NetApp Analysts Boost Their Forecasts After Upbeat Earnings
Portfolio Pulse from Avi Kapoor
NetApp, Inc. (NASDAQ:NTAP) reported better-than-expected earnings for its first quarter, with earnings per share of $1.56 and sales of $1.541 billion, both surpassing analyst estimates. Despite strong results, NetApp shares fell 8% to $121.40. Analysts have adjusted their price targets, with some maintaining neutral or underperform ratings.
August 29, 2024 | 5:35 pm
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NetApp reported strong Q1 earnings, beating expectations with $1.56 EPS and $1.541B in sales. Despite this, shares fell 8%. Analysts adjusted price targets, reflecting mixed sentiment.
NetApp's strong earnings beat expectations, which is typically positive for stock prices. However, the 8% drop in share price suggests market concerns or profit-taking. Analysts' mixed ratings and adjusted price targets indicate uncertainty about future performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100