NetApp (NASDAQ:NTAP) Releases FY 2027 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY 2027 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 9.730-10.030 for the period, compared to the consensus estimate of 8.680. The company issued revenue guidance of $8.0 billion-$8.2 billion, compared to the consensus revenue estimate of $7.5 billion. NetApp also updated its Q2 2027 guidance to 2.540-2.640 EPS.

NetApp Trading Down 1.3%

Shares of NTAP traded down $2.39 during mid-day trading on Wednesday, reaching $180.77. 3,700,485 shares of the company were exchanged, compared to its average volume of 2,689,264. The business has a 50 day simple moving average of $176.95 and a two-hundred day simple moving average of $139.38. NetApp has a 52 week low of $93.69 and a 52 week high of $209.06. The stock has a market capitalization of $35.47 billion, a PE ratio of 28.42, a PEG ratio of 3.30 and a beta of 1.45. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44.

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, topping the consensus estimate of $2.12 by $0.46. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.84 billion. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, analysts predict that NetApp will post 7.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NTAP has been the topic of several research analyst reports. Susquehanna upped their target price on NetApp from $110.00 to $185.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Citigroup upped their price objective on shares of NetApp from $150.00 to $209.00 and gave the company a “neutral” rating in a report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their price objective on NetApp from $110.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Wells Fargo & Company upped their price target on NetApp from $115.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Finally, UBS Group restated a “neutral” rating and set a $160.00 price target on shares of NetApp in a report 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 stock. According to MarketBeat.com, NetApp presently has an average rating of “Hold” and a consensus price target of $184.08.

Insider Buying and Selling

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on 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 transaction, the executive vice president directly owned 30,297 shares in the company, valued at approximately $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Cesar Cernuda sold 49,464 shares of the business’s stock in a transaction on Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the sale, the president owned 46,806 shares in the company, valued at approximately $7,246,504.92. The trade was a 51.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,072 shares of company stock valued at $8,719,520 over the last quarter. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NTAP. Geneos Wealth Management Inc. grew its position in NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock worth $67,000 after buying an additional 210 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in NetApp in the 2nd quarter worth approximately $315,000. Cerity Partners LLC boosted its stake in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock worth $4,986,000 after buying an additional 4,232 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of NetApp by 7.3% in the 2nd quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after purchasing an additional 1,662 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in NetApp by 12.7% during the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after buying an additional 2,277 shares during the period. 92.17% of the stock is owned by institutional investors.

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.