NetApp (NASDAQ:NTAP) Issues Q4 2026 Earnings Guidance

26 Feb 2026, 18:42 by Doug Wharley · The Cerbat Gem

NetApp (NASDAQ:NTAP – Get Free Report) updated its fourth quarter 2026 earnings guidance on Thursday. The company provided EPS guidance of 2.210-2.310 for the period, compared to the consensus EPS estimate of 2.080. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $1.8 billion. NetApp also updated its FY 2026 guidance to 7.920-8.020 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of NetApp in a report on Wednesday. Bank of America upped their price objective on shares of NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group started coverage on shares of NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 target price on the stock. Barclays boosted their target price on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, Wells Fargo & Company increased their price target on NetApp from $100.00 to $115.00 and gave the company a “positive” rating in a report on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NetApp has an average rating of “Moderate Buy” and a consensus target price of $123.21.

Get Our Latest Stock Analysis on NetApp

NetApp Trading Down 2.7%

NetApp stock traded down $2.74 during mid-day trading on Thursday, hitting $99.14. The company’s stock had a trading volume of 3,815,472 shares, compared to its average volume of 2,508,811. The stock’s fifty day moving average is $103.62 and its two-hundred day moving average is $111.40. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52. The firm has a market capitalization of $19.64 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 3.46 and a beta of 1.38. NetApp has a 1 year low of $71.84 and a 1 year high of $126.66.

NetApp (NASDAQ:NTAP – Get Free Report) last announced its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating the consensus estimate of $1.88 by $0.17. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The company’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.87 EPS. On average, analysts anticipate that NetApp will post 5.89 EPS for the current year.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the completion of the transaction, the executive vice president owned 20,075 shares of the company’s stock, valued at $2,076,758.75. This trade represents a 4.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.28% of the stock is owned by insiders.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

Positive Sentiment: Quarterly results beat: NetApp reported EPS of $2.12 vs. $2.07 consensus and revenue of $1.71B vs. ~$1.70B expected — the company continues to deliver steady top- and bottom-line execution. Press Release
Positive Sentiment: Raised guidance: NetApp lifted FY‑2026 EPS guidance to $7.920–8.020 (consensus ~7.29) and Q4 EPS to $2.210–2.310 (consensus ~2.08); revenue guidance was modestly above consensus — a material beat on forward numbers that should support valuation multiple expansion. Slide Deck
Neutral Sentiment: Analyst stance mixed: Wedbush reaffirmed a “neutral” rating with a $115 target (some upside vs. current levels), reflecting cautious optimism rather than an immediate buy signal for momentum investors. Wedbush Note
Neutral Sentiment: Pre-earnings coverage and previews framed expectations conservatively, which likely reduced surprise elasticity despite the beat — many investors already priced in cautious expectations. Earnings Preview
Negative Sentiment: Strategic transition risk: coverage is questioning whether NetApp’s shift toward AI-focused cloud subscriptions alters its investment case — that transition (and pace of subscription adoption) creates execution risk and investor uncertainty. AI Strategy Article
Negative Sentiment: Competitive/market comparisons: analysts and blogs are contrasting NetApp with peers (e.g., Seagate) that are benefiting from AI-driven HDD demand and momentum — that relative story can pressure NTAP multiple and sentiment. Seagate vs NetApp

Institutional Trading of NetApp

Institutional investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its holdings in NetApp by 94.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock valued at $215,987,000 after purchasing an additional 886,485 shares during the period. AQR Capital Management LLC raised its position in NetApp by 71.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock valued at $219,058,000 after purchasing an additional 771,835 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after buying an additional 718,409 shares during the period. Bank of America Corp DE grew its position in shares of NetApp by 83.0% during the second quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after buying an additional 700,467 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of NetApp by 17.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock worth $442,018,000 after buying an additional 611,003 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

About NetApp

(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.