NetApp (NASDAQ:NTAP) Issues FY 2026 Earnings Guidance

NetApp (NASDAQ:NTAP - Get Free Report) updated its FY 2026 earnings guidance on Thursday. The company provided EPS guidance of 7.600-7.900 for the period, compared to the consensus EPS estimate of 7.710. The company issued revenue guidance of $6.6 billion-$6.9 billion, compared to the consensus revenue estimate of $6.9 billion. NetApp also updated its Q1 2026 guidance to 1.480-1.580 EPS.

NetApp Trading Down 0.5%

NTAP traded down $0.53 on Friday, reaching $98.68. 7,013,958 shares of the company traded hands, compared to its average volume of 1,920,207. The company has a market cap of $20.07 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. 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 one year low of $71.84 and a one year high of $135.45. The firm has a fifty day simple moving average of $90.19 and a two-hundred day simple moving average of $107.01.

NetApp (NASDAQ:NTAP - Get Free Report) last issued its earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts' consensus estimates of $1.90 by $0.03. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The company'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. As a group, equities research analysts expect that NetApp will post 5.89 earnings per share for the current year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp's dividend payout ratio (DPR) is presently 38.52%.

Analysts Set New Price Targets

NTAP has been the topic of a number of recent research reports. Evercore ISI dropped their price target on NetApp from $120.00 to $100.00 and set an "in-line" rating on the stock in a research report on Monday, April 28th. Loop Capital dropped their target price on shares of NetApp from $150.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Morgan Stanley reissued a "cautious" rating on shares of NetApp in a research report on Tuesday, May 20th. Citigroup upped their price target on shares of NetApp from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Finally, TD Cowen cut their price objective on shares of NetApp from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $118.93.

Insider Activity

In other news, EVP Elizabeth M. O'callahan sold 528 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $92.58, for a total transaction of $48,882.24. Following the transaction, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. This represents a 3.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Anders Gustafsson acquired 2,800 shares of the firm's stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average cost of $91.00 per share, with a total value of $254,800.00. Following the completion of the transaction, the director now directly owns 6,348 shares in the company, valued at $577,668. The trade was a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 28,724 shares of company stock worth $2,520,032. Insiders own 0.47% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NetApp stock. Geneos Wealth Management Inc. grew its position in shares of NetApp, Inc. (NASDAQ:NTAP - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 759 shares of the data storage provider's stock after purchasing an additional 210 shares during the quarter. Geneos Wealth Management Inc.'s holdings in NetApp were worth $67,000 as of its most recent filing with the SEC. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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.