NetApp (NASDAQ:NTAP) Updates Q1 2026 Earnings Guidance

NetApp (NASDAQ:NTAP - Get Free Report) updated its first quarter 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.480-1.580 for the period, compared to the consensus estimate of 1.660. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. NetApp also updated its FY 2026 guidance to 7.600-7.900 EPS.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NTAP shares. JPMorgan Chase & Co. dropped their price target on NetApp from $120.00 to $115.00 and set an "overweight" rating on the stock in a research report on Friday. Barclays lifted their target price on NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a research note on Friday. Morgan Stanley restated a "cautious" rating on shares of NetApp in a research note on Tuesday, May 20th. Wells Fargo & Company lowered their price objective on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, Bank of America raised shares of NetApp from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $121.00 to $128.00 in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, NetApp presently has an average rating of "Hold" and a consensus price target of $118.93.

NetApp Price Performance

Shares of NTAP traded down $0.53 during trading hours on Friday, reaching $98.68. The company had a trading volume of 7,013,958 shares, compared to its average volume of 1,920,207. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. NetApp has a 12-month low of $71.84 and a 12-month high of $135.45. The firm has a 50 day simple moving average of $90.19 and a 200-day simple moving average of $107.01. The company has a market capitalization of $20.07 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 2.45 and a beta of 1.40.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its earnings results on Thursday, May 29th. The data storage provider reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.90 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the company posted $1.80 earnings per share. Research analysts expect that NetApp will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

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 issued a dividend of $0.52 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 annualized dividend and a yield of 2.11%. NetApp's dividend payout ratio is presently 38.52%.

Insider Buying and Selling at NetApp

In other NetApp news, Director Anders Gustafsson acquired 2,800 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was acquired at an average cost of $91.00 per share, with a total value of $254,800.00. Following the purchase, the director now directly owns 6,348 shares in the company, valued at approximately $577,668. This trade represents a 78.92% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO George Kurian sold 8,500 shares of the company's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the completion of the sale, the chief executive officer now directly owns 249,765 shares in the company, valued at approximately $20,438,269.95. The trade was a 3.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,724 shares of company stock valued at $2,520,032. Insiders own 0.47% of the company's stock.

Hedge Funds Weigh In On NetApp

An institutional investor recently raised its position in NetApp stock. Geneos Wealth Management Inc. grew its stake in NetApp, Inc. (NASDAQ:NTAP - Free Report) by 38.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 759 shares of the data storage provider's stock after acquiring an additional 210 shares during the quarter. Geneos Wealth Management Inc.'s holdings in NetApp were worth $67,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 92.17% of the company's stock.

About NetApp

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.