NetApp (NASDAQ:NTAP) Issues FY 2020 After-Hours Earnings Guidance
NetApp (NASDAQ:NTAP) issued an update on its FY 2020
After-Hours earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 4.20-4.20 for the period, compared to the Thomson Reuters consensus estimate of $4.30. The company issued revenue guidance of $5.531-5.531 billion, compared to the consensus revenue estimate of $5.64 billion.NetApp also updated its Q4 guidance to $1.28-1.36 EPS.
Shares of NASDAQ NTAP traded down $0.94 during midday trading on Friday, hitting $54.24. 3,217,318 shares of the company’s stock were exchanged, compared to its average volume of 2,375,587. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 2.14. The business’s fifty day moving average price is $60.10 and its two-hundred day moving average price is $56.27. The company has a market cap of $13.25 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 1.31 and a beta of 1.58. NetApp has a 12-month low of $44.55 and a 12-month high of $78.35.
NetApp (NASDAQ:NTAP) last announced its earnings results on Wednesday, February 12th. The data storage provider reported $1.16 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.02). NetApp had a net margin of 17.20% and a return on equity of 95.04%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the prior year, the business earned $1.20 earnings per share. The company’s revenue for the quarter was down 10.2% compared to the same quarter last year. Equities analysts expect that NetApp will post 3.72 earnings per share for the current fiscal year.
Several research firms have recently weighed in on NTAP. Susquehanna Bancshares restated a buy rating and set a $85.00 price objective on shares of NetApp in a research report on Monday. Credit Suisse Group cut their target price on shares of NetApp from $70.00 to $68.00 and set an outperform rating for the company in a research report on Thursday. TheStreet cut NetApp from a b rating to a c+ rating in a research note on Wednesday. Loop Capital raised their price target on NetApp to $70.00 and gave the company a buy rating in a research report on Thursday, November 14th. Finally, Oppenheimer reaffirmed a hold rating on shares of NetApp in a research note on Wednesday. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $64.00.
In other news, EVP Henri P. Richard sold 2,500 shares of NetApp stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $64.20, for a total value of $160,500.00. Following the transaction, the executive vice president now owns 143,855 shares in the company, valued at $9,235,491. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Scott R. Allen sold 2,781 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $62.23, for a total value of $173,061.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,284 shares of company stock valued at $333,743. Company insiders own 0.33% of the company’s stock.
NetApp Company Profile
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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