NetApp shares are trading higher after the company reported better-than-expected Q3 financial results and issued FY24 adjusted EPS guidance above estimates. Also, Evercore ISI Group and Barclays raised their respective price targets on the stock.
Portfolio Pulse from Benzinga Newsdesk
NetApp's shares surged following the announcement of their Q3 financial results, which exceeded expectations. Additionally, the company's forecast for FY24 adjusted EPS was higher than anticipated. Both Evercore ISI Group and Barclays have increased their price targets for NetApp's stock.

March 01, 2024 | 12:26 pm
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POSITIVE IMPACT
NetApp's shares experienced a significant increase after reporting better-than-expected Q3 financial results and providing an optimistic FY24 adjusted EPS guidance. Additionally, the positive adjustments in price targets by Evercore ISI Group and Barclays further bolster investor confidence.
The positive earnings report and upward revision in EPS guidance for FY24 directly impact NetApp's stock by increasing investor confidence and market sentiment. The endorsements from Evercore ISI Group and Barclays through raised price targets further validate the company's strong performance and outlook, likely leading to a short-term bullish trend in the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100