NetApp (NASDAQ:NTAP) Releases FY25 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY25 earnings guidance on Thursday. The company provided earnings per share guidance of $7.20-7.40 for the period, compared to the consensus earnings per share estimate of $7.11. The company issued revenue guidance of $6.54-6.74 billion, compared to the consensus revenue estimate of $6.60 billion. NetApp also updated its FY 2025 guidance to 7.200-7.400 EPS.

Wall Street Analyst Weigh In

NTAP has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on NetApp from $146.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and upped their price target for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Wedbush restated a “neutral” rating and issued a $120.00 price target on shares of NetApp in a research note on Monday, August 26th. Citigroup lifted their price objective on shares of NetApp from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Bank of America lifted their target price on NetApp from $105.00 to $110.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $129.06.

NetApp Stock Performance

NetApp stock traded up $3.23 during midday trading on Thursday, reaching $126.68. 4,385,619 shares of the company traded hands, compared to its average volume of 1,823,943. NetApp has a 12 month low of $77.46 and a 12 month high of $135.01. The firm has a market capitalization of $25.94 billion, a price-to-earnings ratio of 24.11, a price-to-earnings-growth ratio of 3.13 and a beta of 1.24. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.96 and a quick ratio of 0.91. The business has a 50 day moving average of $121.56 and a two-hundred day moving average of $122.36.

NetApp (NASDAQ:NTAP) last released its earnings results on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, topping the consensus estimate of $1.78 by $0.09. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The company’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.23 earnings per share. As a group, research analysts predict that NetApp will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.64%. NetApp’s dividend payout ratio (DPR) is presently 40.63%.

Insider Buying and Selling

In other news, CEO George Kurian sold 8,500 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $118.00, for a total transaction of $1,003,000.00. Following the completion of the sale, the chief executive officer now owns 288,282 shares in the company, valued at $34,017,276. This trade represents a 2.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Lorenzo Daniel De sold 326 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $117.44, for a total value of $38,285.44. The disclosure for this sale can be found here. Insiders sold 23,049 shares of company stock worth $2,807,851 in the last 90 days. Insiders own 0.47% of the company’s stock.

About NetApp

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.