NetApp (NTAP) up More Than 26% Since FQ4 2026 Earnings, Here’s What You Need to Know

NetApp, Inc. (NASDAQ:NTAP) gained more than 60% in May 2026. Much of these gains came after the company posted strong results for fiscal Q4 2026 earnings released on May 28. The stock has gained more than 26% since the release. NetApp, Inc. (NASDAQ:NTAP) ranks among our Best Performing Stocks in May.

​During the quarter, the company posted $1.95 billion in revenue, reflecting a 12% year-over-year increase and ahead of the Street’s anticipation of $1.87 billion. The EPS of $2.43 also topped the expectations of $2.27. The quarter was recognized as record-breaking as the net revenue, gross profit, operating income, cash flow from operations, and free cash flow reached record highs.

​Management highlighted the all-flash array business as a standout performer with a record Q4 revenue of $1.2 billion, reflecting 18% year-over-year growth. Moreover, public cloud revenue also reached a record $182 million in Q4, growing 11% annually.

​Recently, on June 2, Goldman Sachs raised its price target on NetApp, Inc. (NASDAQ:NTAP) from $127 to $200, while maintaining a Buy rating on the stock. The firm noted that the company delivered better than expected Q4 earnings and believes that its broad portfolio of solutions and consumption models can position the company to benefit from on-premise AI infrastructure buildout.

​NetApp, Inc. (NASDAQ:NTAP) provides software, systems, and services for managing and sharing data on-premises. The company also provides private and public clouds worldwide. It operates in two segments: hybrid cloud and public cloud.

While we acknowledge the risk and potential of NTAP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than NTAP and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 9 Most Undervalued Foreign Stocks to Buy Now and 10 Most Undervalued US Stocks According to Hedge Funds. 

Disclosure: None. Follow Insider Monkey on Google News.

1281292 - 11759070 - 1