JPMorgan has revised its price target for NetApp (NTAP, Financial), reducing it from $153 to $113, while maintaining an Overweight rating on the company's shares. This adjustment reflects updated evaluations of the hardware and networking sectors, which take into account the broader effects of current economic uncertainties, particularly those linked to tariffs.
The financial institution has incorporated expectations of a macroeconomic slowdown and its impact on demand across various customer segments into its forecasts. This anticipated downturn is expected to lead to reduced demand from consumers, enterprises, and telecom companies. The adjustment underscores a cautious outlook as economic challenges continue to influence market dynamics.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 15 analysts, the average target price for NetApp Inc (NTAP, Financial) is $119.09 with a high estimate of $150.00 and a low estimate of $90.00. The average target implies an upside of 46.39% from the current price of $81.35. More detailed estimate data can be found on the NetApp Inc (NTAP) Forecast page.
Based on the consensus recommendation from 22 brokerage firms, NetApp Inc's (NTAP, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for NetApp Inc (NTAP, Financial) in one year is $89.99, suggesting a upside of 10.62% from the current price of $81.35. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the NetApp Inc (NTAP) Summary page.
