NetApp, Inc. Expected to Post FY2026 Earnings of $5.89 Per Share (NASDAQ:NTAP)

NetApp, Inc. (NASDAQ:NTAP) – Investment analysts at Zacks Research raised their FY2026 EPS estimates for NetApp in a report issued on Monday, September 23rd. Zacks Research analyst V. Doshi now forecasts that the data storage provider will post earnings per share of $5.89 for the year, up from their prior estimate of $5.88. The consensus estimate for NetApp’s current full-year earnings is $5.71 per share.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.11. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.53 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share.

Other equities analysts have also issued reports about the stock. TD Cowen lifted their price objective on shares of NetApp from $135.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Bank of America lifted their price objective on shares of NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Barclays lifted their price objective on shares of NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Wedbush restated a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research note on Monday, August 26th. Finally, Stifel Nicolaus raised their target price on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Hold” and a consensus target price of $129.06.

NetApp Stock Performance

Shares of NTAP stock opened at $121.68 on Wednesday. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 4.61 and a beta of 1.23. The company’s 50 day moving average is $123.42 and its 200 day moving average is $117.01. The company has a quick ratio of 0.91, a current ratio of 0.96 and a debt-to-equity ratio of 1.34. NetApp has a 52-week low of $70.82 and a 52-week high of $135.01.

NetApp declared that its board has authorized a share repurchase plan on Thursday, May 30th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the data storage provider to buy up to 4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 4th. This represents a $2.08 annualized dividend and a dividend yield of 1.71%. NetApp’s payout ratio is currently 44.83%.

Insider Transactions at NetApp

In other news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction on Friday, June 28th. The shares were sold at an average price of $129.46, for a total transaction of $2,848,120.00. Following the completion of the sale, the president now directly owns 64,789 shares in the company, valued at $8,387,583.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, President Cesar Cernuda sold 22,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $129.46, for a total transaction of $2,848,120.00. Following the completion of the transaction, the president now directly owns 64,789 shares in the company, valued at $8,387,583.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Elizabeth M. O’callahan sold 452 shares of the business’s stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $133.07, for a total transaction of $60,147.64. Following the transaction, the executive vice president now owns 11,886 shares of the company’s stock, valued at $1,581,670.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,952 shares of company stock worth $4,016,328. Company insiders own 0.37% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC increased its holdings in NetApp by 26.4% in the fourth quarter. Corient Private Wealth LLC now owns 60,548 shares of the data storage provider’s stock valued at $5,338,000 after buying an additional 12,634 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in NetApp by 68.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 454 shares of the data storage provider’s stock valued at $40,000 after buying an additional 184 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in NetApp by 8.3% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 15,847 shares of the data storage provider’s stock valued at $1,397,000 after buying an additional 1,211 shares in the last quarter. US Bancorp DE increased its holdings in NetApp by 14.1% in the fourth quarter. US Bancorp DE now owns 14,522 shares of the data storage provider’s stock valued at $1,280,000 after buying an additional 1,794 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in NetApp by 40.1% in the fourth quarter. Advisory Services Network LLC now owns 10,411 shares of the data storage provider’s stock valued at $918,000 after buying an additional 2,980 shares in the last quarter. 92.17% of the stock is currently owned by institutional investors and hedge funds.

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.