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Valued at a market cap of $23.3 billion, NetApp, Inc. (NTAP) is a leading provider of cloud-led, data-centric software and storage solutions that help enterprises manage and protect their data across on-premises and cloud environments. The San Jose, California-based company enables organizations to accelerate digital transformation by simplifying data management and optimizing performance, security, and cost efficiency. It is scheduled to announce its fiscal Q2 earnings for 2026 in the near future. Ahead of this event, analysts expect this tech company to report a profit of $1.51 per share, down 1.3% from $1.53 per share in the year-ago quarter. The company has met or surpassed Wall Street’s earnings estimates in three of the last four quarters, while missing on another occasion. In Q1, NTAP’s EPS of $1.19 met the forecasted figure. For fiscal 2026, analysts expect NTAP to report a profit of $6.27 per share, up 8.3% from $5.79 per share in fiscal 2025. Furthermore, its EPS is expected to grow 13.2% year-over-year to $7.10 in fiscal 2027. NetApp has declined 1.9% over the past 52 weeks, considerably underperforming both the S&P 500 Index's ($SPX) 18.4% return and the Technology Select Sector SPDR Fund’s (XLK) 29.8% uptick over the same time frame. On Aug. 27, NetApp posted better-than-expected Q1 earnings results, leading to a 4.5% rise in its share price in the following trading session. The company’s revenue improved 1.2% year-over-year to $1.6 billion, surpassing consensus estimates by 1.3%. Moreover, while its adjusted EPS of $1.55 declined marginally from the year-ago quarter, it topped analyst expectations by a penny. Additionally, its adjusted billings of $1.5 billion advanced 4.3%, marking the seventh consecutive quarter of year-over-year growth. Wall Street analysts are moderately optimistic about NTAP’s stock, with an overall "Moderate Buy" rating. Among 19 analysts covering the stock, six recommend "Strong Buy," and 13 suggest "Hold.” The mean price target for NTAP is $121.73, indicating a 3.9% potential upside from the current levels.
