NetApp (NASDAQ:NTAP) Releases FY 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its FY 2026 earnings guidance on Tuesday morning. The company provided EPS guidance of 7.750-8.050 for the period, compared to the consensus EPS 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 Trading Up 2.3%

Shares of NASDAQ:NTAP traded up $2.52 during trading on Tuesday, reaching $111.48. The company’s stock had a trading volume of 3,576,621 shares, compared to its average volume of 2,055,136. The stock has a market capitalization of $22.25 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46. NetApp has a 12 month low of $71.84 and a 12 month high of $131.30. The company has a current ratio of 1.31, a quick ratio of 1.28 and a debt-to-equity ratio of 2.55. The firm’s 50 day simple moving average is $116.64 and its two-hundred day simple moving average is $110.04.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.16. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The business 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 EPS for the current fiscal year.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. William Blair reiterated a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Argus reiterated a “buy” rating and set a $130.00 target price on shares of NetApp in a report on Friday, August 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of NetApp in a research report on Wednesday, October 8th. Citigroup lowered 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. Finally, UBS Group increased their price objective on shares of NetApp from $108.00 to $114.00 and gave the company a “neutral” rating in a research note on Thursday, August 28th. Six analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, NetApp currently has an average rating of “Hold” and an average price target of $120.43.

Insider Activity at NetApp

In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction dated Wednesday, September 10th. The stock was sold at an average price of $123.67, for a total transaction of $123,670.00. Following the completion of the sale, the executive vice president owned 23,628 shares of the company’s stock, valued at $2,922,074.76. The trade was a 4.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $121.87, for a total value of $94,936.73. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,183 shares of company stock valued at $1,483,361 in the last ninety days. Company insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NTAP. Wellington Management Group LLP lifted its stake in NetApp by 17.1% in the 3rd quarter. Wellington Management Group LLP now owns 4,915,553 shares of the data storage provider’s stock valued at $582,296,000 after buying an additional 718,409 shares in the last quarter. Boston Partners raised its holdings in shares of NetApp by 12.6% during the third quarter. Boston Partners now owns 3,317,605 shares of the data storage provider’s stock valued at $393,027,000 after acquiring an additional 370,405 shares during the last quarter. Northern Trust Corp lifted its position in shares of NetApp by 1.0% in the third quarter. Northern Trust Corp now owns 2,903,077 shares of the data storage provider’s stock valued at $343,899,000 after acquiring an additional 29,871 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of NetApp by 71.6% in the third quarter. AQR Capital Management LLC now owns 1,849,218 shares of the data storage provider’s stock valued at $219,058,000 after acquiring an additional 771,835 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of NetApp by 94.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,823,292 shares of the data storage provider’s stock worth $215,987,000 after acquiring an additional 886,485 shares during the last quarter. Institutional investors and hedge funds own 92.17% 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.