NetApp (NASDAQ:NTAP) Releases FY25 Earnings Guidance

NetApp (NASDAQ:NTAP) updated its FY25 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $7.20-7.40 for the period, compared to the consensus 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.

NetApp Price Performance

Shares of NTAP stock opened at $122.34 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.91 and a debt-to-equity ratio of 1.34. The stock has a market capitalization of $25.05 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 3.26 and a beta of 1.24. The stock has a fifty day simple moving average of $121.87 and a two-hundred day simple moving average of $122.59. NetApp has a twelve month low of $77.56 and a twelve month high of $135.45.

NetApp (NASDAQ:NTAP) last issued its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 EPS for the quarter, beating the consensus estimate of $1.78 by $0.09. NetApp had a return on equity of 119.68% and a net margin of 17.78%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.65 billion. During the same quarter in the prior year, the business posted $1.23 EPS. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. On average, analysts predict that NetApp will post 5.71 EPS for the current fiscal year.

NetApp Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NTAP. Citigroup upped their price target on shares of NetApp from $130.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday. Susquehanna reaffirmed a “positive” rating and issued a $155.00 price target on shares of NetApp in a research note on Monday, August 26th. Barclays increased their price objective on NetApp from $119.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday. Oppenheimer initiated coverage on shares of NetApp in a research note on Wednesday, November 13th. They set a “market perform” rating on the stock. Finally, Northland Securities increased their target price on shares of NetApp from $108.00 to $120.00 and gave the company a “market perform” rating in a research report on Friday. One research 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. According to MarketBeat.com, NetApp has a consensus rating of “Hold” and a consensus target price of $134.00.

Insiders Place Their Bets

In other news, CEO George Kurian sold 8,500 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $126.11, for a total value of $1,071,935.00. Following the completion of the transaction, the chief executive officer now directly owns 292,778 shares in the company, valued at $36,922,233.58. This trade represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Elizabeth M. O’callahan sold 705 shares of NetApp stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $126.20, for a total value of $88,971.00. Following the transaction, the executive vice president now directly owns 11,694 shares in the company, valued at approximately $1,475,782.80. The trade was a 5.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,049 shares of company stock valued at $2,807,851 over the last 90 days. 0.47% of the stock is 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.