NetApp (NASDAQ:NTAP) Updates Q3 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of $1.85-1.95 for the period, compared to the consensus EPS estimate of $1.85. The company issued revenue guidance of $1.61-1.76 billion, compared to the consensus revenue estimate of $1.68 billion. NetApp also updated its FY 2025 guidance to 7.200-7.400 EPS.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Bank of America boosted their target price on NetApp from $115.00 to $121.00 and gave the stock an “underperform” rating in a report on Friday. Wedbush restated a “neutral” rating and issued a $120.00 price target on shares of NetApp in a report on Friday. UBS Group boosted their price objective on shares of NetApp from $121.00 to $134.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Citigroup increased their price objective on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, NetApp presently has an average rating of “Hold” and an average price target of $134.00.

NetApp Stock Down 3.4 %

Shares of NASDAQ NTAP opened at $122.34 on Friday. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 3.26 and a beta of 1.24. NetApp has a 1 year low of $77.56 and a 1 year high of $135.45. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. The stock’s 50-day simple moving average is $121.87 and its 200-day simple moving average is $122.59.

NetApp (NASDAQ:NTAP) last announced its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.09. The company had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. NetApp had a return on equity of 119.68% and a net margin of 17.78%. NetApp’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 EPS. As a group, equities analysts anticipate that NetApp will post 5.71 earnings per share for the current fiscal year.

NetApp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.52 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.70%. NetApp’s dividend payout ratio (DPR) is 38.24%.

Insider Transactions at NetApp

In related news, CAO Lorenzo Daniel De sold 326 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.44, for a total transaction of $38,285.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas Michael Nevens sold 3,333 shares of NetApp stock in a transaction on Monday, November 18th. The stock was sold at an average price of $119.23, for a total transaction of $397,393.59. Following the completion of the transaction, the director now directly owns 9,277 shares of the company’s stock, valued at approximately $1,106,096.71. This represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,049 shares of company stock valued at $2,807,851. Insiders own 0.47% 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.