11:20 AM EDT, 05/31/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target to $107 from $98 on 15x our CY 25 EPS view of $7.15, below its five-year historical average. We lift our FY 25 (Apr.) EPS to $6.69 from $6.22 and start FY 26's at $7.28. NTAP posted Q4 EPS of $1.80 vs. $1.54, above consensus by $0.01. Sales grew 6%, fueled by strength across Hybrid Cloud (+6%), Product (+8%), and Support (+2%) amid strong demand for its all-flash and cloud data services offerings. The all-flash array portfolio hit a $3.6B annualized run-rate (+17%) and now accounts for 60% of Hybrid Cloud revenue. Billings grew 8% to $1.81B in Q4, marking the second straight quarter of growth as NTAP's next-gen AFF A-Series positions it to further penetrate the lucrative all-flash market. While we are cautious on rising NAND costs and competitive pressures near term, we look for Public Cloud revenue growth to re-accelerate in FY 25 alongside continued traction in the Support and broader Cloud Data Services segments to sustain healthy gross margins.