NetApp's stock soars 33% after strong earnings and $1B buyback plan
NetApp’s stock price has jumped by a third after the company revealed strong financial results and new investor plans. Shares climbed to around $189, nearing a record high not seen since the dot-com boom. The surge follows a mix of better-than-expected revenue and fresh shareholder incentives. The company’s latest quarterly report showed revenue of $1.95 billion, exceeding Wall Street’s forecast of $1.87 billion. However, earnings per share came in at $2.03, falling short of the $2.27 analysts had predicted.
Looking ahead, NetApp set its fiscal 2027 revenue guidance between $7.33 billion and $7.58 billion. This range sits above the $7.20 billion estimate from financial experts, signalling confidence in future growth. To further reward investors, NetApp announced a $1 billion share buyback programme alongside a quarterly dividend. The move prompted Northland Securities to lift its price target to $171, keeping an outperform rating. Meanwhile, the average analyst target remains at $127.18, well below the current trading level.
The stock’s sharp rise reflects investor optimism about NetApp’s financial health and long-term strategy. With shares approaching a 24-year peak, the company’s buyback plan and revenue outlook appear to have strengthened market confidence. Analysts continue to adjust their expectations as the stock outperforms previous highs.
