NetApp (NTAP) 4th quarter 2021 earnings report review
Category: NetApp (NTAP)
Date: 3 June 2021 Stock price of NetApp (NTAP): $77.06 Market Capital of NetApp: $17.2 billion We take a look at the 4th quarter 2021 earnings report of NetApp (NTAP) a global cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. For the quarter the group reported revenues of $1.56 billion and net income of $334 million.
|
Our YouTube channel is now live. Watch short summary videos of our articles
We delivered fourth quarter results above expectations, capping off a solid year of growth. Our momentum underscores our value to customers in a hybrid, multi-cloud world. We are gaining share in key storage markets and our public cloud services are at a scale where they are positively impacting total company billings and revenue growth - George Kurian, chief executive officer. "
More About NetApp (NTAP)
NetApp is a global cloud-led, data-centric software company that empowers organizations to lead with data in the age of accelerated digital transformation. The Company provides systems, software, and cloud services that enable them to run their applications optimally from data center to cloud, whether they are developing in the cloud, moving to the cloud, or creating their own cloudlike experiences on premises. With solutions that perform across diverse environments, NetApp helps organizations build their own data fabric and securely deliver the right data, services, and applications to the right people—anytime, anywhere
Overview of NetApp 4th quarter 2021 earnings report
Fourth quarter of fiscal year 2021 financial results
- Net revenues: $1.56 billion, compared to $1.40 billion in the fourth quarter of fiscal year 2020
- Net income: GAAP net income of $334 million, compared to $196 million in the fourth quarter of fiscal year 2020; non-GAAP net income4 of $268 million, compared to $265 million in the fourth quarter of fiscal year 2020
- Earnings per share: GAAP net income per share5 of $1.46, compared to $0.88 in the fourth quarter of fiscal year 2020; non-GAAP net income per share of $1.17, compared to $1.19 in the fourth quarter of fiscal year 2020
- Cash, cash equivalents and investments: $4.60 billion at the end of the fourth quarter of fiscal year 2021
- Cash provided by operations: $559 million, compared to $383 million in the fourth quarter of fiscal year 2020
- Share repurchase and dividends: Returned $181 million to shareholders through share repurchases and cash dividends
NetApp management commentary on their 4th quarter 2021 earnings report
SUNNYVALE, Calif.—June 2, 2021--NetApp (NASDAQ: NTAP) today reported financial results for the fourth quarter and fiscal year 2021, which ended on April 30, 2021.
“We delivered fourth quarter results above expectations, capping off a solid year of growth. Our momentum underscores our value to customers in a hybrid, multi-cloud world. We are gaining share in key storage markets and our public cloud services are at a scale where they are positively impacting total company billings and revenue growth,” said George Kurian, chief executive officer. “Our focused execution last year has set us up well for FY22. I am excited about the year ahead and confident in our ability to grow revenue while delivering operating leverage as we support our customers on their cloud and digital transformation journeys.”
“We delivered fourth quarter results above expectations, capping off a solid year of growth. Our momentum underscores our value to customers in a hybrid, multi-cloud world. We are gaining share in key storage markets and our public cloud services are at a scale where they are positively impacting total company billings and revenue growth,” said George Kurian, chief executive officer. “Our focused execution last year has set us up well for FY22. I am excited about the year ahead and confident in our ability to grow revenue while delivering operating leverage as we support our customers on their cloud and digital transformation journeys.”
NetApp (NTAP) stock price chart over the last 5 years
The image below shows the stock price history of NetApp (NTAP) over the last 5 years. And its been a good time for NTAP stockholders with the stock increasing by 232.4% over the last 5 years.
The stock of NetApp is trading at closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of NetApp stock is positive at this point in time.
The stock of NetApp is trading at closer to its 52 week high than it is to its 52 week low which is a clear indication that the short term sentiment and momentum of NetApp stock is positive at this point in time.
Latest stock valuation of NetApp
So what is NetApp stock worth based on their 4th quarter 2021 earnings report? Based on their earnings report our valuation model provides a target price (full value price) for NetApp at $97.10 a stock.
We therefore believe the stock of NetApp is undervalued at its current price of $77.06
We usually recommend long term fundamental or value investors look to enter a stock at least 10% below our target price (full value price), which in this case is $97.10 thus a good entry point into NetApp would be at $87.40 or below.
We expect the stock of NetApp to kick up from current levels in coming weeks and months to levels closer to our target price (full value price), as their stock is price is undervalued.
We therefore believe the stock of NetApp is undervalued at its current price of $77.06
We usually recommend long term fundamental or value investors look to enter a stock at least 10% below our target price (full value price), which in this case is $97.10 thus a good entry point into NetApp would be at $87.40 or below.
We expect the stock of NetApp to kick up from current levels in coming weeks and months to levels closer to our target price (full value price), as their stock is price is undervalued.
Next earnings release of NetApp
It is expected that NetApp will release their 1st quarter 2021 earnings report in early September 2021
Related Topics