NetApp (NASDAQ:NTAP) Releases Q1 2027 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its first quarter 2027 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.050-2.150 for the period, compared to the consensus 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.

NetApp Trading Down 0.2%

Shares of NTAP traded down $0.34 during midday trading on Thursday, hitting $142.40. The stock had a trading volume of 5,991,844 shares, compared to its average volume of 2,505,100. NetApp has a fifty-two week low of $93.69 and a fifty-two week high of $143.65. The business has a 50-day simple moving average of $110.18 and a two-hundred day simple moving average of $107.28. The firm has a market cap of $28.10 billion, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 2.53 and a beta of 1.28. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, February 26th. The data storage provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.07 by $0.05. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same period last year, the company posted $1.91 earnings per share. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, equities analysts forecast that NetApp will post 6.48 EPS for the current year.

Analyst Upgrades and Downgrades

NTAP has been the subject of several recent analyst reports. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of NetApp in a report on Wednesday, February 25th. Bank of America raised their price target on shares of NetApp from $118.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Citigroup cut shares of NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday, May 14th. Finally, Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.27.

Insider Activity at NetApp

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

More NetApp News

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

Large investors have recently made changes to their positions in the business. DV Equities LLC bought a new stake in shares of NetApp in the fourth quarter valued at approximately $30,000. Gen Wealth Partners Inc acquired a new position in NetApp during the 4th quarter valued at $30,000. Measured Wealth Private Client Group LLC bought a new stake in NetApp in the 3rd quarter valued at $35,000. Zions Bancorporation National Association UT grew its position in NetApp by 99.5% in the 4th quarter. Zions Bancorporation National Association UT now owns 385 shares of the data storage provider’s stock worth $41,000 after purchasing an additional 192 shares during the last quarter. Finally, Sunbelt Securities Inc. grew its position in NetApp by 92.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 480 shares of the data storage provider’s stock worth $57,000 after purchasing an additional 231 shares during 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.