NetApp (NASDAQ:NTAP) Updates FY 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its FY 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 7.600-7.900 for the period, compared to the consensus estimate of 7.710. The company issued revenue guidance of $6.6 billion-$6.9 billion, compared to the consensus revenue estimate of $6.9 billion. NetApp also updated its Q1 2026 guidance to 1.480-1.580 EPS.

NetApp Stock Performance

Shares of NetApp stock opened at $98.68 on Friday. The company has a 50 day moving average of $90.19 and a 200-day moving average of $107.10. NetApp has a 1-year low of $71.84 and a 1-year high of $135.45. The company has a current ratio of 0.91, a quick ratio of 0.84 and a debt-to-equity ratio of 1.39. The company has a market cap of $20.07 billion, a PE ratio of 18.14, a price-to-earnings-growth ratio of 2.45 and a beta of 1.40.

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

NetApp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, July 3rd. NetApp’s dividend payout ratio is 38.52%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NTAP shares. Keefe, Bruyette & Woods upgraded shares of NetApp to an “outperform” rating in a research report on Wednesday, February 19th. Bank of America upgraded shares of NetApp from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $121.00 to $128.00 in a research report on Wednesday, February 19th. TD Cowen lowered their price objective on shares of NetApp from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Barclays upped their price objective on shares of NetApp from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Evercore ISI lowered their price objective on shares of NetApp from $120.00 to $100.00 and set an “in-line” rating for the company in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, NetApp presently has an average rating of “Hold” and a consensus price target of $118.93.

Insider Activity

In other news, CEO George Kurian sold 8,500 shares of the company’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $81.83, for a total value of $695,555.00. Following the sale, the chief executive officer now directly owns 249,765 shares of the company’s stock, valued at approximately $20,438,269.95. This represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Cesar Cernuda sold 19,696 shares of the company’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $90.15, for a total transaction of $1,775,594.40. Following the completion of the sale, the president now directly owns 11,928 shares in the company, valued at approximately $1,075,309.20. This represents a 62.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,724 shares of company stock valued at $2,520,032. 0.47% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NetApp stock. Geneos Wealth Management Inc. increased its stake in shares of NetApp, Inc. (NASDAQ:NTAP) by 38.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 759 shares of the data storage provider’s stock after acquiring 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 quarter. Institutional investors 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.