NetApp Shares Climb Past Dot‑Com Peak After Earnings Rally

Revenue beats and management’s AI demand signals that topped forecasts prompted heavy buying and pushed the stock to new highs.

Overview

NetApp shares jumped about 33% on Friday to roughly $189, taking the stock above its October 2000 high as investors responded to the company’s results and guidance.
The company reported fourth-quarter revenue of $1.95 billion, beating the $1.87 billion consensus, while GAAP earnings per share were $2.03 and some sources reported a $2.43 adjusted EPS figure that reflects accounting adjustments.
NetApp gave fiscal 2027 revenue guidance of $7.33 billion to $7.58 billion, which exceeds Wall Street’s prior forecast, and also announced a $1 billion share repurchase program and the continuation of its quarterly dividend.
CEO George Kurian said the company’s cloud intelligent data infrastructure is enabling AI-powered enterprise workflows, and management pointed to that demand as the primary growth driver.
Analysts’ average price target of about $127 remains well below the new trading level and high institutional ownership of roughly 92% along with recent small insider sales make the stock’s sharp rise potentially volatile for investors.