Zacks Research Issues Positive Forecast for NetApp Earnings

NetApp, Inc. (NASDAQ:NTAP - Free Report) - Research analysts at Zacks Research lifted their Q3 2026 earnings per share (EPS) estimates for NetApp in a report issued on Thursday, June 19th. Zacks Research analyst V. Doshi now anticipates that the data storage provider will post earnings per share of $1.66 for the quarter, up from their previous forecast of $1.54. The consensus estimate for NetApp's current full-year earnings is $5.89 per share. Zacks Research also issued estimates for NetApp's Q2 2027 earnings at $1.70 EPS, Q3 2027 earnings at $1.78 EPS and FY2027 earnings at $6.86 EPS.

NetApp (NASDAQ:NTAP - Get Free Report) last released 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 firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. NetApp had a return on equity of 126.96% and a net margin of 18.05%. NetApp's revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $1.80 earnings per share.

NTAP has been the subject of a number of other reports. Evercore ISI decreased their target price on NetApp from $120.00 to $100.00 and set an "in-line" rating for the company in a report on Monday, April 28th. Citigroup lifted their price target on NetApp from $105.00 to $110.00 and gave the stock a "neutral" rating in a report on Monday, June 2nd. JPMorgan Chase & Co. decreased their price target on NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Wells Fargo & Company decreased their price target on NetApp from $115.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Finally, Barclays lifted their price target on NetApp from $115.00 to $117.00 and gave the stock an "overweight" rating in a report on Friday, May 30th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, NetApp presently has a consensus rating of "Hold" and an average target price of $117.79.

NetApp Trading Down 0.1%

NASDAQ:NTAP opened at $102.69 on Monday. The firm has a market cap of $20.58 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 2.35 and a beta of 1.42. The stock has a fifty day moving average price of $95.79 and a 200 day moving average price of $104.73. NetApp has a 12-month low of $71.84 and a 12-month high of $135.45. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 2.39.

Hedge Funds Weigh In On NetApp

Several institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC increased its position in NetApp by 2.2% in the 1st quarter. Voya Investment Management LLC now owns 212,846 shares of the data storage provider's stock valued at $18,696,000 after acquiring an additional 4,669 shares during the period. 1248 Management LLC acquired a new position in NetApp in the 1st quarter valued at about $30,000. Geneos Wealth Management Inc. increased its position in NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider's stock valued at $67,000 after acquiring an additional 210 shares during the period. Flaharty Asset Management LLC acquired a new position in NetApp in the 1st quarter valued at about $88,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider's stock valued at $311,529,000 after acquiring an additional 560,218 shares during the period. Institutional investors and hedge funds own 92.17% of the company's stock.

Insider Transactions at NetApp

In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $101.78, for a total transaction of $865,130.00. Following the sale, the chief executive officer now owns 296,805 shares in the company, valued at approximately $30,208,812.90. The trade was a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 302 shares of NetApp stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $98.77, for a total value of $29,828.54. Following the sale, the chief accounting officer now owns 455 shares in the company, valued at $44,940.35. This trade represents a 39.89% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,998 shares of company stock worth $3,366,108. Corporate insiders own 0.47% of the company's stock.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 dividend yield of 2.03%. The ex-dividend date of this dividend is Thursday, July 3rd. NetApp's dividend payout ratio (DPR) is currently 36.62%.

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.

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