- Adjusted EPS: $1.80, up from $1.54 last year, and above the estimate of $1.78.
- Hybrid Cloud Net Revenue: $1.52 billion, a 6% increase year-over-year, slightly above the estimate of $1.51 billion.
- Product Revenue: $806 million, up 8.3% year-over-year, but below the estimate of $827.2 million.
- Total Hardware Product Revenue: $360 million, up 17% year-over-year, yet below the estimate of $371.3 million.
- Total Software Product Revenue: $446 million, up 2.1% year-over-year, significantly below the estimate of $642.9 million.
- Support Revenue: $623 million, a 4.2% increase year-over-year, but below the estimate of $637 million.
- Public Cloud Net Revenue: $152 million, a 0.7% increase year-over-year, and slightly above the estimate of $150.4 million.
- Adjusted Gross Margin: 71.5%, up from 69% last year, and above the estimate of 71.1%.
- EPS: $1.37, compared to $1.13 last year.
- First Quarter Forecast – Net Revenue: Expected to be between $1.46 billion and $1.61 billion, compared to the estimate of $1.53 billion.
- First Quarter Forecast – Adjusted EPS: Expected to be between $1.40 and $1.50, compared to the estimate of $1.43.
- Analyst Ratings: 5 buy ratings, 13 hold ratings, and 2 sell ratings.
Netapp Inc on Smartkarma
Analyst coverage of NetApp Inc on Smartkarma reveals positive sentiments from top independent analysts. Baptista Research‘s report on “NetApp Inc.: Will Their Investment In AI Technology Pay Off? – Key Drivers” highlights the company’s strong performance in Q3 FY ’24, exceeding revenue guidance. The momentum of their expanded all-flash product portfolio drove revenue growth, signaling a promising outlook for NetApp’s AI investments.
Further, Baptista Research‘s analysis on “NetApp Inc.: Can Its New Hybrid Cloud Solution Help Catalyze Growth? – Major Drivers” showcases NetApp’s exceptional performance in the last quarter. The company achieved an all-around beat, attributed to strategic focuses on enhancing storage business performance and refining the Public Cloud business approach. Notably, the quarter reflected robust growth in the hybrid cloud segment, with a significant revenue increase, indicating potential growth catalysts for NetApp Inc.
A look at Netapp Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 3 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
NetApp Inc. has received a promising long-term outlook based on the Smartkarma Smart Scores, with high scores in Growth, Resilience, and Momentum. The company’s strong Growth and Resilience scores indicate its potential for expansion and ability to withstand market challenges effectively. Additionally, its Momentum score suggests positive market sentiment and performance trends. While the Value and Dividend scores are not as high, NetApp Inc.’s overall outlook appears solid, positioning it well for future growth and sustainability in the storage and data management sector.
NetApp, Inc. is a provider of storage and data management solutions, catering to enterprises, government agencies, and universities globally. With a focus on specialized hardware, software, and services for open network environments, the company plays a vital role in facilitating storage management for a wide range of organizations. The combination of its diversified services and global reach enhances NetApp Inc.’s positioning in the market, supporting its strong outlook as reflected in the Smartkarma Smart Scores across various key factors.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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