NetApp (NASDAQ:NTAP) Updates FY25 Earnings Guidance

NetApp (NASDAQ:NTAPGet Free Report) updated its FY25 earnings guidance on Thursday. The company provided earnings per share guidance of $6.80-7.00 for the period, compared to the consensus earnings per share estimate of $6.74. The company issued revenue guidance of $6.45-6.65 billion, compared to the consensus revenue estimate of $6.53 billion. NetApp also updated its FY 2025 guidance to 6.800-7.000 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. StockNews.com downgraded shares of NetApp from a strong-buy rating to a buy rating in a report on Thursday, March 7th. UBS Group raised their price objective on shares of NetApp from $93.00 to $96.00 and gave the stock a neutral rating in a report on Friday, March 1st. Argus upgraded shares of NetApp from a hold rating to a buy rating and set a $130.00 target price for the company in a research report on Monday, March 4th. Barclays increased their target price on shares of NetApp from $100.00 to $116.00 and gave the stock an equal weight rating in a research report on Friday. Finally, Stifel Nicolaus increased their target price on shares of NetApp from $120.00 to $130.00 and gave the stock a buy rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, NetApp has an average rating of Hold and an average target price of $112.75.

View Our Latest Stock Report on NTAP

NetApp Stock Up 3.4 %

Shares of NASDAQ:NTAP opened at $120.43 on Friday. NetApp has a one year low of $66.01 and a one year high of $121.48. The company has a 50 day moving average of $106.66 and a 200-day moving average of $95.57. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.15 and a quick ratio of 1.11. The stock has a market cap of $24.85 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 3.11 and a beta of 1.27.

NetApp (NASDAQ:NTAPGet Free Report) last released its quarterly earnings data on Thursday, May 30th. The data storage provider reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.32. NetApp had a net margin of 15.73% and a return on equity of 123.24%. The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same quarter last year, the firm earned $1.20 EPS. NetApp’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that NetApp will post 5.46 earnings per share for the current year.

NetApp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.52 per share. This is a positive change from NetApp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.08 annualized dividend and a yield of 1.73%. NetApp’s dividend payout ratio (DPR) is presently 43.10%.

Insider Buying and Selling

In other NetApp news, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total value of $89,730.42. Following the transaction, the executive vice president now owns 9,601 shares of the company’s stock, valued at $989,095.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $101.44, for a total value of $862,240.00. Following the sale, the chief executive officer now directly owns 261,202 shares in the company, valued at $26,496,330.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Elizabeth M. O’callahan sold 871 shares of NetApp stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $103.02, for a total transaction of $89,730.42. Following the completion of the sale, the executive vice president now owns 9,601 shares in the company, valued at $989,095.02. The disclosure for this sale can be found here. Insiders have sold 40,371 shares of company stock valued at $4,139,505 in the last 90 days. 0.37% of the stock is owned by insiders.

NetApp Company Profile

(Get Free Report)

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.

Featured Stories

Earnings History and Estimates for NetApp (NASDAQ:NTAP)

Receive News & Ratings for NetApp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NetApp and related companies with MarketBeat.com's FREE daily email newsletter.