Data storage company NetApp (NASDAQ: NTAP) will be announcing earnings results this Tuesday after market close. Here’s what investors should know.
NetApp beat analysts’ revenue expectations by 0.9% last quarter, reporting revenues of $1.56 billion, up 1.2% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ billings estimates but full-year revenue guidance meeting analysts’ expectations.
Is NetApp a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting NetApp’s revenue to grow 1.7% year on year to $1.69 billion, slowing from the 6.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.89 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. NetApp has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 0.6% on average.
Looking at NetApp’s peers in the hardware & infrastructure segment, some have already reported their Q3 results, giving us a hint as to what we can expect. IonQ delivered year-on-year revenue growth of 222%, beating analysts’ expectations by 47.8%, and Diebold Nixdorf reported revenues up 2%, topping estimates by 1.7%. IonQ traded up 3.6% following the results while Diebold Nixdorf was also up 16.6%.
Read our full analysis of IonQ’s results here and Diebold Nixdorf’s results here.
The euphoria surrounding Trump’s November win lit a fire under major indices, but potential tariffs have caused the market to do a 180 in 2025. While some of the hardware & infrastructure stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 8.3% on average over the last month. NetApp is down 8.4% during the same time and is heading into earnings with an average analyst price target of $121.27 (compared to the current share price of $107.33).
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