Research Analysts Set Expectations for NetApp Q2 Earnings

NetApp, Inc. (NASDAQ:NTAP) – Research analysts at Northland Securities raised their Q2 2027 earnings per share estimates for NetApp in a research report issued to clients and investors on Thursday, September 3rd. Northland Securities analyst N. Chokshi now expects that the data storage provider will earn $2.09 per share for the quarter, up from their prior forecast of $1.70. Northland Securities currently has a “Outperform” rating and a $187.00 target price on the stock. The consensus estimate for NetApp’s current full-year earnings is $8.25 per share. Northland Securities also issued estimates for NetApp’s Q3 2027 earnings at $1.75 EPS, Q4 2027 earnings at $2.10 EPS, FY2027 earnings at $8.14 EPS, Q1 2028 earnings at $2.45 EPS, Q2 2028 earnings at $2.35 EPS, Q3 2028 earnings at $1.91 EPS, Q4 2028 earnings at $2.44 EPS and FY2028 earnings at $9.15 EPS.

Other research analysts have also recently issued reports about the stock. Evercore set a $210.00 price objective on shares of NetApp in a report on Monday, August 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of NetApp in a research report on Friday, September 4th. JPMorgan Chase & Co. lifted their price target on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of NetApp in a report on Thursday, September 3rd. Finally, Wedbush increased their price objective on NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Six analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $192.07.

NetApp Stock Performance

NTAP opened at $184.74 on Thursday. NetApp has a 1-year low of $93.69 and a 1-year high of $209.06. The company has a market cap of $36.29 billion, a price-to-earnings ratio of 26.06, a PEG ratio of 2.05 and a beta of 1.44. The company’s fifty day moving average price is $180.60 and its two-hundred day moving average price is $142.93. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 1.30.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.46. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.84 billion. NetApp had a net margin of 19.18% and a return on equity of 119.13%. NetApp’s revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.15 EPS. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Park Square Financial Group LLC grew its stake in NetApp by 68.7% in the 4th quarter. Park Square Financial Group LLC now owns 253 shares of the data storage provider’s stock valued at $29,000 after purchasing an additional 103 shares during the period. Gen Wealth Partners Inc bought a new stake in shares of NetApp during the 4th quarter worth $30,000. DV Equities LLC purchased a new position in shares of NetApp in the 4th quarter worth about $30,000. Roble Belko & Company Inc purchased a new position in shares of NetApp in the 1st quarter worth about $31,000. Finally, Elyxium Wealth LLC purchased a new position in shares of NetApp in the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 92.17% of the company’s stock.

Insider Activity at NetApp

In other NetApp news, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This trade represents a 51.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth O’Callahan sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the transaction, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. The trade was a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 54,072 shares of company stock worth $8,556,040. Insiders own 0.36% of the company’s stock.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be paid a $0.52 dividend. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a yield of 1.1%. NetApp’s dividend payout ratio (DPR) is 29.34%.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Northland Securities raised its earnings outlook. The firm increased its FY2027 EPS forecast to $8.14 from $7.11 and its FY2028 forecast to $9.15 from $7.85. It also lifted estimates for Q2 2027 to $2.09 from $1.70, Q3 2027 to $1.75 from $1.70, and Q4 2027 to $2.10 from $2.02. Northland maintained an Outperform rating and a $187 price target, signaling confidence in NetApp’s earnings growth.
• Positive Sentiment: Longer-term quarterly estimates imply continued profitability. Northland projects EPS of $2.45 in Q1 2028, $2.35 in Q2, $1.91 in Q3 and $2.44 in Q4, supporting expectations for sustained demand for NetApp’s data-storage products and AI-related infrastructure.
• Positive Sentiment: NetApp was highlighted as a sales-growth stock. Zacks included the company among stocks with sustainable sales growth, strong cash flow and favorable profitability and valuation screens, which may reinforce investor interest. Zacks sales growth stocks article
• Neutral Sentiment: Citi reiterated a Hold rating and $190 target. Analyst Asiya Merchant cited a robust AI-driven growth outlook but said the valuation appears fairly priced, limiting the immediate upside implied by the company’s growth prospects. TipRanks NetApp analyst rating article

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.

The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.