NetApp Gears Up For Q1 Print; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

NetApp, Inc. NTAP is expected to report financial results for the first quarter of fiscal year 2024 which ended July 28, 2023, after the closing bell on Aug. 23, 2023.

Analysts expect the company to post quarterly earnings at $1.07 per share, down from year-ago earnings of $1.20 per share. The company’s revenue might come in at $1.41 billion, compared to $1.59 billion in the year-ago period.

NetApp shares rose 0.1% to close at $76.51 on Tuesday.

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.

• Deutsche Bank analyst Sidney Ho maintained a Buy rating and raised the price target from $75 to $80 on Aug. 21, 2023. This analyst has an accuracy rate of 81%.
• Morgan Stanley analyst Meta Marshall upgraded the stock from Underweight to Equal-Weight and raised the price target from $60 to $74 on July 26, 2023. This analyst has an accuracy rate of 73%.
• Evercore ISI Group analyst Amit Daryanani maintained an In-Line rating and boosted the price target from $72 to $80 on July 5, 2023. This analyst has an accuracy rate of 70%.
• UBS analyst David Vogt maintained a Neutral rating and increased the price target from $74 to $77 on June 1, 2023. This analyst has an accuracy rate of 73%.
• Wedbush analyst Matt Bryson maintained a Neutral rating and boosted the price target from $70 to $75 on June 1, 2023. This analyst has an accuracy rate of 78%.

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