NetApp (NASDAQ:NTAP) Releases FY 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY 2026 earnings guidance on Thursday. The company provided EPS guidance of 7.600-7.900 for the period, compared to the consensus EPS estimate of 7.710. The company issued revenue guidance of $6.6 billion-$6.9 billion, compared to the consensus revenue estimate of $6.9 billion. NetApp also updated its Q1 2026 guidance to 1.480-1.580 EPS.

Analyst Upgrades and Downgrades

NTAP has been the topic of several research analyst reports. Loop Capital cut their price objective on NetApp from $150.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Morgan Stanley restated a “cautious” rating on shares of NetApp in a report on Tuesday, May 20th. Citigroup lifted their price objective on shares of NetApp from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Wells Fargo & Company decreased their price target on shares of NetApp from $130.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. Finally, Barclays raised NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 price objective on the stock in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, NetApp currently has a consensus rating of “Hold” and a consensus price target of $121.40.

NetApp Trading Down 0.5%

NTAP opened at $99.21 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The firm has a market cap of $20.18 billion, a price-to-earnings ratio of 18.24, a PEG ratio of 2.45 and a beta of 1.40. NetApp has a 12 month low of $71.84 and a 12 month high of $135.45. The stock has a fifty day moving average price of $90.11 and a 200-day moving average price of $107.25.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.03. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the company posted $1.80 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, equities research analysts anticipate that NetApp will post 5.89 earnings per share for the current fiscal year.

NetApp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors 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 yield of 2.10%. NetApp’s payout ratio is 38.52%.

Insider Buying and Selling at NetApp

In related news, EVP Elizabeth M. O’callahan sold 528 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total transaction of $48,882.24. Following the transaction, the executive vice president now directly owns 12,900 shares in the company, valued at $1,194,282. The trade was a 3.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $81.83, for a total value of $695,555.00. Following the completion of the sale, the chief executive officer now directly owns 249,765 shares of the company’s stock, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,724 shares of company stock worth $2,520,032 over the last three months. Corporate insiders own 0.47% of the company’s stock.

Institutional Trading of NetApp

A hedge fund recently raised its stake in NetApp stock. Geneos Wealth Management Inc. increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 38.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 759 shares of the data storage provider’s stock after buying an additional 210 shares during the quarter. Geneos Wealth Management Inc.’s holdings in NetApp were worth $67,000 as of its most recent SEC filing. 92.17% of the stock is owned by institutional investors.

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.