NetApp's stock hits all-time high after beating revenue expectations
NetApp’s latest financial results have sent its share price soaring. The company reported a 12.5% year-on-year revenue increase in the fourth quarter, beating expectations. Investors responded by driving the stock to a record high on Friday. The tech firm posted fourth-quarter revenue of $1.95 billion, exceeding the $1.87 billion analysts had predicted. While earnings per share came in at $2.03—below the $2.27 consensus—the company’s overall performance impressed markets.
NetApp also announced a $1 billion share buyback programme and kept its quarterly dividend unchanged. Financial strength was further highlighted by an 118.11% return on equity and an 18.07% net margin.
Looking ahead, the company forecast fiscal 2027 revenue between $7.33 billion and $7.58 billion, above Wall Street’s $7.20 billion estimate. Earnings per share for the same period are expected to range from $8.70 to $9.00, slightly above the $8.53 consensus.
The positive outlook prompted Northland Securities to raise its price target to $171, maintaining an outperform rating. By Friday, NetApp’s shares had surged roughly 33%, closing near $189 and surpassing its previous all-time high of $148.63 set in October 2000. NetApp’s strong revenue growth and optimistic projections have boosted investor confidence. The company’s share price now stands at a historic peak, reflecting market approval of its financial strategy. Analysts continue to view the stock favourably as it moves into the new fiscal year.
