NetApp (NASDAQ:NTAP) Updates Q4 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its fourth quarter 2026 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.210-2.310 for the period, compared to the consensus estimate of 2.080. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $1.8 billion. NetApp also updated its FY 2026 guidance to 7.920-8.020 EPS.

NetApp Price Performance

Shares of NTAP stock traded down $0.11 on Friday, reaching $99.03. 5,113,746 shares of the company were exchanged, compared to its average volume of 2,374,097. NetApp has a 1 year low of $71.84 and a 1 year high of $126.66. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.30 and a current ratio of 1.34. The business has a 50-day moving average price of $103.14 and a 200 day moving average price of $111.27. The company has a market cap of $19.61 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 3.44 and a beta of 1.38.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, February 26th. The data storage provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 122.76%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.91 earnings per share. NetApp has set its Q4 2026 guidance at 2.210-2.310 EPS and its FY 2026 guidance at 7.920-8.020 EPS. Equities research analysts forecast that NetApp will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Thursday, April 2nd. NetApp’s dividend payout ratio (DPR) is currently 36.17%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NTAP shares. Wells Fargo & Company raised their target price on shares of NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. The Goldman Sachs Group started coverage on shares of NetApp in a research report on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price objective for the company. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of NetApp in a research report on Wednesday. Barclays raised their price target on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a report on Wednesday, November 26th. Finally, Northland Securities set a $137.00 price objective on NetApp and gave the stock an “outperform” rating in a report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $122.69.

Insiders Place Their Bets

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total value of $103,450.00. Following the sale, the executive vice president directly owned 20,075 shares in the company, valued at $2,076,758.75. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.28% of the company’s stock.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Q3 earnings beat and healthy top‑line: NetApp reported $2.12 EPS vs. $2.07 expected and $1.71B revenue (vs. $1.70B est.), with revenue up ~4.4% year/year — headlines credit AI‑ready infrastructure and strong all‑flash demand for the upside. NetApp Q3 Earnings Beat on Healthy Top-Line Growth
• Positive Sentiment: Raised guidance: Management bumped FY‑2026 EPS guidance to $7.92–8.02 (well above street) and Q4 EPS to $2.21–2.31, signaling confidence in AI and cloud momentum — a primary driver of upbeat market reactions. NetApp surges on earnings beat and raised guidance
• Positive Sentiment: Dividend boost: NetApp declared a $0.52 quarterly dividend (annualized yield ~2.1%), with record/ex‑dividend dates set — supports the income case and signals capital‑allocation discipline.
• Neutral Sentiment: Forward revenue target: Management outlined an ~8% Q4 revenue growth target and highlighted accelerating AI/cloud subscription demand — positive if achieved, but forward guidance carries execution risk. NetApp outlines 8% Q4 revenue growth target
• Neutral Sentiment: Call details and metrics: Conference call, slide deck and transcripts provide detail on margin drivers, product mix (all‑flash, AI infra, cloud subs) and customer traction — useful for modeling but not an immediate directional catalyst. NetApp Q3 2026 Earnings Call Highlights Q3 Earnings Call Transcript
• Negative Sentiment: Strategic/valuation questions: Analysts and pieces are probing whether NetApp’s push toward AI‑focused cloud subscriptions materially changes its margin profile and valuation — that uncertainty may cap near‑term multiple expansion despite the beat. Is NetApp’s Shift Toward AI-Focused Cloud Subscriptions Altering The Investment Case?

Institutional Trading of NetApp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Transamerica Financial Advisors LLC raised its stake in shares of 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 purchasing an additional 120 shares during the period. Voleon Capital Management LP grew its stake in NetApp by 3.9% during the 3rd quarter. Voleon Capital Management LP now owns 3,849 shares of the data storage provider’s stock valued at $456,000 after purchasing an additional 143 shares in the last quarter. Hilltop Holdings Inc. raised its position in shares of NetApp by 3.5% in the 3rd quarter. Hilltop Holdings Inc. now owns 5,404 shares of the data storage provider’s stock valued at $640,000 after purchasing an additional 184 shares in the last quarter. Zions Bancorporation National Association UT boosted its stake in shares of NetApp by 99.5% during the 4th quarter. Zions Bancorporation National Association UT now owns 385 shares of the data storage provider’s stock valued at $41,000 after buying an additional 192 shares during the last quarter. Finally, Coldstream Capital Management Inc. grew its position in shares of NetApp by 4.8% during the third quarter. Coldstream Capital Management Inc. now owns 4,320 shares of the data storage provider’s stock worth $512,000 after buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors 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.