NetApp (NTAP) Scheduled to Post Quarterly Earnings on Wednesday

NetApp (NASDAQ:NTAP) will be announcing its earnings results after the market closes on Wednesday, May 22nd. Analysts expect the company to announce earnings of $1.13 per share for the quarter.

NetApp (NASDAQ:NTAP) last posted its quarterly earnings data on Wednesday, February 13th. The data storage provider reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.05. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.60 billion. NetApp had a return on equity of 60.32% and a net margin of 16.85%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 earnings per share. On average, analysts expect NetApp to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

NTAP stock opened at $67.32 on Wednesday. NetApp has a twelve month low of $54.50 and a twelve month high of $88.08. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.56 and a quick ratio of 1.53. The company has a market capitalization of $16.63 billion, a PE ratio of 22.52, a PEG ratio of 0.99 and a beta of 1.40.

In other NetApp news, VP Joel D. Reich sold 20,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $64.04, for a total value of $1,280,800.00. Following the completion of the transaction, the vice president now owns 744 shares in the company, valued at $47,645.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Several equities research analysts have recently commented on NTAP shares. Morgan Stanley cut NetApp from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $72.00 to $58.00 in a research note on Tuesday, January 15th. Zacks Investment Research cut NetApp from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. BidaskClub upgraded NetApp from a “hold” rating to a “buy” rating in a research note on Wednesday, January 30th. OTR Global cut NetApp to a “positive” rating in a research note on Friday, February 8th. Finally, Bank of America restated a “buy” rating and set a $90.00 price target on shares of NetApp in a research note on Monday, February 11th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $77.88.

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About NetApp

NetApp, Inc provides software, systems, and services to manage and share data on-premises, and private and public clouds worldwide. It offers cloud data services, such as ONTAP cloud storage data management and NetApp cloud sync data synchronization services; NetApp SaaS backup for Microsoft Office 365; NetApp cloud backup solutions; OnCommand management software and management integration tools; and NetApp private storage for cloud.

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Earnings History for NetApp (NASDAQ:NTAP)

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