NetApp, Inc. to Post FY2026 Earnings of $5.89 Per Share, Zacks Research Forecasts (NASDAQ:NTAP)

NetApp, Inc. (NASDAQ:NTAP) – Equities researchers at Zacks Research raised their FY2026 earnings per share estimates for NetApp in a research note issued on Monday, September 23rd. Zacks Research analyst V. Doshi now forecasts that the data storage provider will post earnings per share of $5.89 for the year, up from their previous estimate of $5.88. The consensus estimate for NetApp’s current full-year earnings is $5.71 per share.

NTAP has been the subject of several other research reports. JPMorgan Chase & Co. increased their price target on shares of NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Wells Fargo & Company increased their price objective on NetApp from $120.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 12th. Citigroup lifted their target price on NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Susquehanna reiterated a “positive” rating and set a $155.00 price target on shares of NetApp in a report on Monday, August 26th. Finally, UBS Group boosted their price objective on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $129.06.

NetApp Trading Up 0.0 %

Shares of NTAP opened at $122.95 on Wednesday. NetApp has a 12-month low of $70.82 and a 12-month high of $135.01. The firm has a market capitalization of $25.18 billion, a P/E ratio of 26.50, a P/E/G ratio of 4.61 and a beta of 1.23. The firm has a 50-day moving average price of $123.42 and a 200 day moving average price of $117.01. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34.

NetApp (NASDAQ:NTAP) last issued its earnings results on Wednesday, August 28th. The data storage provider reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.11. NetApp had a return on equity of 121.41% and a net margin of 17.01%. The company had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period in the prior year, the business earned $0.84 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. First Trust Advisors LP raised its position in shares of NetApp by 57.5% during the 4th quarter. First Trust Advisors LP now owns 5,643,780 shares of the data storage provider’s stock worth $497,556,000 after acquiring an additional 2,059,574 shares in the last quarter. Acadian Asset Management LLC increased its stake in NetApp by 17.5% in the second quarter. Acadian Asset Management LLC now owns 2,791,599 shares of the data storage provider’s stock valued at $359,517,000 after purchasing an additional 416,233 shares during the last quarter. Legal & General Group Plc raised its holdings in NetApp by 3.5% during the second quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock worth $309,811,000 after purchasing an additional 82,378 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of NetApp by 254.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 2,304,512 shares of the data storage provider’s stock worth $241,905,000 after buying an additional 1,654,942 shares during the last quarter. Finally, TD Asset Management Inc boosted its holdings in shares of NetApp by 26.5% in the 1st quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock valued at $225,532,000 after buying an additional 450,263 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 452 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $133.07, for a total value of $60,147.64. Following the sale, the executive vice president now owns 11,886 shares of the company’s stock, valued at approximately $1,581,670.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Cesar Cernuda sold 22,000 shares of NetApp stock in a transaction on Friday, June 28th. The shares were sold at an average price of $129.46, for a total transaction of $2,848,120.00. Following the completion of the sale, the president now directly owns 64,789 shares of the company’s stock, valued at approximately $8,387,583.94. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 452 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $133.07, for a total value of $60,147.64. Following the completion of the transaction, the executive vice president now directly owns 11,886 shares in the company, valued at approximately $1,581,670.02. The disclosure for this sale can be found here. Insiders sold 30,952 shares of company stock valued at $4,016,328 in the last three months. 0.37% of the stock is owned by corporate insiders.

NetApp announced that its Board of Directors has approved a stock buyback program on Thursday, May 30th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the data storage provider to purchase up to 4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

NetApp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Friday, October 4th will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, October 4th. This represents a $2.08 annualized dividend and a yield of 1.69%. NetApp’s payout ratio is 44.83%.

NetApp Company Profile

NetApp, Inc provides cloud-led and data-centric services to manage and share data on-premises, and private and public clouds worldwide. It operates in two segments, Hybrid Cloud and Public Could. The company offers intelligent data management software, such as NetApp ONTAP, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and storage infrastructure solutions, including NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp E/EF series, and NetApp StorageGRID.