On May 29, NetApp surged 13.41% overnight, trading at $161.5/share. The rally was driven by the company reporting fiscal Q4 results that substantially exceeded Wall Street expectations, coupled with an upbeat full-year outlook.

NetApp posted fiscal Q4 non-GAAP EPS of $2.43, beating the analyst consensus of $2.27 by approximately 7.05% and representing a 25.91% year-over-year increase from $1.93. Revenue came in at $1.948 billion versus the expected $1.872 billion, reflecting roughly 12.7% growth. For fiscal Q1 2027, the company guided non-GAAP EPS of $2.05-$2.15 on revenue of $1.75-$1.90 billion, both above consensus estimates of $1.84 and $1.67 billion respectively. Full-year fiscal 2027 guidance calls for non-GAAP EPS of $8.70-$9.00 on revenue of $7.325-$7.575 billion, compared with analyst expectations of $8.55 and $7.20 billion. Analysts had previously noted that higher product pricing and AI-related deal wins were key tailwinds for the quarter.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)