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NetApp (NTAP) came out with quarterly earnings of $1.56 per share, beating the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.15 per share a year ago.
NetApp raised its annual revenue and profit forecasts on Wednesday, anticipating steady demand for its cloud-based data management services, and said Chief Financial Officer Mike Berry will retire next year.
NetApp, Inc. NTAP will release earnings results for its first quarter, after the closing bell on Wednesday, Aug. 28.
NetApp's (NTAP) Q1 performance is likely to have gained from momentum in all-flash products and hyperscaler first-party and marketplace services.
The latest trading day saw NetApp (NTAP) settling at $131.70, representing a +0.92% change from its previous close.
NetApp's (NTAP) stock trajectory is buoyed by robust financial performance. Solid demand across the all-flash and cloud storage portfolio is driving top-line expansion for the company.
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) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Continued momentum in cloud computing, IoT, auto, connected devices and AI is likely to favor the prospects of Zacks Computer - Storage Devices industry players like NTAP, WDC and PSTG amid macroeconomic headwinds.
The latest trading day saw NetApp (NTAP) settling at $124.99, representing a -0.92% change from its previous close.