Data infrastructure solutions provider NetApp Inc. NASDAQ: NTAP stock has hit 20-year highs. The company is reaping benefits from the artificial intelligence (AI) boom as data centers ramp up infrastructure to handle surging data demands and traffic.
Zacks.com users have recently been watching NetApp (NTAP) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
NetApp (NTAP) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Does NetApp (NTAP) have what it takes to be a top stock pick for momentum investors? Let's find out.
NetApp (NTAP) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
NetApp's (NTAP) fiscal fourth-quarter performance benefits from solid demand across the all-flash and cloud storage portfolio.
NetApp, Inc. (NASDAQ:NTAP ) Q4 2024 Earnings Conference Call May 30, 2024 5:00 PM ET Company Participants Kris Newton - VP, IR George Kurian - CEO Mike Berry - CFO Conference Call Participants David Vogt - UBS Matt Sheerin - Stifel Meta Marshall - Morgan Stanley Samik Chatterjee - J.P. Morgan Mehdi Hosseini - SIG Steven Fox - Fox Advisors Simon Leopold - Raymond James Wamsi Mohan - Bank of America Nehal Chokshi - Northland Capital Markets Tim Long - Barclays Ananda Baruah - Loop Capital Eddie Pellon - TD Cowen Asiya Merchant - Citigroup Operator Good day, and welcome to the NetApp Fourth Quarter Fiscal Year 2024 Earnings Call.
The headline numbers for NetApp (NTAP) give insight into how the company performed in the quarter ended April 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
NetApp (NTAP) came out with quarterly earnings of $1.80 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $1.54 per share a year ago.
NetApp topped fourth-quarter revenue estimates on Thursday on strong demand for its cloud-based data management services, while the company also approved a new share buyback plan worth an additional $1 billion.
NetApp's (NTAP) fiscal fourth-quarter performance is likely to have gained from momentum in all-flash products and hyperscaler first-party and marketplace services amid soft macroeconomic conditions.
NetApp (NTAP) closed at $115.65 in the latest trading session, marking a +1.41% move from the prior day.