NetApp, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Krish Sankar from TD Cowen maintained a Buy rating on the stock and has a $130.00 price target.
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Krish Sankar’s rating is based on several positive indicators for NetApp. The company reported better-than-expected product gross margins, which bolsters confidence in its ability to manage potential challenges such as NAND price impacts. Additionally, NetApp delivered a strong performance in the October quarter, surpassing revenue and earnings per share expectations. This performance, coupled with stable guidance for the upcoming quarters, reinforces the company’s solid financial standing.
Furthermore, NetApp’s revenue growth prospects are promising, with an anticipated increase in earnings per share for the fiscal year 2026. The company is well-positioned to benefit from the gradual adoption of Enterprise AI, which, although currently slow, is expected to accelerate and drive future growth. The U.S. Enterprise sector has shown resilience, with revenues increasing year-over-year, and the Public Cloud segment continues to perform robustly. These factors collectively contribute to Krish Sankar’s Buy rating for NetApp.
In another report released today, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $124.00 price target.
Based on the recent corporate insider activity of 69 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NTAP in relation to earlier this year.