NetApp's stock surged 14.82% in pre-market trading following the release of its fiscal fourth-quarter results, which significantly exceeded Wall Street expectations.

The data infrastructure company reported adjusted earnings per share of $2.43, beating the analyst consensus estimate of $2.27. Revenue for the quarter came in at $1.95 billion, surpassing the expected $1.87 billion and marking a 12% year-over-year increase. The strong performance was driven by record all-flash array revenue, which grew 18%, and continued robust demand in the hybrid and public cloud segments.

Investor sentiment was further bolstered by NetApp's upbeat guidance for fiscal year 2027. The company projected revenue in the range of $7.325 billion to $7.575 billion, above the consensus estimate of $7.20 billion. Adjusted EPS guidance of $8.70 to $9.00 also topped the analyst forecast of $8.55. Additionally, the company announced a new $1 billion share repurchase program, highlighting its strong cash flow generation. Analyst firm TD Cowen raised its price target on NetApp to $200 from $130, citing the company's strong execution and growth prospects in AI-driven data infrastructure.