Why NetApp Stock Soared 35% Friday Morning
2026-05-29 13:38:33 ET
NetApp (NASDAQ: NTAP) investors are having a nice Friday. The massive-scale data storage specialist's stock jumped as much as 35.3% around 10:25 a.m. ET. The stock backed down a bit from that extreme gain, but was still up 26% at 12:45 p.m. ET. Yep, that's what a strong earnings report can do, especially when paired with bullish guidance targets.
With this surge to more than $170 per share, NetApp's stock finally eclipsed a long-standing record price of $148.63, set in the fall of 2000.
NetApp crushed analyst targets in fiscal Q4 2026. Earnings rose 26% year-over-year to $2.43 per diluted share. Revenue increased 13% to $1.95 billion. The consensus Street view had called for earnings near $2.27 per share on sales in the neighborhood of $1.87 billion.
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