NetApp Stock Rises Ahead of Q2 Earnings: Retail Remains Cautious

Retail sentiment on the stock fell to ‘neutral’ from ‘extremely bullish’ a day ago.

Shares of NetApp Inc. ($NTAP) were up nearly 2% on Thursday morning ahead of the intelligent data infrastructure provider’s second-quarter earnings release, but retail sentiment dipped.

Wall Street analysts expect the San Jose-based NetApp to report earnings per share (EPS) of $1.78 on revenue of $1.65 billion, according to Stocktwits data. The company has beaten its earnings estimates in all four quarters in the past year.

For its first quarter, NetApp’s revenues grew 8% year-over-year to $1.54 billion, beating estimates.

Earlier this week, BofA Securities increased its price target on NetApp's stock to $115 from $110, with an ‘Underperform’ rating. According to a consensus of 17 analyst estimates tracked by Finchat, NetApp’s median price target stands at $134.

Retail sentiment on the stock fell to ‘neutral’ (47/100) from ‘extremely bullish’ (93/100) a day ago. Message volumes continued to be in the ‘extremely high’ levels.

"We started fiscal year 2025 on a high note, delivering strong revenue growth and setting records for first quarter operating margin and EPS. These results are a testament to our strong execution in a continued uncertain macroeconomic environment, our unwavering confidence in the customer benefits of the highly differentiated NetApp intelligent data infrastructure platform, and our disciplined management of the business," George Kurian, NetApp CEO, said during the company’s first quarter earnings.

NetApp stock is up 44.5% year-to-date.