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Wall Street's Insights Into Key Metrics Ahead of NetApp (NTAP) Q4 Earnings
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Wall Street analysts expect NetApp (NTAP - Free Report) to post quarterly earnings of $2.27 per share in its upcoming report, which indicates a year-over-year increase of 17.6%. Revenues are expected to be $1.86 billion, up 7.6% from the year-ago quarter.
The current level reflects an upward revision of 0.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain NetApp metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net revenues- Services' to come in at $948.67 million. The estimate indicates a year-over-year change of +7%.
According to the collective judgment of analysts, 'Net revenues- Product' should come in at $910.27 million. The estimate points to a change of +7.7% from the year-ago quarter.
The consensus among analysts is that 'Net revenues- Public Cloud' will reach $182.00 million. The estimate indicates a year-over-year change of +11%.
Analysts forecast 'Net revenues- Hybrid Cloud' to reach $1.67 billion. The estimate indicates a change of +6.7% from the prior-year quarter.
Analysts predict that the 'Net revenues- Support' will reach $663.96 million. The estimate indicates a year-over-year change of +6.2%.
Based on the collective assessment of analysts, 'Net revenues- Professional and Other Services' should arrive at $111.21 million. The estimate indicates a change of +13.5% from the prior-year quarter.
The average prediction of analysts places 'Gross margin - Product - Non-GAAP' at 55.5%. The estimate compares to the year-ago value of 55.4%.
The combined assessment of analysts suggests that 'Gross margin - Services - Non-GAAP' will likely reach 84.0%. Compared to the present estimate, the company reported 82.9% in the same quarter last year.
The consensus estimate for 'Total Revenue - % Change' stands at 7.4%. The estimate compares to the year-ago value of 4.0%.
It is projected by analysts that the 'Gross Profit- Products' will reach $505.36 million. The estimate compares to the year-ago value of $468.00 million.
The collective assessment of analysts points to an estimated 'Gross Profit- Public Cloud' of $155.08 million. Compared to the current estimate, the company reported $130.00 million in the same quarter of the previous year.
Analysts' assessment points toward 'Gross Profit- Professional and Other Services' reaching $34.72 million. The estimate compares to the year-ago value of $28.00 million.
Shares of NetApp have experienced a change of +14.3% in the past month compared to the +5.5% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), NTAP is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Wall Street's Insights Into Key Metrics Ahead of NetApp (NTAP) Q4 Earnings
Wall Street analysts expect NetApp (NTAP - Free Report) to post quarterly earnings of $2.27 per share in its upcoming report, which indicates a year-over-year increase of 17.6%. Revenues are expected to be $1.86 billion, up 7.6% from the year-ago quarter.
The current level reflects an upward revision of 0.9% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain NetApp metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts expect 'Net revenues- Services' to come in at $948.67 million. The estimate indicates a year-over-year change of +7%.
According to the collective judgment of analysts, 'Net revenues- Product' should come in at $910.27 million. The estimate points to a change of +7.7% from the year-ago quarter.
The consensus among analysts is that 'Net revenues- Public Cloud' will reach $182.00 million. The estimate indicates a year-over-year change of +11%.
Analysts forecast 'Net revenues- Hybrid Cloud' to reach $1.67 billion. The estimate indicates a change of +6.7% from the prior-year quarter.
Analysts predict that the 'Net revenues- Support' will reach $663.96 million. The estimate indicates a year-over-year change of +6.2%.
Based on the collective assessment of analysts, 'Net revenues- Professional and Other Services' should arrive at $111.21 million. The estimate indicates a change of +13.5% from the prior-year quarter.
The average prediction of analysts places 'Gross margin - Product - Non-GAAP' at 55.5%. The estimate compares to the year-ago value of 55.4%.
The combined assessment of analysts suggests that 'Gross margin - Services - Non-GAAP' will likely reach 84.0%. Compared to the present estimate, the company reported 82.9% in the same quarter last year.
The consensus estimate for 'Total Revenue - % Change' stands at 7.4%. The estimate compares to the year-ago value of 4.0%.
It is projected by analysts that the 'Gross Profit- Products' will reach $505.36 million. The estimate compares to the year-ago value of $468.00 million.
The collective assessment of analysts points to an estimated 'Gross Profit- Public Cloud' of $155.08 million. Compared to the current estimate, the company reported $130.00 million in the same quarter of the previous year.
Analysts' assessment points toward 'Gross Profit- Professional and Other Services' reaching $34.72 million. The estimate compares to the year-ago value of $28.00 million.
View all Key Company Metrics for NetApp here>>>Shares of NetApp have experienced a change of +14.3% in the past month compared to the +5.5% move of the Zacks S&P 500 composite. With a Zacks Rank #4 (Sell), NTAP is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .