NetApp (NASDAQ:NTAP) Updates FY 2025 Earnings Guidance

NetApp (NASDAQ:NTAP) issued an update on its FY 2025 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 7.200-7.400 for the period, compared to the consensus estimate of 7.110. The company issued revenue guidance of $6.5 billion-$6.7 billion, compared to the consensus revenue estimate of $6.6 billion. NetApp also updated its FY25 guidance to $7.20-7.40 EPS.

NetApp Stock Down 3.4 %

Shares of NASDAQ:NTAP opened at $122.34 on Friday. NetApp has a 52 week low of $77.56 and a 52 week high of $135.45. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.91 and a current ratio of 0.96. The company has a market cap of $25.05 billion, a PE ratio of 22.49, a price-to-earnings-growth ratio of 3.26 and a beta of 1.24. The firm has a 50 day simple moving average of $121.87 and a 200 day simple moving average of $122.59.

NetApp (NASDAQ:NTAP) last issued 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 business had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. NetApp had a return on equity of 119.68% and a net margin of 17.78%. NetApp’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 earnings per share. As a group, research analysts expect that NetApp will post 5.71 earnings per share for the current year.

NetApp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.70%. NetApp’s dividend payout ratio is 38.24%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NTAP. Northland Securities boosted their price objective on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday. Oppenheimer initiated coverage on NetApp in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Wells Fargo & Company increased their price objective on NetApp from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday. TD Cowen lifted their target price on shares of NetApp from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus lifted their price objective on shares of NetApp from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $134.00.

Insider Activity

In other news, Director Thomas Michael Nevens sold 3,333 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $119.23, for a total value of $397,393.59. Following the sale, the director now directly owns 9,277 shares in the company, valued at approximately $1,106,096.71. This represents a 26.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Lorenzo Daniel De sold 1,685 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $123.60, for a total transaction of $208,266.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,049 shares of company stock valued at $2,807,851. Insiders own 0.47% of the company’s stock.

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.