NetApp (NASDAQ:NTAP) Releases Q2 2027 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its second quarter 2027 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.540-2.640 for the period, compared to the consensus EPS estimate of 2.080. The company issued revenue guidance of $2.0 billion-$2.2 billion, compared to the consensus revenue estimate of $1.8 billion. NetApp also updated its FY 2027 guidance to 9.730-10.030 EPS.

NetApp Stock Down 1.3%

Shares of NASDAQ NTAP traded down $2.39 during mid-day trading on Wednesday, reaching $180.77. 3,700,485 shares of the company’s stock were exchanged, compared to its average volume of 2,689,264. NetApp has a twelve month low of $93.69 and a twelve month high of $209.06. 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 capitalization of $35.47 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.30 and a beta of 1.45. The business has a fifty day simple moving average of $176.95 and a 200 day simple moving average of $139.38.

NetApp (NASDAQ:NTAP) last released 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 firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.84 billion. NetApp had a return on equity of 117.23% and a net margin of 18.43%.NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, equities analysts expect that NetApp will post 7.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America raised their price objective on shares of NetApp from $180.00 to $206.00 and gave the stock a “neutral” rating in a research report on Monday. Northland Securities lifted their price objective on shares of NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Evercore set a $210.00 target price on shares of NetApp in a report on Monday, August 24th. Susquehanna boosted their target price 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. Finally, Barclays increased their price target on NetApp from $120.00 to $199.00 and gave the company an “overweight” 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $184.08.

Insider Buying and Selling at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated 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 sale, the executive vice president owned 30,297 shares of the company’s stock, valued at approximately $5,872,164.54. This represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of NetApp stock in a transaction that occurred on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total value of $7,658,016.48. Following the completion of the transaction, the president directly owned 46,806 shares in the company, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 55,072 shares of company stock valued at $8,719,520 in the last ninety days. Insiders own 0.36% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Transamerica Financial Advisors LLC boosted its stake in NetApp by 16.8% during the fourth quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock valued at $89,000 after buying an additional 120 shares during the period. Voleon Capital Management LP raised its holdings in shares of NetApp by 3.9% in the 3rd quarter. Voleon Capital Management LP now owns 3,849 shares of the data storage provider’s stock valued at $456,000 after acquiring an additional 143 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of NetApp by 3.5% during the 3rd quarter. Hilltop Holdings Inc. now owns 5,404 shares of the data storage provider’s stock valued at $640,000 after acquiring an additional 184 shares during the last quarter. Zions Bancorporation National Association UT increased its position in shares of NetApp by 99.5% in the fourth quarter. Zions Bancorporation National Association UT now owns 385 shares of the data storage provider’s stock worth $41,000 after purchasing an additional 192 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its stake in NetApp by 4.8% in the third quarter. Coldstream Capital Management Inc. now owns 4,320 shares of the data storage provider’s stock valued at $512,000 after purchasing an additional 199 shares in the last quarter. Institutional investors own 92.17% of the company’s stock.

NetApp Company Profile

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.