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What Analyst Projections for Key Metrics Reveal About NetApp (NTAP) Q1 Earnings
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Analysts on Wall Street project that NetApp (NTAP - Free Report) will announce quarterly earnings of $2.13 per share in its forthcoming report, representing an increase of 37.4% year over year. Revenues are projected to reach $1.84 billion, increasing 18.2% from the same quarter last year.
The current level reflects an upward revision of 1.3% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific NetApp metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Net revenues- Services' will reach $1.04 billion. The estimate indicates a year-over-year change of +15.4%.
The consensus estimate for 'Net revenues- Public Cloud' stands at $196.19 million. The estimate points to a change of +21.9% from the year-ago quarter.
Analysts' assessment points toward 'Net revenues- Hybrid Cloud' reaching $1.65 billion. The estimate indicates a change of +18.3% from the prior-year quarter.
The consensus among analysts is that 'Gross margin - Product - Non-GAAP' will reach 50.8%. The estimate compares to the year-ago value of 54.0%.
Analysts forecast 'Gross margin - Services - Non-GAAP' to reach 84.1%. The estimate compares to the year-ago value of 83.4%.
Analysts expect 'Gross Profit- Products' to come in at $409.92 million. The estimate is in contrast to the year-ago figure of $353.00 million.
The collective assessment of analysts points to an estimated 'Gross Profit- Public Cloud' of $172.50 million. The estimate compares to the year-ago value of $129.00 million.
It is projected by analysts that the 'Gross Profit- Professional and Other Services' will reach $35.30 million. The estimate compares to the year-ago value of $29.00 million.
Based on the collective assessment of analysts, 'Gross Profit- Hybrid Cloud' should arrive at $1.13 billion. Compared to the present estimate, the company reported $979.00 million in the same quarter last year.
The average prediction of analysts places 'Gross Profit- Support' at $754.44 million. Compared to the present estimate, the company reported $597.00 million in the same quarter last year.
According to the collective judgment of analysts, 'Cost of revenues- Cost of product' should come in at $391.77 million.
The combined assessment of analysts suggests that 'Cost of revenues- Cost of services' will likely reach $169.80 million.
Over the past month, shares of NetApp have returned +9.6% versus the Zacks S&P 500 composite's +4.3% change. Currently, NTAP carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
View the Zacks #1 Rank List
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What Analyst Projections for Key Metrics Reveal About NetApp (NTAP) Q1 Earnings
Analysts on Wall Street project that NetApp (NTAP - Free Report) will announce quarterly earnings of $2.13 per share in its forthcoming report, representing an increase of 37.4% year over year. Revenues are projected to reach $1.84 billion, increasing 18.2% from the same quarter last year.
The current level reflects an upward revision of 1.3% 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.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Given this perspective, it's time to examine the average forecasts of specific NetApp metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts predict that the 'Net revenues- Services' will reach $1.04 billion. The estimate indicates a year-over-year change of +15.4%.
The consensus estimate for 'Net revenues- Public Cloud' stands at $196.19 million. The estimate points to a change of +21.9% from the year-ago quarter.
Analysts' assessment points toward 'Net revenues- Hybrid Cloud' reaching $1.65 billion. The estimate indicates a change of +18.3% from the prior-year quarter.
The consensus among analysts is that 'Gross margin - Product - Non-GAAP' will reach 50.8%. The estimate compares to the year-ago value of 54.0%.
Analysts forecast 'Gross margin - Services - Non-GAAP' to reach 84.1%. The estimate compares to the year-ago value of 83.4%.
Analysts expect 'Gross Profit- Products' to come in at $409.92 million. The estimate is in contrast to the year-ago figure of $353.00 million.
The collective assessment of analysts points to an estimated 'Gross Profit- Public Cloud' of $172.50 million. The estimate compares to the year-ago value of $129.00 million.
It is projected by analysts that the 'Gross Profit- Professional and Other Services' will reach $35.30 million. The estimate compares to the year-ago value of $29.00 million.
Based on the collective assessment of analysts, 'Gross Profit- Hybrid Cloud' should arrive at $1.13 billion. Compared to the present estimate, the company reported $979.00 million in the same quarter last year.
The average prediction of analysts places 'Gross Profit- Support' at $754.44 million. Compared to the present estimate, the company reported $597.00 million in the same quarter last year.
According to the collective judgment of analysts, 'Cost of revenues- Cost of product' should come in at $391.77 million.
The combined assessment of analysts suggests that 'Cost of revenues- Cost of services' will likely reach $169.80 million.
View all Key Company Metrics for NetApp here>>>Over the past month, shares of NetApp have returned +9.6% versus the Zacks S&P 500 composite's +4.3% change. Currently, NTAP carries a Zacks Rank #2 (Buy), suggesting that it may outperform. the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .