NetApp (Nasdaq: NTAP) is expected to report Q2 earnings on Nov. 14. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict NetApp's revenues will grow 2.1% and EPS will compress -23.8%.

The average estimate for revenue is $1.54 billion. On the bottom line, the average EPS estimate is $0.48.

Revenue details
 Last quarter, NetApp recorded revenue of $1.44 billion. GAAP reported sales were 0.9% lower than the prior-year quarter's $1.46 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.42. GAAP EPS of $0.17 for Q1 were 50% lower than the prior-year quarter's $0.34 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 58.8%, 270 basis points worse than the prior-year quarter. Operating margin was 5.6%, 660 basis points worse than the prior-year quarter. Net margin was 4.4%, 520 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $6.36 billion. The average EPS estimate is $2.08.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 567 members out of 641 rating the stock outperform, and 74 members rating it underperform. Among 151 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 132 give NetApp a green thumbs-up, and 19 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on NetApp is outperform, with an average price target of $35.16.

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