Episode Details

NetApp Q4 FY2026 earnings breakdown - conversational walkthrough with a price-aware verdict and Wall Street consensus comparison. THE CALL: HOLD (3/5 conviction, MODERATE) - CURRENT @ $142.40 -> HOLD - BUY below $115.00 with $95.00 stop - AVOID above $165.00 TRIGGER: A pullback to $115 with FY2027 guide intact would turn this into a BUY WINDOW: 6-12 months - valuation needs the earnings to grow into the multiple WALL STREET CONSENSUS - Ratings: 0 Strong Buy / 26 Buy / 36 Hold / 9 Sell / 0 Strong Sell -> HOLD - Median 12-month PT: $108.50 (range $89 - $128) THESIS NetApp is a high quality, net cash storage franchise that just delivered a record quarter with operating margin at an eight quarter high, but the stock has run above the entire Wall Street target range. Bull lever: Operating margin expanded to twenty seven and a half percent with record free cash flow of nine hundred million and a net cash balance sheet funding steady buybacks. Key risk: The stock trades above every published price target on mid single digit growth, and the FY2027 guide is in line rather than a raise, so the valuation needs earnings to catch up. KEY METRICS - Q4 FY2026 - Revenue: $1.95B (+12.5% YoY) - a fiscal-year record - Non-GAAP EPS: $2.43 (vs $2.27 est, +7.0% beat) - Operating margin: 27.5% - an 8-quarter high - Gross margin: 70.1% - Free cash flow: $900M (+$260M YoY); net cash $1.1B - Hybrid Cloud +11% YoY; Public Cloud +28% YoY - FY2027 guide: ~$7.05-7.25B revenue / $8.05-8.35 non-GAAP EPS DISCLAIMER This is for informational and educational purposes only. Not financial advice. Charged Alpha does not have a position in NTAP. #NTAP #NetApp #earnings #investing #stocks #ChargedAlpha #storage #datacenter #allflash