NetApp (NASDAQ:NTAP) Issues FY 2026 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY 2026 earnings guidance on Thursday. The company provided EPS guidance of 7.920-8.020 for the period, compared to the consensus EPS estimate of 7.290. The company issued revenue guidance of $6.8 billion-$6.9 billion, compared to the consensus revenue estimate of $6.8 billion. NetApp also updated its Q4 2026 guidance to 2.210-2.310 EPS.

Analyst Ratings Changes

Several research firms recently commented on NTAP. Oppenheimer reiterated a “market perform” rating on shares of NetApp in a research note on Wednesday, November 26th. Bank of America raised their price objective on shares of NetApp from $125.00 to $129.00 and gave the stock a “neutral” rating in a report on Wednesday, November 26th. UBS Group increased their price target on shares of NetApp from $114.00 to $120.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 26th. The Goldman Sachs Group started coverage on NetApp in a research note on Tuesday, January 13th. They issued a “buy” rating and a $128.00 price target for the company. Finally, Barclays upped their price objective on NetApp from $125.00 to $134.00 and gave the company an “overweight” rating in a research note on Wednesday, November 26th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, NetApp currently has an average rating of “Moderate Buy” and an average price target of $123.21.

NetApp Stock Performance

Shares of NASDAQ:NTAP traded down $2.74 during trading on Thursday, hitting $99.14. 3,815,472 shares of the company traded hands, compared to its average volume of 2,508,811. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 2.52. The business’s fifty day moving average is $103.62 and its 200-day moving average is $111.40. The stock has a market capitalization of $19.64 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 3.46 and a beta of 1.38. NetApp has a one year low of $71.84 and a one year high of $126.66.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Tuesday, November 25th. The data storage provider reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.17. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.69 billion. NetApp had a return on equity of 121.28% and a net margin of 17.73%.The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.87 EPS. As a group, equities analysts predict that NetApp will post 5.89 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Elizabeth M. O’callahan sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $103.45, for a total transaction of $103,450.00. Following the completion of the transaction, the executive vice president owned 20,075 shares in the company, valued at approximately $2,076,758.75. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.28% of the company’s stock.

NetApp News Roundup

Here are the key news stories impacting NetApp this week:

• Positive Sentiment: Quarterly results beat: NetApp reported EPS of $2.12 vs. $2.07 consensus and revenue of $1.71B vs. ~$1.70B expected — the company continues to deliver steady top- and bottom-line execution. Press Release
• Positive Sentiment: Raised guidance: NetApp lifted FY‑2026 EPS guidance to $7.920–8.020 (consensus ~7.29) and Q4 EPS to $2.210–2.310 (consensus ~2.08); revenue guidance was modestly above consensus — a material beat on forward numbers that should support valuation multiple expansion. Slide Deck
• Neutral Sentiment: Analyst stance mixed: Wedbush reaffirmed a “neutral” rating with a $115 target (some upside vs. current levels), reflecting cautious optimism rather than an immediate buy signal for momentum investors. Wedbush Note
• Neutral Sentiment: Pre-earnings coverage and previews framed expectations conservatively, which likely reduced surprise elasticity despite the beat — many investors already priced in cautious expectations. Earnings Preview
• Negative Sentiment: Strategic transition risk: coverage is questioning whether NetApp’s shift toward AI-focused cloud subscriptions alters its investment case — that transition (and pace of subscription adoption) creates execution risk and investor uncertainty. AI Strategy Article
• Negative Sentiment: Competitive/market comparisons: analysts and blogs are contrasting NetApp with peers (e.g., Seagate) that are benefiting from AI-driven HDD demand and momentum — that relative story can pressure NTAP multiple and sentiment. Seagate vs NetApp

Institutional Investors Weigh In On NetApp

Several large investors have recently made changes to their positions in the company. DV Equities LLC bought a new position in NetApp during the 4th quarter valued at $30,000. Gen Wealth Partners Inc bought a new stake in shares of NetApp in the 4th quarter worth $30,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of NetApp in the third quarter valued at $35,000. Zions Bancorporation National Association UT boosted its stake in NetApp by 99.5% during the fourth quarter. Zions Bancorporation National Association UT now owns 385 shares of the data storage provider’s stock valued at $41,000 after buying an additional 192 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its holdings in NetApp by 92.8% during the third quarter. Sunbelt Securities Inc. now owns 480 shares of the data storage provider’s stock worth $57,000 after acquiring an additional 231 shares during the period. Institutional investors and hedge funds own 92.17% of the company’s stock.

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.