NetApp (NASDAQ:NTAP) Releases FY25 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY25 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.20-7.40 for the period, compared to the consensus estimate of $7.11. The company issued revenue guidance of $6.54-6.74 billion, compared to the consensus revenue estimate of $6.60 billion. NetApp also updated its Q3 guidance to $1.85-1.95 EPS.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of NetApp from $146.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their price objective on NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Evercore ISI lifted their price objective on NetApp from $120.00 to $130.00 and gave the stock an “in-line” rating in a report on Monday, August 12th. Susquehanna reaffirmed a “positive” rating and set a $155.00 target price on shares of NetApp in a report on Monday, August 26th. Finally, Bank of America lifted their target price on NetApp from $105.00 to $110.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $129.06.

NetApp Trading Up 2.6 %

Shares of NTAP stock traded up $3.23 on Thursday, reaching $126.68. 4,096,012 shares of the company’s stock were exchanged, compared to its average volume of 1,822,661. NetApp has a 52 week low of $77.46 and a 52 week 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 PE ratio of 24.11, a P/E/G ratio of 3.13 and a beta of 1.24. The company’s fifty day simple moving average is $121.56 and its 200 day simple moving average is $122.36.

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

NetApp Dividend Announcement

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

Insider Activity

In other NetApp news, Director Thomas Michael Nevens sold 3,333 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $119.23, for a total value of $397,393.59. Following the sale, the director now directly owns 9,277 shares in the company, valued at $1,106,096.71. This trade represents a 26.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $208,266.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,049 shares of company stock worth $2,807,851. 0.47% of the stock is currently owned by company 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.