NetApp (NASDAQ:NTAP) Releases FY 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 7.920-8.020 for the period, compared to the consensus estimate of 7.290. The company issued revenue guidance of $6.8 billion-$6.9 billion, compared to the consensus revenue estimate of $6.8 billion. NetApp also updated its Q4 2026 guidance to 2.210-2.310 EPS.

NetApp Price Performance

Shares of NASDAQ NTAP traded down $2.74 during midday trading on Thursday, reaching $99.14. The company’s stock had a trading volume of 3,815,472 shares, compared to its average volume of 2,508,811. NetApp has a one year low of $71.84 and a one year high of $126.66. The company has a market cap of $19.64 billion, a price-to-earnings ratio of 17.24, a price-to-earnings-growth ratio of 3.46 and a beta of 1.38. The company has a 50 day moving average price of $103.62 and a 200 day moving average price of $111.40. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 2.52.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings results on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.17. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the business posted $1.87 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts expect that NetApp will post 5.89 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NTAP shares. Bank of America boosted their target price on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. UBS Group boosted their price objective on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on shares of NetApp in a research note on Tuesday, January 13th. They set a “buy” rating and a $128.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research report on Wednesday, November 26th. Finally, Barclays upped their price target on shares of NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $123.21.

Insider Transactions at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $103.45, for a total value of $103,450.00. Following the transaction, the executive vice president owned 20,075 shares in the company, valued at $2,076,758.75. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.28% of the stock is currently owned by insiders.

More NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Quarterly results beat: NetApp reported EPS of $2.12 vs. $2.07 consensus and revenue of $1.71B vs. ~$1.70B expected — the company continues to deliver steady top- and bottom-line execution. Press Release
• Positive Sentiment: Raised guidance: NetApp lifted FY‑2026 EPS guidance to $7.920–8.020 (consensus ~7.29) and Q4 EPS to $2.210–2.310 (consensus ~2.08); revenue guidance was modestly above consensus — a material beat on forward numbers that should support valuation multiple expansion. Slide Deck
• Neutral Sentiment: Analyst stance mixed: Wedbush reaffirmed a “neutral” rating with a $115 target (some upside vs. current levels), reflecting cautious optimism rather than an immediate buy signal for momentum investors. Wedbush Note
• Neutral Sentiment: Pre-earnings coverage and previews framed expectations conservatively, which likely reduced surprise elasticity despite the beat — many investors already priced in cautious expectations. Earnings Preview
• Negative Sentiment: Strategic transition risk: coverage is questioning whether NetApp’s shift toward AI-focused cloud subscriptions alters its investment case — that transition (and pace of subscription adoption) creates execution risk and investor uncertainty. AI Strategy Article
• Negative Sentiment: Competitive/market comparisons: analysts and blogs are contrasting NetApp with peers (e.g., Seagate) that are benefiting from AI-driven HDD demand and momentum — that relative story can pressure NTAP multiple and sentiment. Seagate vs NetApp

Hedge Funds Weigh In On NetApp

A number of hedge funds have recently added to or reduced their stakes in NTAP. Sivia Capital Partners LLC acquired a new stake in NetApp in the second quarter valued at approximately $315,000. B. Riley Wealth Advisors Inc. bought a new position in shares of NetApp during the 2nd quarter valued at $203,000. Litman Gregory Wealth Management LLC bought a new position in shares of NetApp during the 4th quarter valued at $194,000. Ancora Advisors LLC lifted its stake in shares of NetApp by 1,759.3% in the 3rd quarter. Ancora Advisors LLC now owns 1,004 shares of the data storage provider’s stock valued at $119,000 after purchasing an additional 950 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its holdings in 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 purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.

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.