Zacks Research Has Optimistic Outlook of NetApp Q3 Earnings

NetApp, Inc. (NASDAQ:NTAP - Free Report) - Investment analysts at Zacks Research boosted their Q3 2026 EPS estimates for shares of NetApp in a research note issued to investors on Thursday, June 19th. Zacks Research analyst V. Doshi now expects that the data storage provider will earn $1.66 per share for the quarter, up from their previous estimate 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.

A number of other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of NetApp from $120.00 to $115.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Citigroup increased their price objective on shares of NetApp from $105.00 to $110.00 and gave the company a "neutral" rating in a report on Monday, June 2nd. Barclays increased their price objective on shares of NetApp from $115.00 to $117.00 and gave the company an "overweight" rating in a report on Friday, May 30th. Wall Street Zen lowered shares of NetApp from a "buy" rating to a "hold" rating in a report on Friday, February 28th. Finally, Wedbush reaffirmed a "neutral" rating and set a $110.00 price objective on shares of NetApp 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 issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $117.79.

NetApp Stock Performance

NetApp stock traded down $0.43 during midday trading on Monday, hitting $104.75. The stock had a trading volume of 2,115,739 shares, compared to its average volume of 1,928,282. The firm's fifty day moving average is $97.17 and its two-hundred day moving average is $104.55. The company has a market capitalization of $20.99 billion, a PE ratio of 18.44, a P/E/G ratio of 2.42 and a beta of 1.42. NetApp has a 52-week low of $71.84 and a 52-week 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.

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, topping the consensus estimate of $1.90 by $0.03. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. NetApp had a net margin of 18.05% and a return on equity of 126.96%. The firm's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.80 EPS.

Institutional Trading of NetApp

Institutional investors have recently bought and sold shares of the stock. M&T Bank Corp lifted its position in NetApp by 4.8% in the fourth quarter. M&T Bank Corp now owns 12,794 shares of the data storage provider's stock worth $1,485,000 after buying an additional 581 shares during the last quarter. Versor Investments LP bought a new stake in shares of NetApp during the fourth quarter worth $395,000. AMJ Financial Wealth Management lifted its position in shares of NetApp by 120.7% during the fourth quarter. AMJ Financial Wealth Management now owns 68,897 shares of the data storage provider's stock worth $7,998,000 after purchasing an additional 37,684 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of NetApp by 39.6% during the first quarter. Assenagon Asset Management S.A. now owns 36,998 shares of the data storage provider's stock worth $3,250,000 after purchasing an additional 10,494 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of NetApp during the fourth quarter worth $5,151,000. 92.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, President Cesar Cernuda sold 19,696 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $90.15, for a total value of $1,775,594.40. Following the completion of the sale, the president now directly owns 11,928 shares in the company, valued at $1,075,309.20. This trade represents a 62.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO George Kurian sold 8,500 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $101.78, for a total value of $865,130.00. Following the completion of the sale, the chief executive officer now owns 296,805 shares of the company's stock, valued at approximately $30,208,812.90. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 36,998 shares of company stock worth $3,366,108 over the last three months. 0.47% of the stock is owned by insiders.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.52 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.99%. NetApp's dividend payout ratio is presently 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.