Analysts expect NetApp Inc. (NASDAQ:NTAP) to post sales of $1.49 billion for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for NetApp’s earnings. The lowest sales estimate is $1.46 billion and the highest is $1.50 billion. NetApp reported sales of $1.40 billion during the same quarter last year, which would suggest a positive year over year growth rate of 6.4%. The business is scheduled to issue its next earnings report on Wednesday, February 21st.

According to Zacks, analysts expect that NetApp will report full year sales of $1.49 billion for the current year, with estimates ranging from $5.70 billion to $5.84 billion. For the next year, analysts anticipate that the business will report sales of $5.99 billion per share, with estimates ranging from $5.88 billion to $6.12 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow NetApp.

NetApp (NASDAQ:NTAP) last released its quarterly earnings data on Wednesday, November 15th. The data storage provider reported $0.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. NetApp had a net margin of 11.49% and a return on equity of 26.77%. The business had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the company earned $0.60 EPS. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year.

Several brokerages have issued reports on NTAP. UBS Group upgraded shares of NetApp from a “neutral” rating to a “buy” rating and upped their price target for the company from $42.00 to $45.00 in a research report on Tuesday, September 19th. DA Davidson upped their price target on shares of NetApp from $53.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, November 14th. Loop Capital upped their price target on shares of NetApp from $41.00 to $50.00 and gave the company a “hold” rating in a research report on Thursday, November 16th. They noted that the move was a valuation call. Barclays restated an “overweight” rating and issued a $56.00 price target (up from $52.00) on shares of NetApp in a research report on Thursday, November 16th. Finally, Drexel Hamilton restated a “buy” rating and issued a $62.00 price target on shares of NetApp in a research report on Monday, September 25th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and fourteen have assigned a buy rating to the company. NetApp has a consensus rating of “Hold” and a consensus price target of $50.15.

In related news, SVP Matthew K. Fawcett sold 29,845 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $46.60, for a total transaction of $1,390,777.00. Following the transaction, the senior vice president now directly owns 31,962 shares of the company’s stock, valued at $1,489,429.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Henri P. Richard sold 1,976 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.62, for a total transaction of $88,169.12. Following the transaction, the executive vice president now directly owns 13,860 shares in the company, valued at $618,433.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 197,604 shares of company stock worth $10,389,277. 0.47% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. DnB Asset Management AS lifted its stake in shares of NetApp by 3.3% in the fourth quarter. DnB Asset Management AS now owns 31,397 shares of the data storage provider’s stock valued at $1,737,000 after buying an additional 1,000 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of NetApp by 5.7% in the third quarter. Parametric Portfolio Associates LLC now owns 939,925 shares of the data storage provider’s stock valued at $41,131,000 after buying an additional 50,739 shares in the last quarter. Visionary Asset Management Inc. bought a new position in shares of NetApp in the third quarter valued at $200,000. Belpointe Asset Management LLC bought a new position in shares of NetApp in the third quarter valued at $471,000. Finally, IFM Investors Pty Ltd bought a new position in shares of NetApp in the third quarter valued at $423,000. 94.71% of the stock is currently owned by institutional investors and hedge funds.

Shares of NetApp (NASDAQ NTAP) traded up $1.16 during midday trading on Friday, reaching $61.81. 3,558,300 shares of the company’s stock traded hands, compared to its average volume of 2,596,962. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.64 and a current ratio of 1.67. NetApp has a 1 year low of $35.08 and a 1 year high of $61.86. The firm has a market cap of $16,490.00, a PE ratio of 26.53, a P/E/G ratio of 1.91 and a beta of 1.29.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, January 4th. NetApp’s dividend payout ratio is presently 34.33%.

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NetApp Company Profile

NetApp, Inc (NetApp) provides software, systems and services to manage and store customer data. The Company enables enterprises, service providers, governmental organizations, and partners to envision, deploy and evolve their information technology (IT) environments. The Company offers a portfolio of products and services that satisfy a range of customer workloads across different data types and deployment models.

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Earnings History and Estimates for NetApp (NASDAQ:NTAP)

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