NetApp Likely To Report Lower Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

NetApp, Inc. NTAP is projected to release financial results for the second quarter of fiscal year 2024, after the closing bell on Nov. 28, 2023.

Analysts expect the company to post quarterly earnings at $1.39 per share, down from year-ago earnings of $1.48 per share. The company’s revenue might come in at $1.53 billion for the latest quarter, according to data from Benzinga Pro.

NetApp recently announced the renewal of its collaboration with Microsoft.

NetApp shares gained 0.5% to close at $78.34 on Friday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

• TD Cowen analyst Krish Sankar maintained an Outperform rating and raised the price target from $85 to $90 on Aug. 24, 2023. This analyst has an accuracy rate of 73%.
• Stifel analyst Matthew Sheerin maintained a Buy rating and boosted the price target from $80 to $85 on Aug. 24, 2023. This analyst has an accuracy rate of 73%.
• UBS analyst David Vogt maintained a Neutral rating and increased the price target from $77 to $84 on Aug. 24, 2023. This analyst has an accuracy rate of 77%.
• Wedbush analyst Matt Bryson reiterated a Neutral rating with a price target of $75 on Aug. 24, 2023. This analyst has an accuracy rate of 84%.
• Citigroup analyst Jim Suva maintained a Neutral rating and increased the price target from $80 to $83 on Aug. 24, 2023. This analyst has an accuracy rate of 72%.

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