NetApp (NASDAQ:NTAP) Issues Q4 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its fourth quarter 2026 earnings guidance on Thursday morning. The company provided EPS guidance of 2.210-2.310 for the period, compared to the consensus EPS estimate of 2.080. The company issued revenue guidance of $1.8 billion-$1.9 billion, compared to the consensus revenue estimate of $1.8 billion. NetApp also updated its FY 2026 guidance to 7.920-8.020 EPS.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NTAP. Wedbush reissued a “neutral” rating and set a $115.00 price objective on shares of NetApp in a research report on Wednesday. UBS Group lifted their price target on shares of NetApp from $114.00 to $120.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Barclays boosted their price objective on shares of NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 26th. Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.21.

NetApp Stock Performance

Shares of NTAP stock traded down $2.74 during trading hours on Thursday, reaching $99.14. 3,815,472 shares of the company traded hands, compared to its average volume of 2,508,811. The firm has a 50-day moving average price of $103.62 and a 200 day moving average price of $111.40. The company has a market cap of $19.64 billion, a P/E ratio of 17.24, a P/E/G ratio of 3.46 and a beta of 1.38. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. NetApp has a 12-month low of $71.84 and a 12-month high of $126.66.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.17. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.87 earnings per share. As a group, sell-side analysts predict that NetApp will post 5.89 earnings per share for the current fiscal year.

Insider Activity at NetApp

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the transaction, the executive vice president owned 20,075 shares in the company, valued at $2,076,758.75. The trade was a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.28% of the stock is owned by insiders.

Trending Headlines about NetApp

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Quarterly results beat: NetApp reported EPS of $2.12 vs. $2.07 consensus and revenue of $1.71B vs. ~$1.70B expected — the company continues to deliver steady top- and bottom-line execution. Press Release
• Positive Sentiment: Raised guidance: NetApp lifted FY‑2026 EPS guidance to $7.920–8.020 (consensus ~7.29) and Q4 EPS to $2.210–2.310 (consensus ~2.08); revenue guidance was modestly above consensus — a material beat on forward numbers that should support valuation multiple expansion. Slide Deck
• Neutral Sentiment: Analyst stance mixed: Wedbush reaffirmed a “neutral” rating with a $115 target (some upside vs. current levels), reflecting cautious optimism rather than an immediate buy signal for momentum investors. Wedbush Note
• Neutral Sentiment: Pre-earnings coverage and previews framed expectations conservatively, which likely reduced surprise elasticity despite the beat — many investors already priced in cautious expectations. Earnings Preview
• Negative Sentiment: Strategic transition risk: coverage is questioning whether NetApp’s shift toward AI-focused cloud subscriptions alters its investment case — that transition (and pace of subscription adoption) creates execution risk and investor uncertainty. AI Strategy Article
• Negative Sentiment: Competitive/market comparisons: analysts and blogs are contrasting NetApp with peers (e.g., Seagate) that are benefiting from AI-driven HDD demand and momentum — that relative story can pressure NTAP multiple and sentiment. Seagate vs NetApp

Institutional Trading of NetApp

A number of large investors have recently modified their holdings of the company. Sivia Capital Partners LLC acquired a new stake in shares of NetApp during the second quarter worth about $315,000. B. Riley Wealth Advisors Inc. purchased a new position in NetApp during the 2nd quarter worth approximately $203,000. Litman Gregory Wealth Management LLC acquired a new stake in NetApp during the 4th quarter valued at approximately $194,000. Ancora Advisors LLC lifted its stake in NetApp by 1,759.3% during the 3rd quarter. Ancora Advisors LLC now owns 1,004 shares of the data storage provider’s stock valued at $119,000 after acquiring an additional 950 shares during the period. Finally, Transamerica Financial Advisors LLC boosted its holdings in shares of NetApp by 16.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 833 shares of the data storage provider’s stock valued at $89,000 after acquiring an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 92.17% of the company’s stock.

NetApp Company Profile

NetApp, Inc (NASDAQ: NTAP) is a data management and storage company that delivers hybrid cloud data services for applications and data. Founded in 1992 as Network Appliance and rebranded as NetApp in 2008, the company is headquartered in Sunnyvale, California. NetApp’s offering focuses on enabling organizations to store, manage, protect and move data across on-premises environments and major public clouds.

The company’s product portfolio centers on the ONTAP data management software and a range of storage systems and services built around it.