What is Zacks Research’s Estimate for NetApp Q3 Earnings?

NetApp, Inc. (NASDAQ:NTAP) – Zacks Research raised their Q3 2026 earnings per share (EPS) estimates for NetApp in a research note issued on Tuesday, December 16th. Zacks Research analyst Team now expects that the data storage provider will earn $1.67 per share for the quarter, up from their previous estimate of $1.64. The consensus estimate for NetApp’s current full-year earnings is $5.89 per share. Zacks Research also issued estimates for NetApp’s Q4 2026 earnings at $1.84 EPS, FY2026 earnings at $6.37 EPS, Q1 2027 earnings at $1.42 EPS, Q2 2027 earnings at $1.69 EPS, Q3 2027 earnings at $1.66 EPS, Q4 2027 earnings at $1.92 EPS, FY2027 earnings at $6.68 EPS, Q1 2028 earnings at $1.69 EPS, Q2 2028 earnings at $1.85 EPS and FY2028 earnings at $7.42 EPS.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.17. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.69 billion. NetApp had a net margin of 17.73% and a return on equity of 121.28%. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.87 earnings per share. NetApp has set its FY 2026 guidance at 7.750-8.050 EPS and its Q3 2026 guidance at 2.010-2.110 EPS.

A number of other research firms also recently weighed in on NTAP. Northland Capmk upgraded NetApp from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 26th. Morgan Stanley set a $117.00 price objective on NetApp in a report on Thursday, August 28th. Oppenheimer reaffirmed a “market perform” rating on shares of NetApp in a report on Wednesday, November 26th. William Blair reissued a “market perform” rating on shares of NetApp in a report on Thursday, October 16th. Finally, Northland Securities set a $137.00 price objective on shares of NetApp and gave the stock an “outperform” rating in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, NetApp currently has a consensus rating of “Moderate Buy” and an average target price of $124.07.

NetApp Trading Up 1.3%

NetApp stock opened at $111.90 on Friday. NetApp has a 12-month low of $71.84 and a 12-month high of $127.78. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a market capitalization of $22.16 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 2.44 and a beta of 1.42. The firm has a 50 day simple moving average of $114.00 and a 200-day simple moving average of $111.85.

NetApp Announces Dividend

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

Insider Activity at NetApp

In other news, CAO Lorenzo Daniel De sold 779 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $121.87, for a total transaction of $94,936.73. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $119.00, for a total transaction of $119,000.00. Following the completion of the sale, the executive vice president owned 22,628 shares of the company’s stock, valued at approximately $2,692,732. This trade represents a 4.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 2,433 shares of company stock worth $284,229. 0.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NTAP. Keel Point LLC purchased a new stake in NetApp in the 3rd quarter worth about $229,000. Hudson Bay Capital Management LP acquired a new position in shares of NetApp in the 3rd quarter valued at about $251,000. Saranac Partners Ltd purchased a new stake in shares of NetApp in the third quarter worth approximately $113,000. Strategic Advocates LLC lifted its position in shares of NetApp by 4.1% in the third quarter. Strategic Advocates LLC now owns 12,599 shares of the data storage provider’s stock worth $1,492,000 after purchasing an additional 498 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of NetApp by 10.8% during the third quarter. CIBC Private Wealth Group LLC now owns 4,675 shares of the data storage provider’s stock worth $554,000 after purchasing an additional 455 shares during the period. Hedge funds and other institutional investors own 92.17% of the company’s stock.

More NetApp News

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Zacks raised near-term 2026 estimates — they lifted FY2026 to $6.37 from $6.15 and bumped Q3 2026 to $1.67 (from $1.64) and Q4 2026 to $1.84 (from $1.79). This signals stronger-than-expected performance in the current fiscal year, which supports NTAP’s near-term valuation. Zacks Research note (12/16)
• Positive Sentiment: Zacks modestly raised Q4 2027 to $1.92 (from $1.89), a small tailwind for late‑year 2027 assumptions. Zacks Research note (12/16)
• Negative Sentiment: Material downward revisions for FY2028 — Zacks cut FY2028 to $7.42 from $7.87. A lower long‑range earnings profile can reduce forward multiples and investor confidence if other firms follow suit. Zacks Research note (12/16)
• Negative Sentiment: Multiple 2027 quarter cuts: Q1 2027 down to $1.42 (from $1.45), Q2 2027 to $1.69 (from $1.71), and a notable Q3 2027 cut to $1.66 (from $1.78). Those bumps-down, especially Q3, suggest Zacks expects weaker mid‑2027 earnings momentum. Zacks Research note (12/16)
• Negative Sentiment: Small cuts to early‑2028 quarters (Q1 2028 to $1.69 and Q2 2028 to $1.85) reinforce the downward tweak to FY2028 and highlight caution about growth beyond FY2026. Zacks Research note (12/16)

NetApp Company Profile

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.