NetApp (NASDAQ:NTAP) Updates Q1 2027 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its first quarter 2027 earnings guidance on Thursday. The company provided earnings per share guidance of 2.050-2.150 for the period, compared to the consensus earnings per share estimate of 1.780. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $1.7 billion. NetApp also updated its FY 2027 guidance to 8.700-9.000 EPS.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Bank of America lifted their target price on NetApp from $118.00 to $125.00 and gave the company a “neutral” rating in a research report on Wednesday, May 20th. Weiss Ratings cut NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, March 13th. Citigroup cut NetApp from a “neutral” rating to a “mixed” rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. cut NetApp from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $125.00 to $110.00 in a research report on Thursday, April 16th. Finally, Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, NetApp has an average rating of “Hold” and a consensus target price of $122.27.

NetApp Trading Down 0.2%

Shares of NTAP stock traded down $0.34 during mid-day trading on Thursday, reaching $142.40. 5,991,844 shares of the stock traded hands, compared to its average volume of 2,505,100. The stock’s fifty day simple moving average is $110.18 and its two-hundred day simple moving average is $107.28. NetApp has a 1-year low of $93.69 and a 1-year high of $143.65. The company has a market cap of $28.10 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 2.53 and a beta of 1.28. The company has a quick ratio of 1.36, a current ratio of 1.39 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.05. NetApp had a return on equity of 118.11% and a net margin of 18.07%.The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same period last year, the firm posted $1.91 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, research analysts anticipate that NetApp will post 6.48 EPS for the current fiscal year.

Insider Transactions at NetApp

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the sale, the executive vice president directly owned 18,382 shares of the company’s stock, valued at approximately $2,164,112.86. This trade represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Lorenzo Daniel De sold 275 shares of NetApp stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the sale, the chief accounting officer directly owned 1,090 shares in the company, valued at $130,800. The trade was a 20.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,275 shares of company stock worth $347,650 over the last three months. Insiders own 0.28% of the company’s stock.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp posted fiscal Q4 2026 results that topped revenue expectations, with revenue of $1.95 billion versus the $1.87 billion consensus. Article Title
• Positive Sentiment: The company issued upbeat guidance for Q1 2027, with EPS guidance of 2.05-2.15 and revenue guidance of $1.8 billion-$1.9 billion, both above Wall Street estimates.
• Positive Sentiment: NetApp also raised full-year FY 2027 guidance to EPS of 8.70-9.00 and revenue of $7.3 billion-$7.6 billion, ahead of consensus.
• Positive Sentiment: The board authorized a new $1.0 billion share repurchase program, which can help support earnings per share and signals confidence in cash generation. Article Title
• Neutral Sentiment: Despite the strong report, the quarter was mixed on profitability versus expectations: EPS came in below consensus in one third-party summary, which may be creating some volatility around the results. Article Title
• Neutral Sentiment: Recent analyst commentary remains mixed, with at least one underweight rating still on the stock, even as price targets have been revised higher by some firms.
• Negative Sentiment: Some market coverage notes that NTAP has faced concerns around slower IT spending and cloud-related pressure, which may limit upside if the outlook cools later in the year. Article Title

Hedge Funds Weigh In On NetApp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sivia Capital Partners LLC acquired a new position in shares of NetApp in the second quarter worth approximately $315,000. Atlas Capital Advisors Inc. acquired a new position in shares of NetApp in the fourth quarter worth approximately $86,000. Transamerica Financial Advisors LLC lifted its stake in shares of NetApp by 16.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock worth $89,000 after acquiring an additional 120 shares during the period. Litman Gregory Wealth Management LLC acquired a new position in shares of NetApp in the fourth quarter worth approximately $194,000. Finally, HM Payson & Co. lifted its stake in shares of NetApp by 235.1% in the fourth quarter. HM Payson & Co. now owns 640 shares of the data storage provider’s stock worth $69,000 after acquiring an additional 449 shares during the period. 92.17% of the stock is owned by institutional investors and hedge funds.

About NetApp

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.