NetApp (NASDAQ:NTAP) Updates FY 2027 Earnings Guidance

Posted by Geri Gentry on Sep 2nd, 2026

NetApp (NASDAQ:NTAP – Get Free Report) issued an update on its FY 2027 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 9.730-10.030 for the period, compared to the consensus EPS estimate of 8.680. The company issued revenue guidance of $8.0 billion-$8.2 billion, compared to the consensus revenue estimate of $7.5 billion. NetApp also updated its Q2 2027 guidance to 2.540-2.640 EPS.

NetApp Stock Down 1.3%

Shares of NetApp stock traded down $2.39 during trading on Wednesday, reaching $180.77. The stock had a trading volume of 3,853,626 shares, compared to its average volume of 2,696,395. The company has a current ratio of 1.44, a quick ratio of 1.39 and a debt-to-equity ratio of 1.84. NetApp has a 52 week low of $93.69 and a 52 week high of $209.06. The company has a market capitalization of $35.47 billion, a price-to-earnings ratio of 28.42, a P/E/G ratio of 3.30 and a beta of 1.45. The stock has a fifty day moving average price of $176.95 and a two-hundred day moving average price of $139.38.

NetApp (NASDAQ:NTAP – Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. NetApp had a net margin of 18.43% and a return on equity of 117.23%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Sell-side analysts predict that NetApp will post 7.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Northland Securities raised their price objective on NetApp from $137.00 to $171.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. The Goldman Sachs Group reiterated a “buy” rating and set a $200.00 price target on shares of NetApp in a report on Tuesday, June 2nd. Weiss Ratings raised shares of NetApp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Barclays boosted their price objective on shares of NetApp from $120.00 to $199.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Finally, Argus upped their price objective on shares of NetApp from $130.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, NetApp currently has an average rating of “Hold” and an average price target of $184.08.

Read Our Latest Stock Analysis on NTAP

Insider Activity at NetApp

In other news, President Cesar Cernuda sold 2,608 shares of NetApp stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $204.48, for a total transaction of $533,283.84. Following the sale, the president owned 46,530 shares of the company’s stock, valued at approximately $9,514,454.40. This trade represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction on Monday, August 10th. The stock was sold at an average price of $193.82, for a total transaction of $193,820.00. Following the sale, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. This represents a 3.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 55,072 shares of company stock worth $8,719,520 in the last three months. 0.36% of the stock is owned by insiders.

Key Headlines Impacting NetApp

Here are the key news stories impacting NetApp this week:

Positive Sentiment: Quarterly results exceeded expectations. NetApp reported adjusted earnings of $2.58 per share, $0.46 above the consensus estimate, while revenue reached approximately $2.02 billion versus expectations of $1.84 billion. The company also posted an 18.43% net margin and 117.23% return on equity. NetApp quarterly earnings press release
Positive Sentiment: Management issued guidance above analyst forecasts. NetApp expects second-quarter fiscal 2027 EPS of $2.54-$2.64 and revenue of $2.0-$2.2 billion, compared with consensus estimates of $2.08 and $1.8 billion. Full-year fiscal 2027 guidance calls for EPS of $9.73-$10.03 and revenue of $8.0-$8.2 billion, also above consensus estimates of $8.68 and $7.5 billion.
Positive Sentiment: Technical and analyst commentary was supportive. A hammer chart pattern was viewed as a potential sign of technical support, while upward earnings-estimate revisions could signal a near-term reversal. Bank of America also forecast strong appreciation potential for NTAP. Zacks NetApp technical analysis
Neutral Sentiment: Brokerage expectations were broadly close to the market price. The reported average analyst price target was $179.77, indicating limited near-term upside based on that measure, although individual analysts may be more bullish.
Negative Sentiment: The muted stock reaction may reflect elevated expectations. NTAP trades near its 12-month high and at a relatively demanding valuation, with a reported price-to-earnings ratio of 28.42. Investors may have used the earnings event to lock in gains even though the results and outlook surpassed consensus.

Hedge Funds Weigh In On NetApp

Several institutional investors have recently added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new stake in NetApp in the second quarter worth about $315,000. Scientech Research LLC bought a new position in NetApp in the third quarter valued at approximately $704,000. CIBC Private Wealth Group LLC grew its holdings in NetApp by 10.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,675 shares of the data storage provider’s stock worth $554,000 after acquiring an additional 455 shares during the period. Focused Alpha LLC bought a new position in NetApp during the 4th quarter worth approximately $452,000. Finally, nVerses Capital LLC bought a new stake in NetApp in the fourth quarter valued at approximately $435,000. 92.17% of the stock is owned by institutional investors.

NetApp Company Profile

(Get Free Report)

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.