Equity Profile

NTAP

NetApp, Inc.

Information TechnologyTechnology Hardware, Storage & Peripherals$33.0B

Sep2Wed

Pre-Earnings Brief

UpcomingQ1-2027After Close5:00 PM EDT

Company Snapshot

NetApp, Inc. is a technology company that specializes in data storage solutions and management....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing its costs and generating income.

N/A

Revenue Growth

Revenue growth reflects the company's ability to increase sales and capture market share, which is critical in the competitive tech landscape.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NTAP Q1-2027 Earnings Preview

Context

Company Snapshot

NetApp, Inc. is a technology company that specializes in data storage solutions and management. Operating in the Information Technology sector, it plays a crucial role in helping businesses manage their data efficiently, especially as demand for cloud services and data analytics continues to rise.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+28.15%

Avg Stock Reaction

-0.24%

Last Quarter Recap

In the last quarter, NetApp reported an EPS of $2.43, significantly exceeding expectations by 29.19%. However, the stock saw a slight decline the following day, indicating mixed market reactions despite strong earnings.

Management Promises & Guidance

Continued focus on cloud solutions and data management.
Commitment to improving operational efficiencies.
Plans to enhance customer engagement and support.

Expectations

Wall Street Expectations

Overall, investors are cautiously optimistic about NetApp's upcoming earnings, especially given its strong track record of beating EPS estimates. However, there are concerns about revenue growth and market competition.

Bull Case

If NetApp can demonstrate strong revenue growth, particularly in its cloud services, it could solidify its position as a leader in data management solutions and drive the stock higher.

Bear Case

Conversely, if the company fails to meet expectations for revenue growth or shows signs of increased competition, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported revenue growth rate for cloud services?

This metric is crucial as it reflects NetApp's ability to capitalize on the growing demand for cloud solutions, which is a key driver for future growth.

How does management plan to address competitive pressures in the storage market?

Understanding management's strategy to tackle competition will provide insights into the company's long-term viability and market positioning.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating NetApp's potential for cloud revenue growth, especially given its recent investments in new technologies and customer engagement strategies.

Supporting Evidence

NetApp has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing in a larger move than historical averages suggest, indicating heightened expectations.

Insider selling activity may not reflect a lack of confidence in the company's future prospects.

Key Risk

If cloud revenue growth exceeds 20%, it could lead to a significant reevaluation of the company's growth prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around NetApp's ability to sustain growth in a competitive environment, particularly in the cloud services sector.

Bull Confirmed If

A cloud services revenue growth rate of 20% or higher would confirm the bullish outlook.

Bear Confirmed If

Any revenue growth below 10% could signal significant challenges ahead.

Pre-Earnings Positioning

Options Market

Implied Move

±6.62%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a significant move, suggesting that investors are anticipating volatility around the earnings report.

Options are pricing ±6.6% while NTAP has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

69.8%

Calls (787K)P/C Ratio: 0.26Puts (527K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Information Technology

n=30

Fade rate: 5 of 10 (50%)

This setup has occurred 30 times across Information Technology in the last 2 years. 5 of 10 faded and 5 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.4%, with a raw directional average of -0.5% (modestly negative historical bias).

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$96,250.00

1,000 sh

1 insider

Net

$96,250.00

Net selling

Most Active Insiders· 1 open-market trade

EVP, Chief Admin. OfficerO'Callahan Elizabeth M
$96,250.00

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NetApp beats expectations and raises guidance, history suggests a potential stock increase of around 2.09% on the following day.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see muted movement as investors digest the news.

Miss

Should the company miss expectations, history indicates a potential decline of around 0.24% in the stock price.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

Senate only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

R-ARJohn BoozmanSen.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on cloud services revenue growth and future projections.
2Management's strategy for addressing competitive pressures in the storage market.
3Any new partnerships or customer acquisitions that could drive future growth.
4Insights into operational efficiencies and cost management strategies.
5Feedback on customer demand trends and market dynamics.

See the full picture

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More Earnings This Week

5 Reports

Frontline plc

Company Snapshot

NetApp, Inc. is a technology company that specializes in data storage solutions and management....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of profitability and will show how well the company is managing its costs and generating income.

N/A

Revenue Growth

Revenue growth reflects the company's ability to increase sales and capture market share, which is critical in the competitive tech landscape.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

NTAP Q1-2027 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+28.15%

Avg Stock Reaction

-0.24%

Last Quarter Recap

Management Promises & Guidance

Continued focus on cloud solutions and data management.
Commitment to improving operational efficiencies.
Plans to enhance customer engagement and support.

Expectations

Wall Street Expectations

Bull Case

If NetApp can demonstrate strong revenue growth, particularly in its cloud services, it could solidify its position as a leader in data management solutions and drive the stock higher.

Bear Case

Conversely, if the company fails to meet expectations for revenue growth or shows signs of increased competition, it could lead to a negative reaction in the stock price.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will be the reported revenue growth rate for cloud services?

This metric is crucial as it reflects NetApp's ability to capitalize on the growing demand for cloud solutions, which is a key driver for future growth.

How does management plan to address competitive pressures in the storage market?

Understanding management's strategy to tackle competition will provide insights into the company's long-term viability and market positioning.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating NetApp's potential for cloud revenue growth, especially given its recent investments in new technologies and customer engagement strategies.

Supporting Evidence

NetApp has consistently beaten EPS estimates, indicating strong operational performance.

The options market is pricing in a larger move than historical averages suggest, indicating heightened expectations.

Insider selling activity may not reflect a lack of confidence in the company's future prospects.

Key Risk

If cloud revenue growth exceeds 20%, it could lead to a significant reevaluation of the company's growth prospects.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

The core thesis revolves around NetApp's ability to sustain growth in a competitive environment, particularly in the cloud services sector.

Bull Confirmed If

A cloud services revenue growth rate of 20% or higher would confirm the bullish outlook.

Bear Confirmed If

Any revenue growth below 10% could signal significant challenges ahead.

Pre-Earnings Positioning

Options Market

Implied Move

±6.62%

Historical Avg

±2.1%

Pricing rich

The options market is pricing in a significant move, suggesting that investors are anticipating volatility around the earnings report.

Options are pricing ±6.6% while NTAP has averaged ±2.1% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.5%

30d HV

69.8%

Calls (787K)P/C Ratio: 0.26Puts (527K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Information Technology

n=30

Fade rate: 5 of 10 (50%)

Edge

Insider Activity

Open-market trades by officers, directors, and 10%+ holders over the trailing 90 days.

Bought

$0.00

0 sh

0 insiders

Sold

$96,250.00

1,000 sh

1 insider

Net

$96,250.00

Net selling

Most Active Insiders· 1 open-market trade

EVP, Chief Admin. OfficerO'Callahan Elizabeth M
$96,250.00

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If NetApp beats expectations and raises guidance, history suggests a potential stock increase of around 2.09% on the following day.

In-Line / Cautious

If results are in line but management provides cautious commentary, the stock may see muted movement as investors digest the news.

Miss

Should the company miss expectations, history indicates a potential decline of around 0.24% in the stock price.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

1 buy·0 sells

Members

Senate only

Est. Notional

$1,001.00–$15,000.00

disclosed dollar ranges

Most Active Members

R-ARJohn BoozmanSen.
1

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on cloud services revenue growth and future projections.
2Management's strategy for addressing competitive pressures in the storage market.
3Any new partnerships or customer acquisitions that could drive future growth.
4Insights into operational efficiencies and cost management strategies.
5Feedback on customer demand trends and market dynamics.