NetApp gets Neutral rating from Guggenheim as shares rise 4%
NetApp shares rose about 4% after Guggenheim initiated coverage with a Neutral rating, citing forecasts above consensus for revenue and earnings growth.
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what happened
StockStory reports that NetApp shares climbed roughly 4% in the afternoon session after Guggenheim analyst Howard Ma launched coverage with a Neutral rating and no price target. His near-term estimates sit above the market: fiscal 2027 revenue growth of 27% versus 18% consensus, and non-GAAP earnings of $11.50 per share, about 15% higher than expected, climbing past $13 in fiscal 2028.
Ma kept his Neutral view because he expects growth to slow to a mid-single-digit pace after fiscal 2028 and does not yet see capacity shipments offsetting future price declines. Shipments of capacity dropped year over year in the first fiscal quarter. Trading at 16 times fiscal 2028 profit against a five-year norm of 14, the stock leaves him inclined to wait.
why it matters
NetApp is up about 110% year to date and trades near its 52-week high of $239.18 set in October, after a 5.8% drop 12 days earlier when September inflation reached 3.7%, above forecasts. Higher rates weigh hardest on growth stocks such as tech and semiconductors, where far-off earnings drive valuations. The note links the revenue acceleration partly to passing on higher NAND flash component costs.
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sources
- NetApp (NTAP) stock is up, what you need to know — stockstory.org, 26 October 2026 at 19:41 UTC
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