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How Has NetApp Performed since Its Fiscal 3Q18 Results?

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Mar. 20 2018, Updated 1:51 p.m. ET

Stock has risen over 6% in the last month

NetApp (NTAP) released its fiscal 3Q18[1. fiscal 3Q18 ended January 28, 2018] results on February 14, 2018. NetApp’s stock price has increased 6.4% since then to close at $64.55. NetApp reported revenues of ~$1.5 billion in fiscal 3Q18, a rise of 8.0% YoY (year-over-year) compared to revenues of $1.4 billion in fiscal 3Q17.

NetApp reported non-GAAP[2. generally accepted accounting principles] net income of $273.0 million, up 18.0% YoY from $231.0 million in fiscal 3Q17.

NetApp’s (NTAP) earnings per share (or EPS) rose ~20.0% YoY to $0.99 in fiscal 3Q18, compared to $0.85 in fiscal 3Q17.

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During the company’s fiscal 3Q18 earnings call, NetApp’s CEO, George Kurian, stated, “NetApp again delivered strong results in the third quarter with accelerating revenue and strong cash generation. It is rewarding to see the results of our improved execution as we transform NetApp to deliver sustained and profitable growth.”

What did analysts expect from NetApp in fiscal 3Q18?

Analysts expected NetApp (NTAP) to post revenues of $1.5 billion with its EPS estimated to reach $0.91. Analysts had a high revenue estimate of ~$1.5 billion and a high EPS estimate of $0.96. NetApp beat its median revenue estimate by 1.3% and its EPS estimates by ~9.0% in fiscal 3Q18.

NetApp has a market cap of $17.2 billion. Peer storage companies Dell Technologies (DVMT), IBM (IBM), PureStorage (PSTG), and Hewlett Packard Enterprise (HPE) have market caps of $15.5 billion, $145.0 billion, $4.6 billion, and $30.0 billion, respectively.

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