Northland Capmk Issues Negative Outlook for NetApp Earnings

NetApp, Inc. (NASDAQ:NTAP) – Research analysts at Northland Capmk reduced their Q2 2026 earnings estimates for shares of NetApp in a research note issued to investors on Thursday, August 28th. Northland Capmk analyst N. Chokshi now expects that the data storage provider will earn $1.48 per share for the quarter, down from their previous forecast of $1.50. The consensus estimate for NetApp’s current full-year earnings is $5.89 per share. Northland Capmk also issued estimates for NetApp’s Q4 2026 earnings at $1.90 EPS, Q1 2027 earnings at $1.58 EPS and Q2 2027 earnings at $1.73 EPS.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Thursday, May 29th. The data storage provider reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.03. NetApp had a net margin of 17.77% and a return on equity of 123.24%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the business posted $1.80 earnings per share. NetApp’s quarterly revenue was up 3.8% on a year-over-year basis.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. upped their price objective on NetApp from $115.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Citigroup upped their price target on NetApp from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Argus reiterated a “buy” rating and issued a $130.00 price objective on shares of NetApp in a research report on Friday. Barclays boosted their price objective on shares of NetApp from $117.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wells Fargo & Company reduced their target price on shares of NetApp from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. Seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $124.07.

NetApp Price Performance

Shares of NTAP opened at $112.79 on Monday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 1.28 and a current ratio of 1.31. NetApp has a fifty-two week low of $71.84 and a fifty-two week high of $135.45. The firm has a 50-day simple moving average of $106.77 and a 200-day simple moving average of $99.95. The company has a market capitalization of $22.52 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 2.48 and a beta of 1.46.

NetApp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Friday, October 3rd. NetApp’s dividend payout ratio (DPR) is currently 36.75%.

Insider Activity at NetApp

In other NetApp news, CEO George Kurian sold 8,500 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $108.85, for a total value of $925,225.00. Following the completion of the transaction, the chief executive officer directly owned 283,688 shares of the company’s stock, valued at approximately $30,879,438.80. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of NetApp stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $105.90, for a total transaction of $105,900.00. Following the sale, the executive vice president owned 23,251 shares of the company’s stock, valued at approximately $2,462,280.90. The trade was a 4.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,802 shares of company stock worth $2,951,604 over the last 90 days. Company insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On NetApp

Hedge funds have recently bought and sold shares of the company. Cypress Capital Advisors LLC boosted its position in NetApp by 129.1% during the second quarter. Cypress Capital Advisors LLC now owns 9,834 shares of the data storage provider’s stock worth $1,048,000 after purchasing an additional 5,542 shares in the last quarter. Orion Porfolio Solutions LLC raised its stake in shares of NetApp by 35.9% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 9,589 shares of the data storage provider’s stock worth $1,022,000 after buying an additional 2,533 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in shares of NetApp in the 2nd quarter worth about $1,603,000. Stance Capital LLC acquired a new stake in NetApp in the 2nd quarter valued at about $2,438,000. Finally, Cim Investment Management Inc. increased its holdings in NetApp by 99.6% during the 2nd quarter. Cim Investment Management Inc. now owns 13,102 shares of the data storage provider’s stock valued at $1,459,000 after acquiring an additional 6,538 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.

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.