Stocks
Goldman Sachs Reaffirms Buy Rating on NetApp Amid Strong Fiscal Q1 Results
NetApp's fiscal first quarter 2027 results exceeded expectations, prompting Goldman Sachs to reiterate its Buy rating and $210.00 price target on the stock.
The company reported earnings per share of $2.58, surpassing analysts' projections of $2.11 per share, while revenue reached $2.03 billion compared to the anticipated $1.83 billion.
Gross margins landed at 70.6%, hitting the high end of NetApp's guidance range, and EBIT margins of 31.9% surpassed both Goldman Sachs and consensus estimates.