NetApp Q4 Revenue Hits $1.95B, EPS $2.43 on 500 AI Deals; Target Raised to $200
NTAP•NetApp reported Q4 FY26 revenue of $1.95 billion and EPS of $2.43, driven by approximately 500 new enterprise AI deals that surpassed market expectations. Goldman Sachs maintained its Buy rating and raised its price target to $200, and management forecast FY27 revenue of $7.33 billion to $7.58 billion.
1. Q4 FY26 Financial Results
NetApp reported revenue of $1.95 billion and EPS of $2.43 for its fiscal fourth quarter, both surpassing consensus estimates and highlighting strong enterprise spending trends.
2. Strength in AI Demand
The company secured approximately 500 new AI-related deals during the quarter, reflecting increased corporate investment in AI infrastructure and data management services.
3. Analyst Actions
Goldman Sachs maintained its Buy rating on NetApp and raised its price target from $127 to $200, signaling heightened confidence in the company’s AI-driven growth and recent earnings momentum.
4. FY27 Guidance
NetApp projected fiscal 2027 revenue between $7.33 billion and $7.58 billion, suggesting continued low double-digit growth and setting a positive outlook for the upcoming year.
