Barclays Rates NetApp (NTAP) Equal-Weight, $219 Price Target

On October 14, 2026, Barclays lowered its rating on NetApp, Inc. (NasdaqGS: NTAP) to Equal-Weight, keeping its price target at $219. This target is unchanged from before, reflecting the firm's cautious outlook on the stock amid its recent performance.

Barclays' downgrade comes as the stock trades at $209.44, placing it about 4.4% below the firm’s price target. The rating change suggests a more neutral stance on the stock’s potential, which could affect investor sentiment.

Other Institutional Activity in NetApp

Several institutional investors have adjusted their positions in NetApp recently. Blackrock Inc. reduced its holdings by 1,007,380 shares, ending with 18,901,321 shares worth about $3.85 billion. Vanguard Capital Management LLC added 397,131 shares, bringing its total to 12,885,538 shares valued at approximately $2.63 billion. Meanwhile, Vanguard Portfolio Management LLC cut its stake by 375,787 shares, resulting in 12,276,980 shares worth around $2.50 billion. State Street Corporation decreased its holdings by 102,243 shares, leaving it with 9,921,533 shares valued at about $2.02 billion, while Primecap Management Company trimmed its position by 40,759 shares, totaling 9,016,690 shares worth about $1.84 billion.

NetApp, Inc. Stock Down 2.4%

NetApp's stock is currently trading at $209.44, which is near its recent performance levels, but still below Barclays' price target of $219. With a beta of 1.432, the stock tends to be more volatile than the market, which could impact investor decisions following this downgrade.

Recent Earnings

In its latest financial report, NetApp reported trailing twelve-month revenue of approximately $7.39 billion and earnings per share (EPS) of $7.08. The company achieved a remarkable revenue growth of 29.9% year-over-year and a net margin of 19.2%. The next earnings report is expected on December 1, 2026, which will provide further insights into the company's performance.

Insider Buying and Selling at NetApp, Inc.

Insider transactions show that several executives have sold shares recently. CEO George Kurian sold 10,000 shares on October 1, 2026, valued at approximately $2.10 million. Director Gerald D. Held sold 5,757 shares at an average price of $212.00, totaling about $1.22 million on the same day. Another Director, Carrie Palin, sold 5,000 shares at $216.43, worth around $1.08 million on October 2, 2026. Additionally, Officer Elizabeth M. O'Callahan sold 1,000 shares at $237.42, valued at $237,420 on October 12, 2026.

Analysts Set New Price Targets

On October 14, 2026, Barclays downgraded NetApp to an Equal-Weight rating with a price target of $219. Earlier, on September 30, 2026, B of A Securities maintained a Neutral rating with a target of $220. Loop Capital kept a Buy rating with a target of $260 on October 2, 2026, while TD Cowen maintained a Buy rating with a target of $250 on October 6, 2026. Evercore ISI Group upgraded its rating to Outperform on October 7, with a target of $300.

About NetApp, Inc.

NetApp, Inc. is a technology company based in San Jose, California, specializing in enterprise software and systems. It helps customers manage and transform their data infrastructures through its Hybrid Cloud and Public Cloud segments. The recent rating downgrade by Barclays highlights the cautious outlook on the stock following its performance and upcoming earnings report.

Bottom Line

Investors will be watching NetApp's upcoming earnings report on December 1, 2026, for insights into its financial health. The downgrade by Barclays to an Equal-Weight rating could influence market sentiment, especially as the stock trades below the firm's price target.