Fintel reports that on June 1, 2023, Barclays maintained coverage of Netapp (NASDAQ:NTAP) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 8.12% Upside
As of May 11, 2023, the average one-year price target for Netapp is 71.74. The forecasts range from a low of 58.58 to a high of $90.30. The average price target represents an increase of 8.12% from its latest reported closing price of 66.35.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Netapp is 6,658MM, an increase of 3.05%. The projected annual non-GAAP EPS is 5.51.
What is the Fund Sentiment?
There are 1425 funds or institutions reporting positions in Netapp. This is a decrease of 26 owner(s) or 1.79% in the last quarter. Average portfolio weight of all funds dedicated to NTAP is 0.20%, a decrease of 6.19%. Total shares owned by institutions increased in the last three months by 0.01% to 228,238K shares. 
The put/call ratio of NTAP is 1.05, indicating a bearish outlook.
What are Other Shareholders Doing?
Primecap Management holds 15,909K shares representing 7.44% ownership of the company. In it's prior filing, the firm reported owning 16,141K shares, representing a decrease of 1.46%. The firm decreased its portfolio allocation in NTAP by 0.20% over the last quarter.
Capital International Investors holds 12,137K shares representing 5.67% ownership of the company. In it's prior filing, the firm reported owning 12,107K shares, representing an increase of 0.24%. The firm increased its portfolio allocation in NTAP by 2.11% over the last quarter.
VPMCX - Vanguard PRIMECAP Fund Investor Shares holds 8,563K shares representing 4.00% ownership of the company. In it's prior filing, the firm reported owning 8,606K shares, representing a decrease of 0.50%. The firm decreased its portfolio allocation in NTAP by 0.17% over the last quarter.
Ameriprise Financial holds 6,799K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 6,690K shares, representing an increase of 1.61%. The firm decreased its portfolio allocation in NTAP by 80.93% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,670K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 6,612K shares, representing an increase of 0.86%. The firm decreased its portfolio allocation in NTAP by 0.98% over the last quarter.
Netapp Background Information
(This description is provided by the company.)
NetApp, Inc. is an American hybrid cloud data services and data management company. NetApp offers cloud data services for management of applications and data both online and physically. n addition, 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. Further, it provides assessment, design, implementation, and migration services.
Key filings for this company:
This story originally appeared on Fintel.
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