NetApp (NTAP) to Release Quarterly Earnings on Thursday

NetApp (NASDAQ:NTAP - Get Free Report) is expected to be posting its quarterly earnings results after the market closes on Thursday, February 27th. Analysts expect NetApp to post earnings of $1.90 per share and revenue of $1.69 billion for the quarter. Individual interested in participating in the company's earnings conference call can do so using this link.

NetApp (NASDAQ:NTAP - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The data storage provider reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.09. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. NetApp had a net margin of 17.78% and a return on equity of 123.63%. NetApp's quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.23 earnings per share. On average, analysts expect NetApp to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

NetApp Stock Performance

Shares of NetApp stock traded down $0.07 during midday trading on Friday, hitting $124.49. The company had a trading volume of 1,085,896 shares, compared to its average volume of 1,371,553. The business's 50 day simple moving average is $120.07 and its two-hundred day simple moving average is $121.86. The stock has a market cap of $25.31 billion, a PE ratio of 22.88, a P/E/G ratio of 2.96 and a beta of 1.23. 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 has a 1-year low of $85.28 and a 1-year high of $135.45.

Wall Street Analyst Weigh In

Several research analysts recently commented on NTAP shares. Morgan Stanley raised their target price on NetApp from $132.00 to $146.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 17th. TD Cowen raised their target price on NetApp from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Susquehanna cut NetApp from a "positive" rating to a "neutral" rating and reduced their target price for the stock from $155.00 to $130.00 in a research report on Monday, February 10th. Bank of America raised NetApp from an "underperform" rating to a "neutral" rating and raised their target price for the stock from $121.00 to $128.00 in a research report on Wednesday. Finally, StockNews.com raised NetApp from a "hold" rating to a "buy" rating in a research report on Wednesday. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $137.33.

Insider Buying and Selling at NetApp

In related news, CFO Michael J. Berry sold 12,500 shares of NetApp stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $120.74, for a total value of $1,509,250.00. Following the completion of the transaction, the chief financial officer now directly owns 123,243 shares of the company's stock, valued at $14,880,359.82. The trade was a 9.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO George Kurian sold 8,500 shares of NetApp stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $124.29, for a total value of $1,056,465.00. Following the completion of the transaction, the chief executive officer now directly owns 279,782 shares of the company's stock, valued at $34,774,104.78. This represents a 2.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 60,903 shares of company stock valued at $7,260,341. 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.