Shares of NetApp, Inc. (NASDAQ:NTAP) rose $1.4 during today’s regular trading session, a 3.54% increase from the previous closing price of $39.56. The company’s shares traded on stronger-than-usual volume today: $6.44M shares changed hands while the stock’s average volume is 2.90M shares per day. NetApp, Inc. (NTAP) has gained $0.99, or +2.48%, in the last 30 days. This year-to-date, the company’s shares have increased $5.69, or +16.13%. Over the last 12 months, NTAP’s stock price has risen $15.44, or +60.50%. The company’s 52-week range is $22.89 to $43.14.

NetApp, Inc. (NTAP) Earnings Surprises

NetApp, Inc. announced its recent quarter financial results after the market close on 24/05/2017, crushing consensus estimates with both its revenue and earnings. NetApp, Inc. posted net revenue of 1.48B, beating Wall Street analysts who had forecast $1.44B. The company reported EPS of $0.86, above the consensus estimate calling for EPS of $0.82 – a positive surprise of 4.58%.

Before that, quarter ending January 2016, NetApp, Inc. also surprised analysts by beating the consensus estimate. The Wall Street forecast had projected $0.74 per share, and the company reported EPS of $0.82 – also a 10.38% positive surprise. Revenue during the period amounted to $1.4B, while analysts were anticipating $1.39B.

In the quarter ending October 2016, NetApp, Inc. delivered an even larger earnings beat. Analysts, on average, were expecting $0.54 per share, and the company reported EPS of $0.60 – amounting to a positive surprise of 10.40%. Revenue during that quarter was posted at $1.34B, whereas the consensus estimate was predicting $1.36B.

The company is scheduled to announce its next quarterly financial results on 16/08/2017 after the market close. The average EPS estimate of 10 Wall Street analysts is $0.68 per share, compared to the company’s reported EPS of $0.46 per share in the year-ago quarter. Analysts are forecasting NetApp, Inc. to report revenue of about $1.32B, versus the $1.29B posted last year.

NetApp, Inc. (NTAP) Consensus Estimates and Price Target

The company’s consensus rating is currently Hold, with 5 analysts rating it a Strong Buy, and 16 analysts rating it with a Hold. The average 12-month price target, as forecast by analysts, is $43.04, 5.08% higher than the company’s closing price today.