On May 29, NetApp surged 23.1% in regular trading, trading at $180.53/share, with trading volume of $134 million. The rally was driven by the company's fiscal Q4 results and upbeat forward guidance that significantly exceeded Wall Street consensus.

NetApp reported fiscal Q4 adjusted EPS of $2.43, beating the consensus estimate of $2.27 by 7.05% and representing a 25.91% year-over-year increase. Revenue came in at $1.948 billion, surpassing the expected $1.872 billion with approximately 12.7% year-over-year growth. The all-flash array business grew 18% YoY to a record $1.22 billion, while public cloud revenue rose 11% to $182 million.

The company also issued full-year FY2027 guidance well above consensus, projecting adjusted EPS of $8.70-$9.00 versus the Street estimate of $8.55, and revenue of $7.325-$7.575 billion versus the expected $7.20 billion. Citi raised its target price from $114 to $150. Analysts attributed the strength to higher pricing, AI-related deal wins, and accelerating demand from hyperscale cloud partnerships with Microsoft Azure, Amazon AWS, and Google Cloud.

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