NetApp Likely To Report Lower Q4 Earnings; Here's A Look At Recent Price Target Changes By The Most Accurate Analysts

NetApp, Inc. NTAP is expected to report its financial results for the fourth quarter after the closing bell on May 31, 2023.

Analysts expect the company to post quarterly earnings at $1.34 per share, down from year-ago earnings of $1.42 per share. The company’s revenue might come in at $1.54 billion.

NetApp shares fell 1.1% to close at $69.10 on Tuesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• B of A Securities analyst Wamsi Mohan downgraded the stock from Neutral to Underperform and cut the price target from $70 to $58 on April 20, 2023. This analyst sees around 16% downside in the company’s stock and has an accuracy rate of 73%.
• Loop Capital analyst Ananda Baruah maintained a Hold rating and cut the price target from $67 to $65 on Feb. 27, 2023. This analyst sees around 6% downside in the company’s stock and has an accuracy rate of 70%.
• UBS analyst David Vogt maintained a Neutral rating and slashed the price target from $78 to $74 on Feb. 23, 2023. This analyst sees around 7% upside in the company’s stock and has an accuracy rate of 73%.
• JP Morgan analyst Samik Chatterjee maintained a Neutral rating and lowered the price target from $75 to $73 on Feb. 23, 2023. This analyst sees around 6% upside in the company’s stock and has an accuracy rate of 74%.
• Barclays analyst Tim Long downgraded the stock from Overweight to Equal-Weight and cut the price target from $83 to $71 on Jan. 10, 2023. This analyst sees around 3% upside in the company’s stock and has an accuracy rate of 70%.

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