Citi Maintains Hold Rating for NetApp with $115 Price Target

Citi analyst Asiya Merchant maintains a Hold rating for NetApp with a price target of $115.00. The company's shares closed at $105.88. NetApp has a Moderate Buy analyst consensus and a price target consensus of $114.15. The company's market cap is $21.19B and P/E ratio is 18.66.

Analysts have been adjusting their target prices and ratings for NetApp, Inc. (NASDAQ:NTAP) in recent months, reflecting a mix of bullish and bearish sentiments. Citi analyst Asiya Merchant maintains a Hold rating for NetApp with a price target of $115.00 [1]. The company's shares closed at $105.88 on July 2, 2025.

NetApp has a Moderate Buy analyst consensus and a price target consensus of $114.15. The company's market capitalization stands at $21.19 billion, with a price-to-earnings (P/E) ratio of 18.66. These metrics highlight the company's valuation and the expectations of financial experts.

Several analysts have recently adjusted their ratings and price targets. Wells Fargo & Company decreased its target price from $115.00 to $100.00, setting an "equal weight" rating for the company [1]. JPMorgan Chase & Co. increased its target from $115.00 to $130.00, giving the company an "overweight" rating [1]. Other analysts, such as Wedbush and Evercore ISI, have also adjusted their ratings and price targets, reflecting varying levels of optimism and caution.

The recent adjustments in analyst ratings and price targets underscore the evolving sentiment towards NetApp. While some analysts remain bullish, others are more cautious, reflecting the company's recent performance and market conditions. Investors should carefully consider these factors when evaluating NetApp's prospects.

References:
[1] https://www.marketbeat.com/instant-alerts/filing-ccm-investment-group-llc-takes-132-million-position-in-netapp-inc-nasdaqntap-2025-08-10/
[2] https://www.benzinga.com/insights/analyst-ratings/25/08/47047099/forecasting-the-future-10-analyst-projections-for-netapp