NetApp (NASDAQ:NTAP) Updates Q2 2027 Earnings Guidance

Posted by Brian Himes on Sep 2nd, 2026

NetApp (NASDAQ:NTAP – Get Free Report) updated its second quarter 2027 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.540-2.640 for the period, compared to the consensus earnings per share estimate of 2.080. The company issued revenue guidance of $2.0 billion-$2.2 billion, compared to the consensus revenue estimate of $1.8 billion. NetApp also updated its FY 2027 guidance to 9.730-10.030 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Barclays increased their price target on NetApp from $120.00 to $199.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Wall Street Zen downgraded NetApp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 29th. UBS Group reiterated a “neutral” rating and issued a $160.00 price objective on shares of NetApp in a research note on Friday, May 29th. Morgan Stanley raised NetApp from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $137.00 to $173.00 in a research report on Monday, August 10th. Finally, Northland Securities raised their price objective on shares of NetApp from $137.00 to $171.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Five research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $184.08.

Read Our Latest Analysis on NetApp

NetApp Price Performance

NetApp stock traded down $2.39 during trading hours on Wednesday, hitting $180.77. 3,700,485 shares of the stock were exchanged, compared to its average volume of 2,689,264. The business’s 50-day moving average is $176.95 and its two-hundred day moving average is $139.38. NetApp has a 12 month low of $93.69 and a 12 month high of $209.06. The stock has a market capitalization of $35.47 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.30 and a beta of 1.45. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.39 and a current ratio of 1.44.

NetApp (NASDAQ:NTAP – Get Free Report) last announced its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.12 by $0.46. NetApp had a return on equity of 117.23% and a net margin of 18.43%.The company had revenue of $2.02 billion for 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. Equities research analysts expect that NetApp will post 7.34 EPS for the current fiscal year.

Insider Buying and Selling at NetApp

In other NetApp news, President Cesar Cernuda sold 49,464 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $154.82, for a total transaction of $7,658,016.48. Following the transaction, the president owned 46,806 shares of the company’s stock, valued at approximately $7,246,504.92. This represents a 51.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $193.82, for a total value of $193,820.00. Following the completion of the transaction, the executive vice president owned 30,297 shares in the company, valued at $5,872,164.54. The trade was a 3.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 55,072 shares of company stock worth $8,719,520. Company insiders own 0.36% of the company’s stock.

Institutional Investors Weigh In On NetApp

Several institutional investors have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in shares of NetApp by 38.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 759 shares of the data storage provider’s stock valued at $67,000 after purchasing an additional 210 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of NetApp during the second quarter worth $315,000. Cerity Partners LLC increased its holdings in NetApp by 9.9% in the second quarter. Cerity Partners LLC now owns 46,792 shares of the data storage provider’s stock valued at $4,986,000 after purchasing an additional 4,232 shares during the last quarter. Bank of Nova Scotia increased its holdings in NetApp by 7.3% in the second quarter. Bank of Nova Scotia now owns 24,301 shares of the data storage provider’s stock valued at $2,589,000 after purchasing an additional 1,662 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in NetApp by 12.7% in the second quarter. NewEdge Advisors LLC now owns 20,161 shares of the data storage provider’s stock valued at $2,148,000 after buying an additional 2,277 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

About NetApp

(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.