Movement Alert｜NetApp Rises 23.1% in Regular Trading, Q4 Earnings and Full-Year Guidance Both Significantly Beat Expectations

Market Focus

May 29

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.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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