NetApp stock has surged 46% with strong revenue growth and market expansion expectations.

From Nasdaq: 2025-01-27 00:32:29

NetApp (NASDAQ:NTAP) stock has surged nearly 46% in FY’2024, outperforming the S&P500. The company’s core Hybrid Cloud business is rebounding, with revenue growing 6% in the first half of FY’25 to $1.5 billion. NetApp is set to benefit from the rising demand for AI, flash-based products, and cloud infrastructure deployments.

NTAP stock returns have been volatile, with a 42% gain in 2021, -33% in 2022, 51% in 2023, and 34% in 2024. The Trefis High Quality Portfolio, with 30 stocks, has provided more stable returns and outperformed the S&P 500. NetApp’s valuation is fair, with a price estimate of $130, and expected revenue growth of 6%.

NetApp anticipates its total addressable market to expand by over $100 billion by 2027, driven by growth in all-flash data, file and block storage, public cloud, and AI storage. Margins are expected to improve with a higher mix of all-flash array sales and cloud services. Invest with Trefis for market-beating portfolios and price estimates.



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