NetApp (NASDAQ:NTAP) Updates FY 2027 Earnings Guidance

by · The Cerbat Gem

NetApp (NASDAQ:NTAP – Get Free Report) updated its FY 2027 earnings guidance on Thursday. The company provided earnings per share guidance of 8.700-9.000 for the period, compared to the consensus earnings per share estimate of 8.250. The company issued revenue guidance of $7.3 billion-$7.6 billion, compared to the consensus revenue estimate of $7.2 billion. NetApp also updated its Q1 2027 guidance to 2.050-2.150 EPS.

Analysts Set New Price Targets

A number of brokerages have weighed in on NTAP. Wall Street Zen downgraded shares of NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. JPMorgan Chase & Co. downgraded shares of NetApp from an “overweight” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a report on Thursday, April 16th. Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. Citigroup downgraded shares of NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday, May 14th. Finally, Weiss Ratings downgraded shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $122.27.

Read Our Latest Stock Analysis on NetApp

NetApp Trading Down 0.2%

NTAP stock traded down $0.34 during mid-day trading on Thursday, reaching $142.40. 5,991,844 shares of the stock traded hands, compared to its average volume of 2,505,100. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp has a 52-week low of $93.69 and a 52-week high of $143.65. The company has a market cap of $28.10 billion, a P/E ratio of 23.81, a P/E/G ratio of 2.53 and a beta of 1.28. The stock’s fifty day moving average is $110.18 and its 200-day moving average is $107.28.

NetApp (NASDAQ:NTAP – Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. The business’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, sell-side analysts expect that NetApp will post 6.48 earnings per share for the current year.

Insider Transactions at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total transaction of $33,000.00. Following the completion of the sale, the chief accounting officer directly owned 1,090 shares of the company’s stock, valued at approximately $130,800. This represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $117.73, for a total transaction of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares of the company’s stock, valued at $2,164,112.86. This represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,275 shares of company stock valued at $347,650 over the last ninety days. Insiders own 0.28% of the company’s stock.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

  • Positive Sentiment: NetApp posted fiscal Q4 2026 results that topped revenue expectations, with revenue of $1.95 billion versus the $1.87 billion consensus. Article Title
  • Positive Sentiment: The company issued upbeat guidance for Q1 2027, with EPS guidance of 2.05-2.15 and revenue guidance of $1.8 billion-$1.9 billion, both above Wall Street estimates.
  • Positive Sentiment: NetApp also raised full-year FY 2027 guidance to EPS of 8.70-9.00 and revenue of $7.3 billion-$7.6 billion, ahead of consensus.
  • Positive Sentiment: The board authorized a new $1.0 billion share repurchase program, which can help support earnings per share and signals confidence in cash generation. Article Title
  • Neutral Sentiment: Despite the strong report, the quarter was mixed on profitability versus expectations: EPS came in below consensus in one third-party summary, which may be creating some volatility around the results. Article Title
  • Neutral Sentiment: Recent analyst commentary remains mixed, with at least one underweight rating still on the stock, even as price targets have been revised higher by some firms.
  • Negative Sentiment: Some market coverage notes that NTAP has faced concerns around slower IT spending and cloud-related pressure, which may limit upside if the outlook cools later in the year. Article Title

Institutional Trading of NetApp

A number of hedge funds have recently bought and sold shares of the company. Compound Planning Inc. lifted its stake in NetApp by 13.3% during the fourth quarter. Compound Planning Inc. now owns 5,842 shares of the data storage provider’s stock valued at $626,000 after buying an additional 686 shares in the last quarter. Invesco Ltd. increased its holdings in shares of NetApp by 5.1% in the 4th quarter. Invesco Ltd. now owns 3,170,157 shares of the data storage provider’s stock valued at $339,492,000 after purchasing an additional 154,490 shares during the period. Corient Private Wealth LLC increased its holdings in shares of NetApp by 169.0% in the 4th quarter. Corient Private Wealth LLC now owns 129,925 shares of the data storage provider’s stock valued at $13,914,000 after purchasing an additional 81,634 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of NetApp by 1.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 46,106 shares of the data storage provider’s stock valued at $4,938,000 after purchasing an additional 466 shares during the period. Finally, EP Wealth Advisors LLC acquired a new position in shares of NetApp in the 4th quarter valued at about $1,824,000. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Company Profile

(Get Free Report)

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.

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