NetApp Reports Fiscal Q4 Results and Raises Outlook

NetApp reported fiscal fourth-quarter earnings and provided forward guidance that led to a premarket share price increase of more than 17 percent. Barclays raised its price target on the stock to $199 and projected a multi-year sequence of 12 percent annual top-line expansion.

Corporate buyers are purchasing NetApp systems to store and process large data sets used to train localized large language models. The company converts traditional storage hardware into platforms that operate with cloud services, generating higher-margin revenue tied to AI infrastructure spending.

1 billion and holds an A grade for core operational cash generation. Seeking Alpha’s automated rating system currently lists the shares as a hold, citing near-term valuation considerations.