NetApp edges up ahead of results, focus on revenue
NTAP•Revenue and earnings expectations
The data storage and management company is expected to report quarterly revenue up 18% to $1.84 billion and adjusted earnings per share of $2.12, versus $1.55 a year ago, according to LSEG.
The stock has jumped about 72% year to date, outperforming the Nasdaq's 13% rise.
The stock is about 12% below its all-time intraday high of $209.06 reached on August 13, 2026.
NetApp recently traded at 19 times expected earnings, versus its five-year average forward P/E of 14, per LSEG data.
Shares rise ahead of quarterly results
NetApp Inc. NTAP.O shares were up 0.4% at $183.81 on Wednesday ahead of quarterly results after the bell, with investors watching for ongoing strong demand for hybrid cloud services.
