Northland Capmk Has Pessimistic View of NetApp Q2 Earnings

Key Points

• Northland Capital Markets has reduced its Q2 2026 earnings estimates for NetApp from $1.50 to $1.48 per share, reflecting a shift in market outlook for the company.
• Analysts have varied in their recommendations, with JPMorgan increasing NetApp's price target to $130 while Wells Fargo lowered their target to $100, indicating mixed sentiment among investors.
• NetApp has announced a quarterly dividend of $0.52 per share, which will be paid on October 22nd, and has a current dividend yield of 1.8%.

NetApp, Inc. (NASDAQ:NTAP - Free Report) - Equities researchers at Northland Capmk lowered their Q2 2026 earnings estimates for shares of NetApp in a report issued on Thursday, August 28th. Northland Capmk analyst N. Chokshi now forecasts that the data storage provider will post earnings per share of $1.48 for the quarter, down from their previous forecast of $1.50. The consensus estimate for NetApp's current full-year earnings is $5.89 per share. Northland Capmk also issued estimates for NetApp's Q4 2026 earnings at $1.90 EPS, Q1 2027 earnings at $1.58 EPS and Q2 2027 earnings at $1.73 EPS.

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company decreased their target price on shares of NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Argus reiterated a "buy" rating and issued a $130.00 target price on shares of NetApp in a research report on Friday, August 29th. JPMorgan Chase & Co. increased their target price on shares of NetApp from $115.00 to $130.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Citigroup increased their target price on shares of NetApp from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Finally, Wedbush reiterated a "neutral" rating and issued a $150.00 target price on shares of NetApp in a research report on Thursday, August 28th. Seven research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, NetApp currently has an average rating of "Hold" and an average price target of $124.07.

NetApp Price Performance

NTAP traded up $1.38 on Monday, reaching $117.85. The company had a trading volume of 891,283 shares, compared to its average volume of 2,053,437. The company has a fifty day moving average of $107.35 and a 200-day moving average of $100.13. The company has a market capitalization of $23.53 billion, a P/E ratio of 20.84, a PEG ratio of 2.48 and a beta of 1.46. The company has a current ratio of 1.31, a quick ratio of 1.22 and a debt-to-equity ratio of 2.55. NetApp has a one year low of $71.84 and a one year high of $135.45.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be given a $0.52 dividend. The ex-dividend date is Friday, October 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. NetApp's dividend payout ratio (DPR) is 36.75%.

Insiders Place Their Bets

In related news, EVP Elizabeth M. O'callahan sold 1,000 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $105.90, for a total value of $105,900.00. Following the completion of the transaction, the executive vice president owned 23,251 shares in the company, valued at $2,462,280.90. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $101.78, for a total value of $865,130.00. Following the completion of the transaction, the chief executive officer owned 296,805 shares of the company's stock, valued at $30,208,812.90. This trade represents a 2.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,500 shares of company stock valued at $2,921,775 in the last quarter. 0.28% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Manchester Capital Management LLC raised its position in NetApp by 375.0% during the first quarter. Manchester Capital Management LLC now owns 285 shares of the data storage provider's stock valued at $25,000 after buying an additional 225 shares during the period. 1248 Management LLC acquired a new position in NetApp during the first quarter valued at $25,000. Harbour Investments Inc. raised its position in NetApp by 287.9% during the second quarter. Harbour Investments Inc. now owns 256 shares of the data storage provider's stock valued at $27,000 after buying an additional 190 shares during the period. Harbor Asset Planning Inc. acquired a new stake in NetApp during the second quarter valued at $28,000. Finally, Olde Wealth Management LLC acquired a new stake in NetApp during the first quarter valued at $29,000. 92.17% of the stock is owned by institutional investors and hedge funds.

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.