Wedbush Analysts Raise Earnings Estimates for NetApp

NetApp, Inc. (NASDAQ:NTAP) – Research analysts at Wedbush boosted their Q2 2027 earnings estimates for shares of NetApp in a report released on Wednesday, November 26th. Wedbush analyst M. Bryson now anticipates that the data storage provider will post earnings of $1.69 per share for the quarter, up from their prior estimate of $1.68. Wedbush has a “Neutral” rating and a $110.00 price objective 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.

NTAP has been the topic of a number of other research reports. Bank of America upped their target price on NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. Oppenheimer restated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Wells Fargo & Company upped their price target on NetApp from $100.00 to $115.00 and gave the stock a “positive” rating in a research note on Wednesday, November 26th. Barclays increased their price objective on NetApp from $125.00 to $134.00 and gave the stock an “overweight” rating in a report on Wednesday, November 26th. Finally, Northland Securities set a $137.00 price objective on NetApp and gave the company an “outperform” rating in a research report on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $124.07.

NetApp Price Performance

NTAP stock opened at $115.83 on Monday. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.31 and a quick ratio of 1.28. NetApp has a 1 year low of $71.84 and a 1 year high of $131.30. The firm has a 50-day moving average of $115.10 and a 200 day moving average of $110.59. The company has a market cap of $22.94 billion, a P/E ratio of 20.46, a PEG ratio of 2.48 and a beta of 1.46.

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

Hedge Funds Weigh In On NetApp

Hedge funds have recently added to or reduced their stakes in the company. Strategic Advocates LLC lifted its position in NetApp by 4.1% in the 3rd quarter. Strategic Advocates LLC now owns 12,599 shares of the data storage provider’s stock valued at $1,492,000 after acquiring an additional 498 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of NetApp by 10.8% in the 3rd 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 in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of NetApp in the third quarter worth $3,272,000. Achmea Investment Management B.V. lifted its holdings in shares of NetApp by 9.2% during the third quarter. Achmea Investment Management B.V. now owns 114,483 shares of the data storage provider’s stock valued at $13,562,000 after purchasing an additional 9,621 shares in the last quarter. Finally, Caerus Investment Advisors LLC bought a new position in shares of NetApp during the third quarter valued at $374,000. 92.17% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NetApp

In other news, CEO George Kurian sold 8,750 shares of the company’s 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 327 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $107.48, for a total transaction of $35,145.96. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 12,183 shares of company stock valued at $1,483,361. 0.28% of the stock is owned by insiders.

NetApp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 21st. Investors of record on Friday, January 2nd will be paid a $0.52 dividend. The ex-dividend date is Friday, January 2nd. This represents a $2.08 dividend on an annualized basis and a yield of 1.8%. NetApp’s payout ratio is presently 36.17%.

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.