NetApp (NASDAQ:NTAP) Issues FY25 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its FY25 earnings guidance on Thursday morning. The company provided EPS guidance of $7.20-7.40 for the period, compared to the consensus EPS 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 Q3 guidance to $1.85-1.95 EPS.

NetApp Stock Performance

NASDAQ:NTAP traded up $3.23 during mid-day trading on Thursday, hitting $126.68. The stock had a trading volume of 4,096,012 shares, compared to its average volume of 1,822,661. The stock has a market capitalization of $25.94 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 3.13 and a beta of 1.24. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. NetApp has a 52 week low of $77.46 and a 52 week high of $135.01. The company has a 50 day simple moving average of $121.56 and a 200-day simple moving average of $122.36.

NetApp (NASDAQ:NTAP) last issued its earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a net margin of 17.01% and a return on equity of 121.41%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. During the same period in the previous year, the business earned $1.23 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. On average, research analysts expect that NetApp will post 5.71 earnings per share for the current fiscal year.

NetApp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, October 4th. NetApp’s dividend payout ratio is currently 40.63%.

Analyst Ratings Changes

A number of brokerages have weighed in on NTAP. Wedbush reaffirmed a “neutral” rating and issued a $120.00 target price on shares of NetApp in a research note on Monday, August 26th. Oppenheimer assumed coverage on shares of NetApp in a report on Wednesday, November 13th. They issued a “market perform” rating for the company. Loop Capital upgraded shares of NetApp from a “hold” rating to a “buy” rating and upped their price target for the company from $121.00 to $150.00 in a research note on Tuesday, September 3rd. UBS Group raised their target price on shares of NetApp from $121.00 to $134.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Stifel Nicolaus lifted their price target on shares of NetApp from $138.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $129.06.

Insider Activity

In other NetApp news, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the sale, the executive vice president now owns 11,694 shares in the company, valued at $1,475,782.80. The trade was a 5.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Lorenzo Daniel De sold 326 shares of NetApp stock in a transaction on Monday, November 18th. The shares were 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 have sold a total of 23,049 shares of company stock worth $2,807,851 over the last quarter. 0.47% of the stock is currently owned by corporate insiders.

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.