NetApp (NASDAQ:NTAP) Issues FY 2027 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its FY 2027 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 8.700-9.000 for the period, compared to the consensus estimate of 8.250. The company issued revenue guidance of $7.3 billion-$7.6 billion, compared to the consensus revenue estimate of $7.2 billion. NetApp also updated its Q1 2027 guidance to 2.050-2.150 EPS.

NetApp Stock Down 0.2%

NTAP traded down $0.34 during midday trading on Thursday, reaching $142.40. The company’s stock had a trading volume of 5,991,844 shares, compared to its average volume of 2,505,100. The firm has a market capitalization of $28.10 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 2.53 and a beta of 1.28. The company has a current ratio of 1.39, a quick ratio of 1.36 and a debt-to-equity ratio of 2.15. NetApp has a 1 year low of $93.69 and a 1 year high of $143.65. The stock’s 50-day moving average is $110.18 and its 200-day moving average is $107.28.

NetApp (NASDAQ:NTAP) last announced its quarterly earnings data on Thursday, February 26th. The data storage provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.05. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.70 billion. NetApp had a net margin of 18.07% and a return on equity of 118.11%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.91 earnings per share. As a group, research analysts expect that NetApp will post 6.48 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup cut shares of NetApp from a “neutral” rating to a “mixed” rating in a report on Thursday, May 14th. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of NetApp in a report on Wednesday, February 25th. Wall Street Zen cut shares of NetApp from a “buy” rating to a “hold” rating in a report on Sunday, April 19th. JPMorgan Chase & Co. cut shares of NetApp from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $125.00 to $110.00 in a report on Thursday, April 16th. Finally, Weiss Ratings cut shares of NetApp from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, NetApp currently has a consensus rating of “Hold” and an average target price of $122.27.

Insider Activity at NetApp

In other NetApp news, CAO Lorenzo Daniel De sold 275 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $120.00, for a total value of $33,000.00. Following the transaction, the chief accounting officer directly owned 1,090 shares in the company, valued at approximately $130,800. This trade represents a 20.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $117.73, for a total transaction of $117,730.00. Following the completion of the transaction, the executive vice president owned 18,382 shares in the company, valued at $2,164,112.86. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,275 shares of company stock worth $347,650 over the last quarter. Insiders own 0.28% of the company’s stock.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: NetApp posted fiscal Q4 2026 results that topped revenue expectations, with revenue of $1.95 billion versus the $1.87 billion consensus. Article Title
• Positive Sentiment: The company issued upbeat guidance for Q1 2027, with EPS guidance of 2.05-2.15 and revenue guidance of $1.8 billion-$1.9 billion, both above Wall Street estimates.
• Positive Sentiment: NetApp also raised full-year FY 2027 guidance to EPS of 8.70-9.00 and revenue of $7.3 billion-$7.6 billion, ahead of consensus.
• Positive Sentiment: The board authorized a new $1.0 billion share repurchase program, which can help support earnings per share and signals confidence in cash generation. Article Title
• Neutral Sentiment: Despite the strong report, the quarter was mixed on profitability versus expectations: EPS came in below consensus in one third-party summary, which may be creating some volatility around the results. Article Title
• Neutral Sentiment: Recent analyst commentary remains mixed, with at least one underweight rating still on the stock, even as price targets have been revised higher by some firms.
• Negative Sentiment: Some market coverage notes that NTAP has faced concerns around slower IT spending and cloud-related pressure, which may limit upside if the outlook cools later in the year. Article Title

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Compound Planning Inc. raised its position in NetApp by 13.3% in the fourth quarter. Compound Planning Inc. now owns 5,842 shares of the data storage provider’s stock worth $626,000 after acquiring an additional 686 shares during the period. Invesco Ltd. raised its position in shares of NetApp by 5.1% during the 4th quarter. Invesco Ltd. now owns 3,170,157 shares of the data storage provider’s stock valued at $339,492,000 after purchasing an additional 154,490 shares during the period. Corient Private Wealth LLC raised its position in shares of NetApp by 169.0% during the 4th quarter. Corient Private Wealth LLC now owns 129,925 shares of the data storage provider’s stock valued at $13,914,000 after purchasing an additional 81,634 shares during the period. Mercer Global Advisors Inc. ADV raised its position in shares of NetApp by 1.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 46,106 shares of the data storage provider’s stock valued at $4,938,000 after purchasing an additional 466 shares during the period. Finally, EP Wealth Advisors LLC bought a new stake in shares of NetApp during the 4th quarter valued at $1,824,000. 92.17% of the stock is currently owned by institutional investors.

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.