Wedbush Forecasts NetApp’s Q2 Earnings (NASDAQ:NTAP)

NetApp, Inc. (NASDAQ:NTAP) – Equities research analysts at Wedbush lifted their Q2 2027 earnings per share estimates for shares of NetApp in a note issued to investors on Wednesday, November 26th. Wedbush analyst M. Bryson now expects that the data storage provider will post earnings of $1.69 per share for the quarter, up from their previous estimate of $1.68. Wedbush currently has a “Neutral” rating and a $110.00 target price on the stock. The consensus estimate for NetApp’s current full-year earnings is $5.89 per share. Wedbush also issued estimates for NetApp’s Q4 2027 earnings at $1.87 EPS.

Other equities research analysts have also recently issued research reports about the stock. Northland Capmk raised shares of NetApp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 26th. Citigroup decreased their price objective on NetApp from $130.00 to $125.00 and set a “neutral” rating for the company in a report on Wednesday, November 12th. Oppenheimer restated a “market perform” rating on shares of NetApp in a research note on Wednesday. Bank of America upped their target price on NetApp from $125.00 to $129.00 and gave the company a “neutral” rating in a research report on Wednesday, November 26th. Finally, UBS Group raised their price target on NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, NetApp currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.07.

NetApp Stock Up 2.2%

NASDAQ:NTAP opened at $111.61 on Monday. The company’s 50-day simple moving average is $115.50 and its 200-day simple moving average is $110.39. 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 $131.30. The stock has a market capitalization of $22.10 billion, a P/E ratio of 19.72, a P/E/G ratio of 2.48 and a beta of 1.46.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a return on equity of 123.24% and a net margin of 17.77%.The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.87 earnings per share. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS. Q3 2026 guidance at 2.010-2.110 EPS.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Shareholders of record on Friday, January 2nd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, January 2nd. NetApp’s payout ratio is presently 36.17%.

Insider Buying and Selling at NetApp

In related news, CEO George Kurian sold 8,750 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $122.91, for a total value of $1,075,462.50. Following the transaction, the chief executive officer owned 274,938 shares in the company, valued at approximately $33,792,629.58. This represents a 3.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $119.00, for a total transaction of $119,000.00. Following the transaction, the executive vice president directly owned 22,628 shares of the company’s stock, valued at $2,692,732. This represents a 4.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 12,183 shares of company stock worth $1,483,361. 0.28% of the stock is currently owned by insiders.

Institutional Trading of NetApp

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of NetApp by 2.5% during the second quarter. Vanguard Group Inc. now owns 27,728,118 shares of the data storage provider’s stock worth $2,954,431,000 after purchasing an additional 686,188 shares during the last quarter. Geode Capital Management LLC grew its position in NetApp by 16.8% during the 2nd quarter. Geode Capital Management LLC now owns 7,112,316 shares of the data storage provider’s stock worth $756,665,000 after purchasing an additional 1,024,626 shares during the period. Ameriprise Financial Inc. raised its stake in shares of NetApp by 1.0% during the 1st quarter. Ameriprise Financial Inc. now owns 7,096,679 shares of the data storage provider’s stock valued at $623,383,000 after buying an additional 72,223 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of NetApp by 17.1% during 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 during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of NetApp by 18.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,546,548 shares of the data storage provider’s stock valued at $311,529,000 after buying an additional 560,218 shares during the period. 92.17% of the stock is owned by hedge funds and other institutional investors.

NetApp Company Profile

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.