NetApp (NASDAQ:NTAP) Updates Q3 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.85-1.95 for the period, compared to the consensus estimate of $1.85. The company issued revenue guidance of $1.61-1.76 billion, compared to the consensus revenue estimate of $1.68 billion. NetApp also updated its FY 2025 guidance to 7.200-7.400 EPS.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NTAP shares. Bank of America lifted their price objective on shares of NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a research report on Thursday, August 29th. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and boosted their price target for the stock from $121.00 to $150.00 in a research note on Tuesday, September 3rd. Barclays raised their price objective on NetApp from $116.00 to $119.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Susquehanna restated a “positive” rating and set a $155.00 price target on shares of NetApp in a report on Monday, August 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $129.06.

NetApp Price Performance

NTAP traded up $3.23 on Thursday, hitting $126.68. 4,385,619 shares of the company’s stock were exchanged, compared to its average volume of 1,823,943. The stock has a market cap 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. 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 has a fifty-two week low of $77.46 and a fifty-two week high of $135.01. The firm has a 50-day moving average price of $121.56 and a 200-day moving average price of $122.36.

NetApp (NASDAQ:NTAP) last posted its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. NetApp’s revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. As a group, equities analysts anticipate that NetApp will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.64%. NetApp’s dividend payout ratio (DPR) is 40.63%.

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of NetApp 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 legal filing with the SEC, which is accessible through the SEC website. Also, CEO George Kurian sold 8,500 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $126.11, for a total transaction of $1,071,935.00. Following the sale, the chief executive officer now owns 292,778 shares of the company’s stock, valued at approximately $36,922,233.58. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,049 shares of company stock worth $2,807,851. Corporate insiders own 0.47% of the company’s stock.

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.