NetApp (NASDAQ:NTAP) Updates Q1 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its first quarter 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.480-1.580 for the period, compared to the consensus estimate of 1.660. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. NetApp also updated its FY 2026 guidance to 7.600-7.900 EPS.

NetApp Stock Down 0.5%

NTAP opened at $99.21 on Friday. NetApp has a one year low of $71.84 and a one year high of $135.45. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.84 and a current ratio of 0.91. The stock has a market capitalization of $20.18 billion, a P/E ratio of 18.24, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40. The business’s 50-day simple moving average is $90.11 and its 200-day simple moving average is $107.25.

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

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.10%. NetApp’s dividend payout ratio is presently 38.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays raised NetApp from an “equal weight” rating to an “overweight” rating and set a $115.00 price target on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their target price on NetApp from $153.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Loop Capital cut their price target on NetApp from $150.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Evercore ISI decreased their price target on NetApp from $120.00 to $100.00 and set an “in-line” rating for the company in a report on Monday, April 28th. Finally, Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $121.40.

Insider Activity at NetApp

In other news, EVP Elizabeth M. O’callahan sold 528 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $92.58, for a total value of $48,882.24. Following the completion of the transaction, the executive vice president now owns 12,900 shares in the company, valued at $1,194,282. This trade represents a 3.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Anders Gustafsson purchased 2,800 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were purchased at an average cost of $91.00 per share, with a total value of $254,800.00. Following the purchase, the director now directly owns 6,348 shares in the company, valued at approximately $577,668. The trade was a 78.92% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 28,724 shares of company stock worth $2,520,032 over the last 90 days. Company insiders own 0.47% of the company’s stock.

Institutional Trading of NetApp

An institutional investor recently raised its position in NetApp stock. Geneos Wealth Management Inc. raised its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 38.3% during the first quarter, according to the company in its most recent 13F filing with the 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 at the end of the most recent reporting period. Institutional investors and hedge funds own 92.17% of the company’s stock.

NetApp Company Profile

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.