NetApp Reports Fourth Quarter and Fiscal Year 2021 Results
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NetApp (NTAP) Beats Q4 Expectations, Analysts Raise PT After a 'Breakout Cloud Quarter'
June 3, 2021 10:12 AM EDTShares of NetApp (NASDAQ: NTAP) are trading 2% higher today after the cloud company delivered better-than-expected results for its fiscal fourth quarter.
Strong results were driven by robust growth in its public cloud services unit. The data storage provider said its annualized revenue run rate (ARR) in the unit rose by 171% year-on-year to $301 million.
Moreover, the company reported a non-GAAP net income of $334 million, or $1.46 per share. Revenue came in at $1.56 billion, compared to the revenue of $1.4 billion and non-GAAP earnings per share of $1.17 from last year. Analysts were expecting EPS of... More
NetApp (NTAP) PT Raised to $95 at Susquehanna
June 3, 2021 9:11 AM EDTSusquehanna analyst Mehdi Hosseini raised the price target on NetApp (NASDAQ: NTAP) to $95.00 (from $78.00) while maintaining a Positive rating.
... MoreNetApp (NTAP) PT Raised to $80 at Stifel
June 3, 2021 6:41 AM EDTStifel analyst Matthew Sheerin raised the price target on NetApp (NASDAQ: NTAP) to $80.00 (from $78.00) while maintaining a Hold rating.
... MoreNetApp (NTAP) Tops Q4 EPS by 5c
June 2, 2021 4:02 PM EDTNetApp (NASDAQ: NTAP) reported Q4 EPS of $1.17, $0.05 better than the analyst estimate of $1.12. Revenue for the quarter came in at $1.56 billion versus the consensus estimate of $1.5 billion.
We delivered fourth quarter results above expectations, capping off a solid year of growth. Our... More
