NetApp (NASDAQ:NTAP) Announces Earnings Results, Beats Estimates By $0.16 EPS

by · The Markets Daily

NetApp (NASDAQ:NTAP – Get Free Report) posted its quarterly earnings data on Tuesday. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.16, FiscalAI reports. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.69 billion. NetApp updated its FY 2026 guidance to 7.750-8.050 EPS and its Q3 2026 guidance to 2.010-2.110 EPS.

NetApp Trading Up 2.3%

NTAP traded up $2.52 on Tuesday, hitting $111.48. The company had a trading volume of 3,570,215 shares, compared to its average volume of 2,055,136. The company’s fifty day moving average price is $116.64 and its 200 day moving average price is $110.04. NetApp has a 1 year low of $71.84 and a 1 year high of $131.30. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The firm has a market cap of $22.25 billion, a P/E ratio of 19.70, a PEG ratio of 2.48 and a beta of 1.46.

NetApp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is presently 36.75%.

Wall Street Analyst Weigh In

Several brokerages recently commented on NTAP. UBS Group boosted their price target on shares of NetApp from $108.00 to $114.00 and gave the stock a “neutral” rating in a report on Thursday, August 28th. Morgan Stanley set a $117.00 price target on shares of NetApp in a research note on Thursday, August 28th. Bank of America boosted their price objective on NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Barclays raised their target price on NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, August 28th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $110.00 price target on shares of NetApp in a research note on Friday, October 10th. Six equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $120.43.

Check Out Our Latest Analysis on NTAP

Insider Buying and Selling at NetApp

In other news, CAO Lorenzo Daniel De sold 327 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total value of $35,145.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total transaction of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,183 shares of company stock worth $1,483,361 over the last three months. Insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On NetApp

Institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership lifted its stake in NetApp by 94.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after acquiring an additional 886,485 shares in the last quarter. AQR Capital Management LLC increased its stake in NetApp by 71.6% during the third quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after purchasing an additional 771,835 shares during the period. Wellington Management Group LLP lifted its position in shares of NetApp by 17.1% during the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock worth $582,296,000 after purchasing an additional 718,409 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of NetApp by 83.0% in the second quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock valued at $164,568,000 after purchasing an additional 700,467 shares during the period. Finally, Boston Partners grew its holdings in shares of NetApp by 12.6% in the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock valued at $393,027,000 after purchasing an additional 370,405 shares in the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

About NetApp

(Get Free Report)

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.

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