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NetApp (NTAP) Q1 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
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Wall Street analysts expect NetApp (NTAP - Free Report) to post quarterly earnings of $1.46 per share in its upcoming report, which indicates a year-over-year increase of 27%. Revenues are expected to be $1.53 billion, up 7.1% from the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some NetApp metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Revenue- Product' will likely reach $672.40 million. The estimate points to a change of +14% from the year-ago quarter.
The consensus estimate for 'Net Service revenue' stands at $861.81 million. The estimate indicates a year-over-year change of +2.4%.
According to the collective judgment of analysts, 'Net Revenue- Public Cloud' should come in at $157.06 million. The estimate points to a change of +2% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Professional and Other Services' will reach $81.54 million. The estimate suggests a change of +5.9% year over year.
Based on the collective assessment of analysts, 'Revenue- Support' should arrive at $623.33 million. The estimate indicates a change of +2% from the prior-year quarter.
The consensus among analysts is that 'Net Revenue- Hybrid Cloud' will reach $1.38 billion. The estimate indicates a year-over-year change of +7.8%.
Analysts forecast 'Gross margin - Product - Non GAAP' to reach 60.2%. The estimate is in contrast to the year-ago figure of 55.3%.
The average prediction of analysts places 'Services gross margin - Non-GAAP' at 81.2%. The estimate compares to the year-ago value of 81.5%.
Analysts' assessment points toward 'Geographic Mix- Asia-Pacific' reaching 15.3%. Compared to the current estimate, the company reported 16% in the same quarter of the previous year.
Analysts expect 'Americas - Reported' to come in at 51.0%. Compared to the current estimate, the company reported 53% in the same quarter of the previous year.
Analysts predict that the 'Geographic Mix- EMEA' will reach 33.7%. Compared to the present estimate, the company reported 31% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Billings' of $1.34 billion. Compared to the current estimate, the company reported $1.30 billion in the same quarter of the previous year.
Over the past month, NetApp shares have recorded returns of +4.8% versus the Zacks S&P 500 composite's +0.3% change. Based on its Zacks Rank #3 (Hold), NTAP will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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NetApp (NTAP) Q1 Earnings on the Horizon: Analysts' Insights on Key Performance Measures
Wall Street analysts expect NetApp (NTAP - Free Report) to post quarterly earnings of $1.46 per share in its upcoming report, which indicates a year-over-year increase of 27%. Revenues are expected to be $1.53 billion, up 7.1% from the year-ago quarter.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
That said, let's delve into the average estimates of some NetApp metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Revenue- Product' will likely reach $672.40 million. The estimate points to a change of +14% from the year-ago quarter.
The consensus estimate for 'Net Service revenue' stands at $861.81 million. The estimate indicates a year-over-year change of +2.4%.
According to the collective judgment of analysts, 'Net Revenue- Public Cloud' should come in at $157.06 million. The estimate points to a change of +2% from the year-ago quarter.
It is projected by analysts that the 'Revenue- Professional and Other Services' will reach $81.54 million. The estimate suggests a change of +5.9% year over year.
Based on the collective assessment of analysts, 'Revenue- Support' should arrive at $623.33 million. The estimate indicates a change of +2% from the prior-year quarter.
The consensus among analysts is that 'Net Revenue- Hybrid Cloud' will reach $1.38 billion. The estimate indicates a year-over-year change of +7.8%.
Analysts forecast 'Gross margin - Product - Non GAAP' to reach 60.2%. The estimate is in contrast to the year-ago figure of 55.3%.
The average prediction of analysts places 'Services gross margin - Non-GAAP' at 81.2%. The estimate compares to the year-ago value of 81.5%.
Analysts' assessment points toward 'Geographic Mix- Asia-Pacific' reaching 15.3%. Compared to the current estimate, the company reported 16% in the same quarter of the previous year.
Analysts expect 'Americas - Reported' to come in at 51.0%. Compared to the current estimate, the company reported 53% in the same quarter of the previous year.
Analysts predict that the 'Geographic Mix- EMEA' will reach 33.7%. Compared to the present estimate, the company reported 31% in the same quarter last year.
The collective assessment of analysts points to an estimated 'Billings' of $1.34 billion. Compared to the current estimate, the company reported $1.30 billion in the same quarter of the previous year.
View all Key Company Metrics for NetApp here>>>
Over the past month, NetApp shares have recorded returns of +4.8% versus the Zacks S&P 500 composite's +0.3% change. Based on its Zacks Rank #3 (Hold), NTAP will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>