FY2026 EPS Estimates for NetApp, Inc. (NASDAQ:NTAP) Lifted by Analyst

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

A number of other analysts have also recently commented on NTAP. Argus lifted their target price on shares of NetApp from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Citigroup lifted their price objective on shares of NetApp from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Wedbush reissued a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research report on Monday, August 26th. TD Cowen raised their target price on NetApp from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Finally, Barclays boosted their price target on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $129.06.

NetApp Trading Up 0.0 %

NetApp stock opened at $122.95 on Wednesday. NetApp has a one year low of $70.82 and a one year high of $135.01. The stock has a market cap of $25.18 billion, a PE ratio of 26.50, a price-to-earnings-growth ratio of 4.61 and a beta of 1.23. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. The stock has a 50-day moving average of $123.42 and a two-hundred day moving average of $117.01.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NTAP. First Trust Advisors LP raised its holdings in shares of NetApp by 57.5% during the fourth quarter. First Trust Advisors LP now owns 5,643,780 shares of the data storage provider’s stock valued at $497,556,000 after acquiring an additional 2,059,574 shares during the last quarter. Acadian Asset Management LLC raised its stake in NetApp by 17.5% in the 2nd 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 lifted its holdings in NetApp by 3.5% in the 2nd quarter. Legal & General Group Plc now owns 2,405,363 shares of the data storage provider’s stock valued at $309,811,000 after purchasing an additional 82,378 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in 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 purchasing an additional 1,654,942 shares during the last quarter. Finally, TD Asset Management Inc grew its holdings in shares of NetApp by 26.5% during the first quarter. TD Asset Management Inc now owns 2,148,540 shares of the data storage provider’s stock worth $225,532,000 after buying an additional 450,263 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NetApp

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

NetApp Dividend Announcement

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

NetApp announced that its Board of Directors has approved a share buyback plan on Thursday, May 30th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the data storage provider to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.