NetApp (NASDAQ:NTAP) Announces Earnings Results

NetApp (NASDAQ:NTAP) released its quarterly earnings data on Tuesday. The data storage provider reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 Stock Up 2.3%

Shares of NTAP stock traded up $2.52 during trading hours on Tuesday, hitting $111.48. 3,511,683 shares of the company’s stock traded hands, compared to its average volume of 2,050,726. The company has a quick ratio of 1.28, a current ratio of 1.31 and a debt-to-equity ratio of 2.55. The stock’s fifty day simple moving average is $116.64 and its two-hundred day simple moving average is $110.04. NetApp has a 12-month low of $71.84 and a 12-month high of $131.30. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 2.48 and a beta of 1.46.

NetApp Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NTAP. Oppenheimer started coverage on NetApp in a report on Monday, November 17th. They set a “market perform” rating for the company. William Blair restated a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Citigroup dropped their target price on shares of NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of NetApp in a research note on Wednesday, October 8th. Finally, Bank of America increased their price target on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research note on Monday, August 25th. Six investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $120.43.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total value of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares of the company’s stock, valued at approximately $2,922,074.76. This trade represents a 4.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO George Kurian sold 8,750 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the transaction, the chief executive officer owned 274,938 shares of the company’s stock, valued at $33,792,629.58. This represents a 3.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,183 shares of company stock valued at $1,483,361 in the last 90 days. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On NetApp

Hedge funds have recently bought and sold shares of the business. Sivia Capital Partners LLC bought a new position in NetApp during the 2nd quarter valued at about $315,000. Geneos Wealth Management Inc. raised its holdings in shares of NetApp by 38.3% during the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after purchasing an additional 210 shares during the last quarter. Financial Advisors Network Inc. raised its holdings in shares of NetApp by 16.1% during the second quarter. Financial Advisors Network Inc. now owns 43,113 shares of the data storage provider’s stock valued at $4,594,000 after purchasing an additional 5,975 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in NetApp during the second quarter valued at approximately $20,255,000. Finally, Canada Pension Plan Investment Board boosted its holdings in NetApp by 29.8% in the second quarter. Canada Pension Plan Investment Board now owns 300,751 shares of the data storage provider’s stock worth $32,045,000 after purchasing an additional 69,129 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

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.