NetApp Reports First Quarter of Fiscal Year 2022 Results
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August 26, 2021 7:51 AM EDT
Shares of NetApp (NASDAQ: NTAP) are up almost 2% in pre-market Thursday after the company delivered stronger-than-expected FQ1 results.
NetApp made a profit of $1.15 per share to easily beat the analyst estimate of $0.95 per share. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.43 billion.
Building on our accelerating momentum through last year, we are off to a great start to fiscal 2022, with strong revenue, gross margin, and operating leverage across the entire business, said George Kurian, chief executive officer.
Cloud and digital transformation initiatives remain top customer... More
August 26, 2021 7:27 AM EDT
BofA Securities analyst Wamsi Mohan raised the price target on NetApp (NASDAQ: NTAP) to $95.00 (from $90.00) while maintaining a Buy rating.
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August 26, 2021 6:24 AM EDT
Stifel analyst Matthew Sheerin raised the price target on NetApp (NASDAQ: NTAP) to $90.00 (from $80.00) while maintaining a Hold rating following earnings.
The analyst commented, "We raise our estimates on NTAP and increase our PT to $90 following a solid beat and raise.... More
August 25, 2021 4:03 PM EDT
NetApp (NASDAQ: NTAP) reported Q1 EPS of $1.15, $0.20 better than the analyst estimate of $0.95. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.43 billion.
GUIDANCE:
NetApp sees Q2 2022 EPS of $1.14-$1.24, versus the consensus of $1.13. NetApp sees Q2... More
