NetApp Analysts Boost Their Forecasts After Strong Q1 Earnings

NetApp Inc. (NASDAQ:NTAP) on Wednesday posted better-than-expected fiscal 2027 first-quarter results.

NetApp reported quarterly earnings of $2.58 per share, which beat the consensus estimate of $2.12 by 21.7%, per Benzinga Pro data.  Quarterly revenue of $2.03 billion beat the Street estimate of $1.84 billion and was up from $1.56 billion in the same period last year. 

“NetApp delivered a record-setting start to the year, exceeding guidance on every metric and achieving our strongest first quarter ever,” said CEO George Kurian.

NetApp raised its fiscal 2027 adjusted EPS guidance to between $9.73 and $10.03, versus the $9.01 analyst estimate, and raised its revenue outlook to between $7.98 billion and $8.23 billion, versus the $7.54 billion estimate.

NetApp shares fell 11.2% to $160.50 in pre-market trading.

These analysts made changes to their price targets on NetApp following earnings announcement.

• Susquehanna analyst Mehdi Hosseini maintained the stock with a Neutral and raised the price target from $185 to $195.
• Wedbush analyst Matt Bryson maintained the stock with a Neutral and raised the price target from $150 to $170.

Considering buying NTAP stock? Here’s what analysts think:

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