NetApp (NTAP) to Release Earnings on Wednesday

NetApp (NASDAQ:NTAP) is expected to issue its Q1 2027 results after the market closes on Wednesday, September 2nd. Analysts expect the company to post earnings of $2.12 per share and revenue of $1.8360 billion for the quarter. Investors can check the company’s upcoming Q1 2027 earning overview page for the latest details on the call scheduled for Wednesday, September 2, 2026 at 5:30 PM ET.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Thursday, May 28th. The data storage provider reported $2.03 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.24). The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.87 billion. NetApp had a net margin of 18.43% and a return on equity of 117.23%. NetApp’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 earnings per share. On average, analysts expect NetApp to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

NetApp Stock Performance

Shares of NTAP opened at $187.02 on Monday. NetApp has a 1-year low of $93.69 and a 1-year high of $209.06. The company has a market capitalization of $36.70 billion, a P/E ratio of 29.41, a P/E/G ratio of 3.33 and a beta of 1.45. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.44 and a quick ratio of 1.39. The firm’s 50 day simple moving average is $175.90 and its 200 day simple moving average is $138.27.

Insiders Place Their Bets

In other NetApp news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $193.82, for a total transaction of $193,820.00. Following the completion of the sale, the executive vice president directly owned 30,297 shares in the company, valued at $5,872,164.54. This represents a 3.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Cesar Cernuda sold 49,464 shares of the firm’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president directly owned 46,806 shares in the company, valued at $7,246,504.92. This trade represents a 51.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 55,072 shares of company stock worth $8,719,520. 0.36% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NetApp

Several institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership grew its stake in NetApp by 94.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock valued at $215,987,000 after acquiring an additional 886,485 shares during the period. AQR Capital Management LLC boosted its stake in NetApp by 71.6% during the third quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock worth $219,058,000 after buying an additional 771,835 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of NetApp by 17.1% in the third quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after purchasing an additional 718,409 shares during the period. Bank of America Corp DE increased its holdings in shares of NetApp by 83.0% during the 2nd quarter. Bank of America Corp DE now owns 1,544,513 shares of the data storage provider’s stock worth $164,568,000 after buying an additional 700,467 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of NetApp by 17.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,127,533 shares of the data storage provider’s stock valued at $442,018,000 after purchasing an additional 611,003 shares during the last quarter. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTAP has been the subject of a number of research analyst reports. Northland Securities lifted their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Argus raised their price target on NetApp from $130.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 1st. Weiss Ratings raised NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Citigroup upped their price objective on NetApp from $150.00 to $209.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. Finally, UBS Group reiterated a “neutral” rating and set a $160.00 price objective on shares of NetApp in a research report on Friday, May 29th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, NetApp presently has a consensus rating of “Hold” and a consensus price target of $179.77.

About NetApp

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.