NetApp Stock Leaps 30% After $1.95B Q4 Revenue, $7.3–7.6B FY Outlook
NTAP•NetApp reported fiscal Q4 revenue of $1.948B and net income of $404M, driven by 12% overall revenue growth, 11% public-cloud growth and 13% hybrid-cloud growth. The company forecast Q1 revenue of $1.83B and full-year sales of $7.3B–$7.6B, fueling a 30% stock surge.
1. Q4 Financial Performance
NetApp reported fiscal fourth-quarter revenue of $1.948 billion and net income of $404 million, marking 12% overall revenue growth. Public-cloud sales rose 11% and hybrid-cloud sales climbed 13%, reflecting strong enterprise AI and hybrid cloud demand.
2. Guidance and Outlook
The company forecast first-quarter revenue of $1.83 billion and set full-year sales guidance between $7.3 billion and $7.6 billion, a range viewed as conservative by investors expecting further pricing tailwinds in key cloud segments.
3. Stock Reaction and Analyst Updates
Shares jumped 30% after the earnings release and guidance, prompting Barclays to raise its price target to $199, Wedbush to increase its target to $150 and Morgan Stanley to lift its target to $137, highlighting varied analyst perspectives.
