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Valued at $21.2 billion by market cap, San Jose, California-based NetApp, Inc. (NTAP) provides a range of enterprise software, systems, and services that customers use to transform their data infrastructures. The company operates through Hybrid Cloud and Public Cloud segments, and its operations span the Americas, EMEA, and the Indo-Pacific.
The tech major is expected to announce its first-quarter results on Wednesday, Aug. 27. Ahead of the event, analysts expect NTAP to deliver a profit of $1.19 per share, down 4% from $1.24 per share reported in the year-ago quarter. While the company has missed the Street’s bottom-line estimates once over the past four quarters, it has surpassed the projections on three other occasions.
For the full fiscal 2026, analysts expect NTAP’s EPS to come in at $6.22, up 7.4% from $5.79 reported in fiscal 2025. In fiscal 2027, its earnings are expected to further surge 13.8% year-over-year to $7.08 per share.
NTAP stock has plunged 16.7% over the past 52 weeks, significantly underperforming the S&P 500 Index’s ($SPX) 17.3% surge and the Technology Select Sector SPDR Fund’s (XLK) 21.1% returns during the same time frame.
NetApp’s stock prices remained almost flat in the trading session after the release of its Q4 results on May 29. The Hybrid Cloud segment's sales increased 6.9% year-over-year to nearly $1.6 billion, while its Public Cloud segment's revenues dropped by 5.7% to $164 million. Its overall topline for the quarter came in at $1.7 billion, marking 5.5% growth from the year-ago quarter and beating the consensus estimates by 58 bps. Moreover, its non-GAAP net income grew 3.9% year-over-year to $397 million, beating the Street’s expectations.
Analysts remain cautiously optimistic about the stock's prospects. NTAP has a consensus “Moderate Buy” rating overall. Of the 19 analysts covering the stock, opinions include six “Strong Buys” and 13 “Holds.” Its mean price target of $116.07 suggests a 10.9% upside potential from current price levels.
