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.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup boosted their target price on shares of NetApp from $130.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday. Northland Securities increased their price objective on NetApp from $108.00 to $120.00 and gave the stock a “market perform” rating in a research note on Friday. Evercore ISI lifted their target price on NetApp from $120.00 to $130.00 and gave the company an “in-line” rating in a research note on Monday, August 12th. Loop Capital raised shares of NetApp from a “hold” rating to a “buy” rating and increased their price target for the stock from $121.00 to $150.00 in a research report on Tuesday, September 3rd. Finally, Barclays raised their price target on shares of NetApp from $119.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $134.00.

NetApp Stock Down 3.4 %

NTAP stock opened at $122.34 on Friday. The firm has a market cap of $25.05 billion, a PE ratio of 22.49, a PEG ratio of 3.26 and a beta of 1.24. NetApp has a 1 year low of $77.56 and a 1 year high of $135.45. The company has a fifty day simple moving average of $121.87 and a 200 day simple moving average of $122.59. 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 (NASDAQ:NTAP) last announced its quarterly earnings results on Thursday, November 21st. The data storage provider reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.09. NetApp had a return on equity of 119.68% and a net margin of 17.78%. The company had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the firm earned $1.23 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Sell-side analysts anticipate that NetApp will post 5.71 EPS for the current fiscal year.

NetApp Announces Dividend

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

Insider Buying and Selling

In related news, CEO George Kurian sold 8,500 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $118.00, for a total transaction of $1,003,000.00. Following the transaction, the chief executive officer now directly owns 288,282 shares in the company, valued at $34,017,276. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Lorenzo Daniel De sold 326 shares of the company’s stock in a transaction that occurred 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 23,049 shares of company stock worth $2,807,851 in the last quarter. 0.47% of the stock is currently owned by company 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.