NetApp (NASDAQ:NTAP) Updates FY25 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY25 earnings guidance on Thursday. The company provided earnings per share guidance of $7.20-7.40 for the period, compared to the consensus earnings per share estimate of $7.11. The company issued revenue guidance of $6.54-6.74 billion, compared to the consensus revenue estimate of $6.60 billion. NetApp also updated its FY 2025 guidance to 7.200-7.400 EPS.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NTAP. Susquehanna reissued a “positive” rating and set a $155.00 price target on shares of NetApp in a report on Monday, August 26th. Wells Fargo & Company upped their target price on shares of NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday. Wedbush restated a “neutral” rating and issued a $120.00 price target on shares of NetApp in a research note on Friday. TD Cowen boosted their price objective on NetApp from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Stifel Nicolaus raised their target price on NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $134.00.

NetApp Price Performance

Shares of NetApp stock opened at $122.34 on Friday. NetApp has a 52 week low of $77.56 and a 52 week high of $135.45. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The stock has a market cap of $25.05 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 3.26 and a beta of 1.24. The company’s 50-day moving average price is $121.87 and its two-hundred day moving average price is $122.49.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 119.68%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.23 EPS. As a group, sell-side analysts anticipate that NetApp will post 5.71 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Insider Transactions at NetApp

In other news, CAO Lorenzo Daniel De sold 1,685 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $123.60, for a total transaction of $208,266.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas Michael Nevens sold 3,333 shares of the firm’s stock in a transaction that occurred 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 $1,106,096.71. This represents a 26.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,049 shares of company stock valued at $2,807,851 over the last three months. Company 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.