5.1%
• Consensus Rating: Hold
• Rating Score (0-4): 2.25
• Research Coverage: 16 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $5.12
• Trailing P/E Ratio: 23.99
• Forward P/E Ratio: 21.51
• P/E Growth: 4.33
• Net Income: $986 million
• Net Margins: 17.01%
• Pretax Margin: 21.58%
• Return on Equity: 121.41%
• Return on Assets: 12.38%

Debt

• Debt-to-Equity Ratio: 1.34
• Current Ratio: 0.96
• Quick Ratio: 0.91

Sales & Book Value

• Annual Sales: $6.27 billion
• Price / Sales: 4.01
• Cash Flow: $6.88 per share
• Price / Cash Flow: 17.86
• Book Value: $5.57 per share
• Price / Book: 22.05

Miscellaneous

• Outstanding Shares: 204,780,000
• Free Float: 203,821,000
• Market Cap: $25.15 billion
• Optionable: Optionable
• Beta: 1.24