Fintel reports that on September 3, 2024, Loop Capital upgraded their outlook for NetApp (NasdaqGS:NTAP) from Hold to Buy.
Analyst Price Forecast Suggests 9.79% Upside
As of August 25, 2024, the average one-year price target for NetApp is $130.60/share. The forecasts range from a low of $106.05 to a high of $162.75. The average price target represents an increase of 9.79% from its latest reported closing price of $118.95 / share.
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The projected annual revenue for NetApp is 7,364MM, an increase of 15.48%. The projected annual non-GAAP EPS is 6.80.
What is the Fund Sentiment?
There are 1,718 funds or institutions reporting positions in NetApp. This is an increase of 84 owner(s) or 5.14% in the last quarter. Average portfolio weight of all funds dedicated to NTAP is 0.27%, an increase of 16.00%. Total shares owned by institutions increased in the last three months by 0.17% to 212,912K shares. 
The put/call ratio of NTAP is 0.70, indicating a bullish outlook.
What are Other Shareholders Doing?
Primecap Management holds 13,787K shares representing 6.73% ownership of the company. In its prior filing, the firm reported owning 14,505K shares , representing a decrease of 5.21%. The firm increased its portfolio allocation in NTAP by 13.21% over the last quarter.
VPMCX - Vanguard PRIMECAP Fund Investor Shares holds 8,035K shares representing 3.92% ownership of the company. In its prior filing, the firm reported owning 8,205K shares , representing a decrease of 2.12%. The firm increased its portfolio allocation in NTAP by 15.80% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,536K shares representing 3.19% ownership of the company. In its prior filing, the firm reported owning 6,484K shares , representing an increase of 0.80%. The firm increased its portfolio allocation in NTAP by 20.28% over the last quarter.
Geode Capital Management holds 5,532K shares representing 2.70% ownership of the company. In its prior filing, the firm reported owning 5,024K shares , representing an increase of 9.18%. The firm increased its portfolio allocation in NTAP by 28.21% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,297K shares representing 2.59% ownership of the company. In its prior filing, the firm reported owning 5,192K shares , representing an increase of 1.99%. The firm increased its portfolio allocation in NTAP by 18.51% 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.
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