NTAP

NTAP

NetApp, Inc.

Company Information

SectorTechnology
IndustryComputer Hardware
Market Cap$42.32B
Analysts Rating2.7/5

Recommendation Details

PortfolioMegacap
DateOct 29, 2026
ForecastQ Daily Probabilities
33.5%
33.1%
16.5%

Company Description

NetApp, Inc. is a technology company focused on providing cloud-centric and data-driven services that enable businesses worldwide to efficiently manage and share their information across on-premises infrastructure, private cloud setups, and public cloud platforms. The company's operations are divided into two key segments: Hybrid Cloud and Public Cloud. NetApp offers an extensive suite of intelligent data management software, including its foundational NetApp ONTAP, NetApp Snapshot for data protection, NetApp SnapCenter for backup management, NetApp SnapMirror for data replication, NetApp SnapLock for data compliance, NetApp ElementOS software, and NetApp SANtricity software. Its storage infrastructure solutions comprise the NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod integrated systems, NetApp E/EF series, NetApp StorageGRID object storage, and NetApp SolidFire solutions. For cloud environments, NetApp delivers a wide array of cloud storage and data services such as NetApp Cloud Volumes ONTAP, Azure NetApp Files, Amazon FSx for NetApp ONTAP, and NetApp Cloud Volumes Service for Google Cloud. These are augmented by services like NetApp Cloud Sync, NetApp Cloud Tiering, NetApp Cloud Backup, NetApp Cloud Data Sense for analytics, and NetApp Cloud Volumes Edge Cache. The company also provides cloud operations services, which include NetApp Cloud Insights, the Spot Ocean Kubernetes Suite, Spot Security, Spot Eco for cost optimization, and Spot CloudCheckr. Moreover, NetApp offers application-aware data management solutions under its NetApp Astra brand. Its service portfolio is rounded out by comprehensive professional and support services, encompassing strategic consulting, managed services, and dedicated support, in addition to assessment, design, implementation, and migration services. NetApp serves a broad spectrum of industries globally, including energy, financial services, government, technology, internet, life sciences, healthcare, manufacturing, media, entertainment, animation, video post-production, and telecommunications. The company reaches its clientele through a direct sales force and a robust network of partners. NetApp, Inc. was founded in 1992 and is headquartered in San Jose, California.

Recent News & Events

Mixed near-term signals—bullish AI-storage momentum and raised guidance offset by a fresh Neutral initiation and valuation concerns; net bias slightly cautious into near-term trading.

NEGATIVEOct 26, 2026
Analyst Initiation

Guggenheim initiates NetApp at Neutral on valuation

Guggenheim launched coverage with a Neutral rating, acknowledging strong revenue acceleration (27% FY27 growth estimate vs 18% consensus) but flagging that growth likely converges to mid-single digits beyond FY2028 and that the stock trades at 16x FY28 EPS versus a 14x five-year average. A Neutral initiation from a new covering analyst removes a potential incremental buyer and reinforces valuation caution, a mild near-term headwind.

Investing.com
POSITIVEOct 27, 2026
Guidance/Analyst Commentary

Pricing gains support raised FY27 revenue guidance

NetApp's pricing actions to offset NAND/component cost inflation are flowing through faster than prior cycles, supporting a raised FY27 revenue guide of $7.98–$8.23B (~17% growth) and better-than-expected product gross margins. Continued AI-driven infrastructure demand and pricing agility provide a supportive fundamental narrative that could sustain positive sentiment near term.

Yahoo Finance
NEGATIVEOct 14, 2026
Analyst Downgrade

Barclays downgrades NetApp to Equal Weight

Barclays cut NTAP to Equal Weight from Overweight with a $219 target below the trading price, citing a free-cash-flow gap (FCF down 35% to $401M despite 30% revenue growth) and a valuation premium (~65% above GF Value). The downgrade pressures the stock by questioning whether strong storage sales are converting into cash, a lingering overhang.

Yahoo Finance
POSITIVEOct 7, 2026
Analyst Upgrade

Evercore ISI upgrades NetApp to Outperform, $300 PT

Evercore ISI upgraded NTAP to Outperform from In Line with a $300 target, arguing FY27 guidance is overly conservative and that AI-driven storage demand supports EBIT margins above 32%. The bullish call, reinforced by TD Cowen and Loop Capital target hikes, provides a strong positive catalyst supporting upside momentum.

Investing.com
POSITIVEOct 2, 2026
Product Launch/Partnership

INSIGHT 2026 unveils Novus AI storage, cloud partnerships

At INSIGHT 2026 NetApp unveiled Novus, an AI storage architecture targeting GPU underutilization, plus a managed ONTAP service on Oracle Cloud Infrastructure and deepened SAP/Supermicro alliances. The product and channel expansion drove a rally to all-time highs and multiple analyst target raises, sustaining a positive AI-growth narrative near term.

Investing.com

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