NetApp (NASDAQ:NTAP) Releases FY 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY 2026 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 7.750-8.050 for the period, compared to the consensus estimate of 7.150. The company issued revenue guidance of $6.6 billion-$6.9 billion, compared to the consensus revenue estimate of $6.8 billion. NetApp also updated its Q3 2026 guidance to 2.010-2.110 EPS.

NetApp Stock Up 2.3%

Shares of NASDAQ:NTAP traded up $2.52 during trading on Tuesday, hitting $111.48. 3,511,683 shares of the company were exchanged, compared to its average volume of 2,050,726. The stock has a market capitalization of $22.25 billion, a P/E ratio of 19.70, a PEG ratio of 2.48 and a beta of 1.46. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. NetApp has a 12-month low of $71.84 and a 12-month high of $131.30. The firm’s 50 day moving average price is $116.64 and its 200-day moving average price is $110.04.

NetApp (NASDAQ:NTAP) last posted its earnings results on Tuesday, November 25th. The data storage provider reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.16. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS. On average, research analysts predict that NetApp will post 5.89 earnings per share for the current fiscal year.

NetApp Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NTAP shares. Morgan Stanley set a $117.00 price target on NetApp in a research note on Thursday, August 28th. Bank of America raised their target price on shares of NetApp from $121.00 to $125.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Citigroup reduced their price target 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. Wedbush reissued a “neutral” rating and set a $110.00 price objective on shares of NetApp in a research report on Friday, October 10th. Finally, Oppenheimer assumed coverage on shares of NetApp in a report on Monday, November 17th. They issued a “market perform” rating for the company. Six analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $120.43.

Insider Buying and Selling

In other NetApp news, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO George Kurian sold 8,750 shares of the company’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the completion of the sale, the chief executive officer directly owned 274,938 shares in the company, valued at $33,792,629.58. This trade represents a 3.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 12,183 shares of company stock valued at $1,483,361. 0.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTAP. Measured Wealth Private Client Group LLC acquired a new stake in NetApp during the third quarter worth about $35,000. Sunbelt Securities Inc. grew its holdings in shares of NetApp by 92.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 480 shares of the data storage provider’s stock worth $57,000 after purchasing an additional 231 shares during the period. MUFG Securities EMEA plc acquired a new stake in NetApp during the 2nd quarter worth approximately $64,000. Geneos Wealth Management Inc. raised its holdings in NetApp by 38.3% in the first quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after buying an additional 210 shares during the period. Finally, Ancora Advisors LLC lifted its position in NetApp by 1,759.3% during the third quarter. Ancora Advisors LLC now owns 1,004 shares of the data storage provider’s stock valued at $119,000 after buying an additional 950 shares in the last quarter. Institutional investors and hedge funds own 92.17% 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.