GET DAILY SIGNALSNetApp (NTAP) Delivers Record Q4 Results with +12% Revenue Growth
Key Takeaways
- NetApp reported record Q4 fiscal 2026 net revenues of $1.948 billion, up 12% year-over-year.
- Non-GAAP earnings per share reached $2.43, exceeding consensus estimates and rising 26% from the prior year.
- Full fiscal 2026 revenues totaled $6.925 billion, a 5% increase, with non-GAAP EPS at $8.13.
- Record all-flash array revenue of $1.2 billion and public cloud revenue of $182 million highlighted segment strength.
- Free cash flow surged 41% to $900 million in the quarter, supporting $1.36 billion returned to shareholders for the year.
- Company provided Q1 fiscal 2027 guidance with revenue expected between $1.750 billion and $1.900 billion.
Why These Earnings Matter
NetApp’s fourth quarter and full fiscal year 2026 results, ending April 24, 2026, mark a pivotal close to a year focused on intelligent data infrastructure amid rising enterprise AI adoption. The company’s hybrid cloud and public cloud segments delivered consistent growth, reflecting sustained demand for secure, high-performance data solutions. Strong cash generation and capital returns underscore operational discipline, while record billings signal momentum heading into fiscal 2027. These results provide investors with clear visibility into NetApp’s ability to capitalize on data-driven transformations across industries.
Breaking Down the Reported Results
NetApp delivered robust fourth-quarter performance with GAAP net revenues of $1.948 billion, up 12% year-over-year from $1.732 billion. GAAP net income rose 19% to $404 million, or $2.03 per share. Non-GAAP results showed even stronger gains, with EPS climbing 26% to $2.43, surpassing analyst consensus estimates of approximately $2.19. Full-year fiscal 2026 GAAP revenues reached $6.925 billion, up 5%, while non-GAAP EPS increased 12% to $8.13. Hybrid Cloud segment revenue grew 13% in the quarter to $1.766 billion, and Public Cloud revenue advanced 11% to $182 million. Record all-flash array revenue of $1.2 billion highlighted product demand. Free cash flow for the quarter jumped 41% to $900 million. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Market Reaction and Investor Sentiment
NetApp shares typically experience volatility around earnings announcements, with historical reactions tied to beats on revenue and EPS alongside forward guidance. The strong Q4 beat on both top and bottom lines, combined with record cash flows, positioned the results favorably with investors. Positive sentiment was reinforced by segment growth in high-demand areas such as all-flash arrays and public cloud services, reflecting confidence in NetApp’s competitive positioning within the data infrastructure space.
Forward Outlook and Key Factors to Monitor
NetApp issued guidance for the first quarter of fiscal 2027, expecting revenues between $1.750 billion and $1.900 billion. Non-GAAP EPS is projected in the range of $2.05 to $2.15. For the full fiscal 2027 year, revenue guidance spans $7.325 billion to $7.575 billion, with non-GAAP EPS between $8.70 and $9.00.
Investors should watch execution on new AI-focused offerings, including the AI Data Engine co-engineered with NVIDIA and expanded partnerships with Google Cloud and others. Demand signals in hybrid cloud and all-flash storage remain critical, as does the company’s ability to sustain gross margin targets amid evolving competitive dynamics.
Additional areas to monitor include free cash flow trends, capital allocation through dividends and buybacks, and progress on cloud migration initiatives. Broader industry conditions in enterprise IT spending and AI infrastructure investment will also influence results.
Using AI Tools to Analyze Stocks Like NetApp
In my view, having the right tools makes it easier to put earnings reports into context. Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. AI Screener
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Momentum Indicator for NTAP turns positive, indicating new upward trend
NTAP saw its Momentum Indicator move above the 0 level on October 28, 2026. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 84 similar instances where the indicator turned positive. In 62 of the 84 cases, the stock moved higher in the following days. The odds of a move higher are at 74%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 38 of 52 cases where NTAP's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 73%.
Following a +5.62% 3-day Advance, the price is estimated to grow further. Considering data from situations where NTAP advanced for three days, in 211 of 313 cases, the price rose further within the following month. The odds of a continued upward trend are 67%.
The Aroon Indicator entered an Uptrend today. In 186 of 301 cases where NTAP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 62%.
Bearish Trend Analysis
The 10-day RSI Indicator for NTAP moved out of overbought territory on October 14, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 50 similar instances where the indicator moved out of overbought territory. In 32 of the 50 cases, the stock moved lower in the following days. This puts the odds of a move lower at 64%.
The Moving Average Convergence Divergence Histogram (MACD) for NTAP turned negative on October 15, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 45 similar instances when the indicator turned negative. In 28 of the 45 cases the stock turned lower in the days that followed. This puts the odds of success at 62%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NTAP declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 57%.
NTAP broke above its upper Bollinger Band on October 01, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 2 (best 1 - 100 worst), indicating outstanding price growth. NTAP’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 9 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 13 (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is 14 (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 91, placing this stock better than average.
The Tickeron Valuation Rating of 88 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (28.697) is normal, around the industry mean (15.799). P/E Ratio (30.506) is within average values for comparable stocks, (60.453). Projected Growth (PEG Ratio) (2.266) is also within normal values, averaging (3.648). Dividend Yield (0.010) settles around the average of (0.211) among similar stocks. P/S Ratio (5.189) is also within normal values, averaging (103.889).
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Provides data management and storage solutions
Industry ComputerCommunications
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