NetApp (NASDAQ:NTAP) Announces Earnings Results

NetApp (NASDAQ:NTAP - Get Free Report) released its quarterly earnings results on Thursday. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.03, RTT News reports. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. NetApp had a return on equity of 123.63% and a net margin of 17.78%. The company's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.80 EPS. NetApp updated its FY 2026 guidance to 7.600-7.900 EPS and its Q1 2026 guidance to 1.480-1.580 EPS.

NetApp Stock Performance

NetApp stock traded up $4.89 during trading on Tuesday, hitting $103.66. The stock had a trading volume of 2,701,739 shares, compared to its average volume of 1,920,773. The stock's 50 day moving average is $90.56 and its two-hundred day moving average is $106.79. The company has a quick ratio of 0.84, a current ratio of 0.91 and a debt-to-equity ratio of 1.39. NetApp has a 1 year low of $71.84 and a 1 year high of $135.45. The stock has a market cap of $21.09 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.52 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 annualized dividend and a yield of 2.01%. NetApp's payout ratio is 36.62%.

Insider Buying and Selling at NetApp

In other NetApp news, EVP Elizabeth M. O'callahan sold 528 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the sale, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. This trade represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now owns 249,765 shares in the company, valued at $20,438,269.95. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,724 shares of company stock valued at $2,520,032 in the last 90 days. 0.47% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NetApp

An institutional investor recently raised its position in NetApp stock. Geneos Wealth Management Inc. raised its holdings in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 38.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 759 shares of the data storage provider's stock after purchasing an additional 210 shares during the period. Geneos Wealth Management Inc.'s holdings in NetApp were worth $67,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 92.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NTAP. Barclays lifted their price target on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday. JPMorgan Chase & Co. cut their price target on NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday. Wall Street Zen downgraded NetApp from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. Loop Capital cut their target price on NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Finally, TD Cowen cut their target price on NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $119.27.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.