NetApp (NASDAQ:NTAP) Updates FY 2027 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY 2027 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 9.730-10.030 for the period, compared to the consensus EPS estimate of 8.680. The company issued revenue guidance of $8.0 billion-$8.2 billion, compared to the consensus revenue estimate of $7.5 billion. NetApp also updated its Q2 2027 guidance to 2.540-2.640 EPS.

NetApp Trading Down 1.3%

NASDAQ NTAP traded down $2.39 on Wednesday, hitting $180.77. The company’s stock had a trading volume of 3,700,485 shares, compared to its average volume of 2,689,264. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. The firm has a market cap of $35.47 billion, a P/E ratio of 28.42, a PEG ratio of 3.30 and a beta of 1.45. The company’s 50-day simple moving average is $176.95 and its 200 day simple moving average is $139.38. NetApp has a 52-week low of $93.69 and a 52-week high of $209.06.

NetApp (NASDAQ:NTAP) last released its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.46. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $1.84 billion. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Research analysts predict that NetApp will post 7.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays upped their price objective on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Susquehanna lifted their price target on shares of NetApp from $110.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Evercore set a $210.00 price target on NetApp in a report on Monday, August 24th. Finally, Northland Securities boosted their price target on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $184.08.

Insider Activity

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the sale, the executive vice president owned 30,297 shares in the company, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Cesar Cernuda sold 2,608 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the completion of the sale, the president owned 46,530 shares in the company, valued at approximately $9,514,454.40. This trade represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 55,072 shares of company stock worth $8,719,520 over the last ninety days. Insiders own 0.36% of the company’s stock.

Institutional Trading of NetApp

Several institutional investors and hedge funds have recently modified their holdings of the stock. DV Equities LLC purchased a new position in shares of NetApp in the 4th quarter worth approximately $30,000. Gen Wealth Partners Inc purchased a new position in shares of NetApp in the fourth quarter worth $30,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of NetApp during the third quarter valued at $35,000. Zions Bancorporation National Association UT raised its stake in NetApp by 99.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 385 shares of the data storage provider’s stock worth $41,000 after acquiring an additional 192 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its stake in shares of NetApp by 92.8% in the third quarter. Sunbelt Securities Inc. now owns 480 shares of the data storage provider’s stock worth $57,000 after purchasing an additional 231 shares during the last quarter. Institutional investors own 92.17% of the company’s stock.

About NetApp

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.