NetApp (Nasdaq: NTAP) is expected to report Q3 earnings on Feb. 13. 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 increase 3.7% and EPS will contract -3.4%.

The average estimate for revenue is $1.62 billion. On the bottom line, the average EPS estimate is $0.56.

Revenue details
Last quarter, NetApp reported revenue of $1.54 billion. GAAP reported sales were 2.3% higher than the prior-year quarter's $1.51 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 $0.51. GAAP EPS of $0.30 for Q2 were 32% lower than the prior-year quarter's $0.44 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 59.3%, 130 basis points worse than the prior-year quarter. Operating margin was 8.8%, 410 basis points worse than the prior-year quarter. Net margin was 7.1%, 390 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 $2.14.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 559 members out of 636 rating the stock outperform, and 77 members rating it underperform. Among 164 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 148 give NetApp a green thumbs-up, and 16 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 $36.76.

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