NetApp (NASDAQ:NTAP - Get Free Report) released its quarterly earnings results on Thursday. The data storage provider reported $1.54 EPS for the quarter, missing analysts' consensus estimates of $1.90 by ($0.36), Zacks reports. NetApp had a net margin of 17.78% and a return on equity of 123.63%. The business had revenue of $1.64 billion during the quarter, compared to analysts' expectations of $1.70 billion. NetApp updated its FY 2025 guidance to 7.170-7.270 EPS and its Q4 2025 guidance to 1.840-1.940 EPS.
NetApp Stock Performance
NTAP stock traded down $4.08 during midday trading on Monday, hitting $95.73. 3,429,399 shares of the stock traded hands, compared to its average volume of 1,781,472. The stock's fifty day simple moving average is $119.85 and its 200-day simple moving average is $121.79. The firm has a market cap of $19.46 billion, a P/E ratio of 17.60, a PEG ratio of 2.45 and a beta of 1.23. NetApp has a 1-year low of $95.18 and a 1-year high of $135.45. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.91 and a quick ratio of 0.84.
NetApp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Friday, April 4th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, April 4th. NetApp's dividend payout ratio (DPR) is presently 38.52%.
Analysts Set New Price Targets
A number of research firms recently commented on NTAP. Wells Fargo & Company lowered their target price on shares of NetApp from $130.00 to $115.00 and set an "equal weight" rating for the company in a research note on Friday. Keefe, Bruyette & Woods raised shares of NetApp to an "outperform" rating in a report on Wednesday, February 19th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and upped their target price for the company from $121.00 to $128.00 in a research report on Wednesday, February 19th. Citigroup dropped their price target on NetApp from $135.00 to $110.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Oppenheimer initiated coverage on NetApp in a research note on Wednesday, November 13th. They issued a "market perform" rating for the company. Twelve research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $130.40.
Check Out Our Latest Stock Report on NTAP
Insider Transactions at NetApp
In related news, CEO George Kurian sold 8,500 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $119.04, for a total value of $1,011,840.00. Following the completion of the transaction, the chief executive officer now owns 266,765 shares of the company's stock, valued at approximately $31,755,705.60. This represents a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Cesar Cernuda sold 22,000 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $114.99, for a total value of $2,529,780.00. Following the completion of the sale, the president now directly owns 27,099 shares in the company, valued at approximately $3,116,114.01. The trade was a 44.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,903 shares of company stock valued at $7,260,341 in the last ninety days. 0.47% of the stock is currently owned by corporate insiders.
About NetApp
(
Get Free Report)
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.
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