NetApp (NASDAQ:NTAP) Issues FY 2025 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY 2025 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 7.200-7.400 for the period, compared to the consensus estimate of 7.110. The company issued revenue guidance of $6.5 billion-$6.7 billion, compared to the consensus revenue estimate of $6.6 billion. NetApp also updated its FY25 guidance to $7.20-7.40 EPS.

NetApp Stock Performance

Shares of NetApp stock traded up $3.23 during trading hours on Thursday, hitting $126.68. 4,310,551 shares of the company were exchanged, compared to its average volume of 1,823,610. The business has a 50-day moving average of $121.56 and a 200-day moving average of $122.36. NetApp has a 1 year low of $77.46 and a 1 year high of $135.01. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 3.13 and a beta of 1.24.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.23 EPS. As a group, analysts expect that NetApp will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, October 4th. NetApp’s dividend payout ratio is presently 40.63%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group raised their price target on NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Evercore ISI boosted their target price on shares of NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a research report on Monday, August 12th. Oppenheimer initiated coverage on shares of NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Stifel Nicolaus boosted their price objective on shares of NetApp from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, NetApp presently has an average rating of “Hold” and an average target price of $129.06.

Insider Buying and Selling

In related news, CAO Lorenzo Daniel De sold 1,685 shares of the stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $118.00, for a total value of $1,003,000.00. Following the completion of the sale, the chief executive officer now owns 288,282 shares of the company’s stock, valued at $34,017,276. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,049 shares of company stock worth $2,807,851. 0.47% of the stock is owned by insiders.

About NetApp

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.