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NetApp (NTAP) has an average rating of overweight and mean price target of $171.75, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $169.52, Change: $+2.48, Percent Change: +1.48%
US equity benchmarks reached new peaks on Friday, buoyed by a rally in technology stocks, while Wall Street logged its second consecutive monthly gains.The Dow Jones Industrial Average rose 0.7% to 51,032.5, while the S&P 500 added 0.2% to 7,580.1. The Nasdaq Composite gained 0.2% to 26,972.6. All three indexes notched back-to-back closing highs.Barring technology and financials, all sectors were in the red, led by consumer staples.Dell Technologies (DELL) shares surged nearly 33%, the best performer on the S&P 500. Late Thursday, the company reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers. It raised its fiscal 2027 outlook.Dell is in a "strong" position to continue to outperform amid the ongoing AI infrastructure buildout, Wedbush Securities said in a note.NetApp (NTAP) jumped 22% after announcing its quarterly results, the second-biggest gainer on the S&P 500.Other tech names that showed notable gains included IBM (IBM), which advanced nearly 13%, Salesforce (CRM), and Microsoft (MSFT).SentinelOne (S) shares slumped 8.3%. The cybersecurity company delivered a solid first-quarter performance that appears to be sustainable amid strong underlying trends, BofA Securities said in a Friday client note.The brokerage attributed the sell-off to the company's "conservative" guidance that raises questions around growth durability. But BofA views the pullback as an attractive entry point for investors, citing underlying momentum.This month, the Nasdaq gained 8.4%, the S&P 500 climbed 5.1%, and the Dow advanced 2.8%."Markets have largely decided to move on from the conflict with Iran," said Douglas Porter, chief economist at BMO Financial Group.West Texas Intermediate crude oil was down 1% at $88.04 a barrel in Friday late-afternoon trade, while Brent fell 1.8% to $91.99. The benchmarks were on track for monthly declines following four consecutive monthly gains."The market has increasingly priced in a resolution (to the US-Iran conflict) this week," ING Bank said in a report Friday. "Therefore, any confirmation of a deal that reopens the strait means that significant further downside is likely limited, particularly during the early stages of a ceasefire."In a social media post Friday, US President Donald Trump said he was heading to the White House Situation Room "to make a final determination" regarding the Middle East conflict. He also announced an end to the naval blockade of Iranian ports.Trump said that Iran must permanently forgo capabilities that lead to nuclear weapon development and allow unrestricted shipping traffic through the Strait of Hormuz.Axios reported Thursday that the US and Iran had agreed to a memorandum of understanding to extend a ceasefire between the countries and begin talks on Tehran's nuclear program. However, Trump hadn't signed off on the deal, according to the report.US Treasury yields were mixed in Friday late-afternoon trade, with the 10-year rate little changed at 4.44% and the two-year rate falling 2.3 basis points to 4.01%.A sharp jump in Treasury yields following the Middle East conflict is unlikely to dampen investor appetite for equities, given corporate earnings growth and excitement surrounding artificial intelligence, Wells Fargo Investment Institute said in a note.Two Federal Reserve officials offered mixed views on whether the oil price shock could be considered transitory, with Michelle Bowman in favor of looking through such developments and Jeffrey Schmid saying inflation is too hot to ignore.Gold was last up 0.9% at $4,574.50 per troy ounce, while silver fell 0.1% to $75.81 per ounce.
The Standard & Poor's 500 index rose 1.4% this week, marking its ninth consecutive weekly increase and ending the trading month with a 5.15% climb to a record closing high.The S&P 500 ended the week at 7,580.06, its highest close ever. The index also posted a record intraday high on Friday at 7,599.38.The last time the S&P 500 had a weekly winning streak this long was in late 2023. It is now up 11% this year.Friday marked the final trading day of May, a month of consistent weekly gains that followed a 10% jump in April as investors' worries about the war in Iran waned. On Friday, hopes for a peace deal increased as President Donald Trump said on Truth Social that he was meeting in the Situation Room to make a final determination on a memorandum of understanding between the US and Iran.Economic data this week showed the US economy expanded at a slower rate in the first quarter than previously estimated as consumer spending growth decelerated, according to the second estimate by the Bureau of Economic Analysis. Real gross domestic product increased at a 1.6% annualized rate in the March quarter, the report said, down from a 2% increase reported in the initial estimate.The advance this week wasn't broad; only four of the S&P 500's 11 sectors rose, led heavily by a 4.6% jump in the technology sector. The consumer discretionary rose 1.5%, materials added 1.2% and industrials edged up 0.8%.Dell Technologies (DELL) was the best performer in the technology sector, with its stock soaring 43% on the week as the company reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers. Dell also boosted its fiscal 2027 outlook.Super Micro Computer's (SMCI) stock also boosted the technology sector, with its stock surging 30% as the company said it is collaborating with Taiwanese authorities to prevent illicit diversion of its servers into the restricted Chinese market.AppLovin (APP) was also strong, with its stock jumping 27% as the company reported Q1 earnings per share and revenue above year-earlier results and analysts' mean estimates. AppLovin also forecast Q2 revenue above the Street view.In addition, NetApp (NTAP) shares climbed 25% as the company posted fiscal Q4 adjusted earnings per share and revenue above year-earlier results and analysts' expectations. NetApp also issued fiscal 2027 guidance above Street consensus views.Best Buy (BBY) led the week's gains in consumer discretionary, with its stock leaping 26%. The electronics retailer's fiscal first-quarter results came in stronger than expected and Chief Financial Officer Matt Bilunas said its comparable sales "have started strong in May, with month-to-date growth up high single digits." It has been years since Best Buy generated a high-single-digit increase in comparable sales even for a couple-week period, Truist Securities said in a note.On the downside, the energy sector fell 5.4% on the week, followed by a 3.2% drop in consumer staples, a 2.1% decline in utilities and a 1.4% slip in real estate. Financials, health care and communication services also edged lower.The energy sector's drop came as crude oil futures also fell on the week amid chatter about the US and Iran nearing a peace deal. Hardest-hit stocks included shares of ONEOK (OKE), down 11%, and Williams (WMB), down 9%.Next week, earnings reports are expected from companies including Palo Alto Networks (PANW), Broadcom (AVGO), CrowdStrike Holdings (CRWD) and Medtronic (MDT).In economic data, all eyes will be on the government's May employment report due Friday. Other reports expected next week include April construction spending and factory orders.
Tech stocks were mixed late Friday afternoon with the State Street Technology Select Sector SPDR ETF (XLK) rising 2.3% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 2.7%.The Philadelphia Semiconductor index gained 0.1%.In corporate news, Dell Technologies (DELL) shares surged 32% a day after the company reported fiscal Q1 results that topped estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.SentinelOne (S) shares fell 9%. The cybersecurity company delivered a solid Q1 performance that appears to be sustainable amid strong underlying trends, BofA Securities said, with the sell-off tied to "conservative" guidance that has raised questions around growth durability.IBM (IBM) shares jumped 14% a day after the company said it plans to invest more than $10 billion over the next five years to support quantum computing development.NetApp (NTAP) shares soared 25% a day after the company reported fiscal Q4 results that topped estimates.
Tech stocks were mixed late Friday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) rising 2% and the State Street SPDR S&P Semiconductor ETF (XSD) falling 3.1%.The Philadelphia Semiconductor index was decreasing 0.3%.In corporate news, NetApp (NTAP) shares surged 26% after the company late Thursday released its fiscal Q4 results.
Equities on Wall Street rose intraday as President Donald Trump laid out conditions that Iran must agree to as part of a peace agreement.The Dow Jones Industrial Average was up 0.6% at 50,979.9 after midday Friday, while the Nasdaq Composite rose 0.3% to 26,988.6. The S&P 500 added 0.3% to 7,584.8. All three indexes logged closing highs in the previous session.Barring technology and financials, all sectors were in the red, led by consumer staples.In a social media post Friday, Trump said he was heading to the White House Situation Room "to make a final determination" regarding the Middle East conflict. He also announced an end to the naval blockade of Iranian ports.Trump said that Iran must permanently forgo capabilities that lead to nuclear weapon development and allow unrestricted shipping traffic through the Strait of Hormuz.Axios reported Thursday that the US and Iran had agreed to a memorandum of understanding to extend a ceasefire between the countries and begin talks on Tehran's nuclear program. However, Trump hadn't signed off on the deal, according to the report.West Texas Intermediate crude oil was down 2.5% at $86.70 a barrel intraday, while Brent fell 2% to $91.81."While significant hurdles remain, the market is reacting to the prospect of a supply surge once hundreds of tankers loaded with crude oil and refined fuels are released from the Persian Gulf," Saxo Bank said in report Friday. "In the months ahead, however, demand to replenish depleted global inventories is likely to provide support, potentially lifting the price floor compared with pre-war levels."US Treasury yields were mixed intraday, with the 10-year rate little changed at 4.44% and the two-year rate falling 2.7 basis points to 4%.A sharp jump in Treasury yields following the Middle East conflict is unlikely to dampen investor appetite for equities, given corporate earnings growth and excitement surrounding artificial intelligence, Wells Fargo Investment Institute said in a note.In company news, Dell Technologies (DELL) shares were up nearly 29% intraday, the best performer on the S&P 500. Late Thursday, the company reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers. It raised its fiscal 2027 outlook.NetApp (NTAP) surged 26% after announcing its quarterly results, the second-biggest gainer on the S&P 500.Other tech names were also notable gainers intraday, including Salesforce (CRM), which advanced 9%, IBM (IBM) and Microsoft (MSFT).Sentinelone (S) shares were down 6.3% intraday. The cybersecurity company delivered a solid first-quarter performance that appears to be sustainable amid strong underlying trends, BofA Securities said in a Friday client note.The brokerage attributed the sell-off to the company's "conservative" guidance that raises questions around growth durability. But BofA views the pullback as an attractive entry point for investors, citing underlying momentum.Gold was up 1.6% at $4,602.50 per troy ounce, while silver edged up 0.1% to $76 per ounce.
NetApp (NTAP) reported fiscal Q4 non-GAAP earnings and revenue late Thursday above market expectations, and its forecast for the full financial year also beat consensus.Shares soared 27% amid a surge in intraday trading volume to over 6.5 million from a daily average of roughly 2.5 million.Dell Technologies (DELL) reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.Shares surged 29% as intraday trading volume catapulted to over 27.1 million from a daily average of about 7.99 million.Replimune (REPL) said Friday it will, in the coming days, resubmit a biologics license application with the US Food and Drug Administration for vusolimogene oderparepvec, its experimental treatment for advanced melanoma.Shares catapulted 83% following an increase in intraday trading volume to over 39.8 million from a daily average of about 6.19 million.Price: $180.63, Change: $+38.23, Percent Change: +26.85%
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:NetApp delivered strong Q4 FY26 results with revenue of $1.95B (+12% Y/Y) beating consensus of ~$1.87B and record EPS of $2.43 (+11% Y/Y) significantly exceeding expectations of $2.27. Results were driven by accelerating all-flash array growth of 18% Y/Y to $1.22B and Public Cloud sales up 11% to $182M, with billings of $2.163B marking the tenth consecutive quarter of growth. We view the broad-based strength across both Hybrid Cloud (+13%) and Public Cloud segments as validation of NetApp's strategic positioning in data infrastructure markets. Management provided FY27 guidance well above Street expectations with revenue midpoint of $7.45B (+8% Y/Y) vs consensus $7.19B and EPS of ~$8.85 (+9%) vs $8.50. We believe impressive margin expansion with operating margin reaching 32.0% (+340 bps Y/Y) and record free cash flow of $900M (+41% Y/Y) demonstrate strong operational execution. However, we expect memory cost pressures in H2 may create headwinds despite product gross margin improvement to 56.1%.
NetApp (NTAP) is expected to report better-than-expected fiscal Q4, driven by higher pricing and possible artificial intelligence-related deal wins, Wedbush Securities said in a note Tuesday.NetApp reports Q4 earnings after the market close on Thursday.The analysts said the company's fiscal Q4 sales are projected to "easily" top expectations. Bit shipments are expected to meet forecasts, while system pricing increased during the quarter. NetApp also appears to have raised prices early enough to limit pressure on gross margins because it was still using some lower-cost bits. Stronger pricing is also expected to support a positive fiscal Q1 guidance.There are also signs that NetApp won a few large deals late in the quarter, possibly tied to AI-related demand, the analysts said, adding that while they do not yet see the company as having a competitive AI product offering, management may discuss growing traction in AI during the earnings call."We see reasons to believe NetApp results should improve in the near-term. However, we also believe the stock has moved to reflect the expectation, and we don't see some of the structural tailwinds that make us more positive," the analysts said.Wedbush Securities reiterated its neutral rating and $115 price target on NetApp.Price: $138.18, Change: $-1.18, Percent Change: -0.85%
IT hardware stocks may not fully reflect growing macro and earnings risks despite strong recent gains and elevated valuations, Morgan Stanley said Thursday in a report.Hardware stocks have outperformed over the past three months as spending has remained stronger than expected, supported by enterprise customers pulling forward demand and optimism around the "CPU Renaissance" theme, the report said.Earnings revisions are near 15-year highs, while the next 12-month price-to-earnings ratio is about four times the prior peak, the report said. The market is underestimating risks tied to the memory supercycle, supply-chain shortages, and a more volatile macroeconomic backdrop, Morgan Stanley said."However, our concerns won't necessarily materialize in a broad-based cautionary off-cycle earnings period, as the near-term resilience in spend is creating a more H2-loaded catalyst path," the report said.Over the next two weeks, earnings are expected to be mixed, with Dell Technologies (DELL) likely to report the strongest results, followed by Hewlett Packard Enterprise (HPE) and Everpure (P), while HP (HPQ) and NetApp (NTAP) face a higher risk of weaker margins and EPS guidance, the report said.Morgan Stanley boosted its price target on Dell to $170 from $110, raised Hewlett Packard Enterprise to $33 from $25, and lifted HP to $17 from $16.Price: $247.29, Change: $+4.35, Percent Change: +1.79%
NetApp (NTAP) has an average rating of hold and mean price target of $116.36, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)