NetApp (NTAP - Free Report) closed the most recent trading day at $209.74, moving +1.14% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.28%. On the other hand, the Dow registered a gain of 1.02%, and the technology-centric Nasdaq decreased by 0.02%.
Prior to today's trading, shares of the data storage company had gained 4.65% outpaced the Computer and Technology sector's loss of 2.28% and the S&P 500's gain of 0.67%.
Analysts and investors alike will be keeping a close eye on the performance of NetApp in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $2.6, reflecting a 26.83% increase from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $2.11 billion, up 23.83% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $10.05 per share and revenue of $8.23 billion, indicating changes of +23.62% and +18.91%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for NetApp. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Right now, NetApp possesses a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that NetApp has a Forward P/E ratio of 20.64 right now. Its industry sports an average Forward P/E of 11.58, so one might conclude that NetApp is trading at a premium comparatively.
It's also important to note that NTAP currently trades at a PEG ratio of 1.85. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 1.47.
The Computer- Storage Devices industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 24, positioning it in the top 10% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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, /PRNewswire/ -- ePlus inc. (NASDAQ NGS: PLUS – news) today announced that it has been named the NetApp North America Flash Partner of the Year for NetApp fiscal year 2026 (FY'26). The award was presented to ePlus for strong growth, disciplined pipeline execution, deep technical expertise, and close alignment with NetApp priorities for flash.
The North America Partner Awards winners have exemplified NetApp's goal of being customer-centric and understanding and selling NetApp solutions across its cloud, flash, and NetApp Keystone® portfolios.
ePlus works with NetApp to help drive the outcomes critical to modern IT. Flash storage provides faster speeds, higher durability, and lower power consumption compared to traditional spinning disks. For customers modernizing on NetApp all-flash storage, ePlus supports the entire lifecycle, from workload assessment and architecture design through migration, optimization, ongoing managed support, and future technology refreshes.
"Now more than ever, we must empower customers with AI-ready data that is secure by default and built for hybrid environments so they can achieve their business outcomes," said Alvaro Celis, Senior Vice President, Chief Commercial, Partner and Ecosystem Officer at NetApp. "I want to congratulate ePlus on being named our North America Flash Partner of the Year. Their use of the NetApp Platform to help customers simplify data ecosystems and solve complex problems exemplifies what it means to drive innovation in the AI era."
"With data center and storage solutions front and center of every modernization conversation, our work with NetApp has become increasingly relevant and important to helping customers achieve their goals in a rapid, efficient and cost-effective way," said Ken Farber, ePlus president of strategy, software and alliances. "Our services-led model helps customers move beyond the technology itself and focus on the business outcomes they want to achieve. We're grateful to NetApp for this recognition and are committed to continuing to bring modern, performance-based Flash solutions to customers as they navigate a fast-moving AI world with complex infrastructure requirements."
ePlus brings more than 100 NetApp certifications, deep professional services expertise, and more than a decade of experience delivering Keystone. To learn more about the ePlus and NetApp partnership, please visit: https://www.eplus.com/how-we-partner/netapp.
About ePlus inc.
ePlus is a customer-first, services-led, and results-driven industry leader offering solutions and services that lay the technology groundwork to help organizations transform and modernize. ePlus brings a disciplined approach to delivering impactful business outcomes through expertise, consistent performance and world-class customer experience, as rated by 1,400 customer contacts in a 2026 net promoter score survey. With an expansive portfolio of AI, security, cloud and data center, networking and collaboration solutions – as well as managed, consultative and lifecycle services -- ePlus works with industry-leading technology partners to help customers achieve more. Founded in 1990, ePlus is headquartered in Virginia, with more than 2,130 employees and locations in the United States, United Kingdom, Europe, and Asia‐Pacific. For more information, visit www.eplus.com, call 888-482-1122, or email [email protected]. Connect with ePlus on LinkedIn, Facebook, and Instagram.
ePlus®, Where Technology Means More®, and ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies, products, and services mentioned herein may be the trademarks of their respective owners.
NETAPP, the NETAPP logo, and the marks listed at http://www.netapp.com/TM are trademarks of NetApp, Inc.
Counterpoint Mutual Funds LLC lowered its position in NetApp, Inc. (NASDAQ:NTAP – Free Report) by 88.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,420 shares of the data storage provider’s stock after selling 41,879 shares during the period. Counterpoint Mutual Funds LLC’s holdings in NetApp were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. purchased a new position in NetApp during the second quarter valued at $2,925,168,000. Primecap Management Co. CA acquired a new position in NetApp in the 2nd quarter valued at $1,395,423,000. First Trust Advisors LP grew its holdings in shares of NetApp by 127.0% during the first quarter. First Trust Advisors LP now owns 3,658,066 shares of the data storage provider’s stock worth $374,549,000 after buying an additional 2,046,912 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of NetApp in the second quarter worth about $258,093,000. Finally, Bank of America Corp DE purchased a new stake in NetApp during the 2nd quarter valued at about $235,682,000. Institutional investors own 92.17% of the company’s stock.
Insider Buying and Selling In related news, EVP Elizabeth M. O’callahan sold 1,000 shares of the stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $237.42, for a total value of $237,420.00. Following the sale, the executive vice president directly owned 29,737 shares of the company’s stock, valued at approximately $7,060,158.54. This represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas Nevens sold 5,940 shares of the company’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $195.21, for a total transaction of $1,159,547.40. Following the completion of the sale, the director directly owned 7,747 shares in the company, valued at $1,512,291.87. This trade represents a 43.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 173,524 shares of company stock valued at $35,018,126 in the last quarter. Corporate insiders own 0.36% of the company’s stock.
Wall Street Analyst Weigh In NTAP has been the topic of a number of analyst reports. Northland Securities lifted their price objective on NetApp from $171.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, September 3rd. Loop Capital set a $300.00 target price on NetApp in a research report on Wednesday, October 7th. Cantor Fitzgerald raised NetApp to an “overweight” rating in a research report on Wednesday, October 7th. Bank of America boosted their price objective on NetApp from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, September 30th. Finally, Wells Fargo & Company raised their price objective on shares of NetApp from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $213.20. View Our Latest Report on NetApp
NetApp Price Performance Shares of NTAP opened at $203.80 on Friday. The stock has a market cap of $40.03 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.19 and a beta of 1.46. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. NetApp, Inc. has a 1-year low of $93.69 and a 1-year high of $240.87. The firm has a fifty day moving average price of $201.97 and a 200 day moving average price of $163.26.
NetApp (NASDAQ:NTAP – Get Free Report) last posted its quarterly earnings data on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the company earned $1.15 earnings per share. The company’s revenue was up 29.9% compared to the same quarter last year. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. As a group, sell-side analysts anticipate that NetApp, Inc. will post 8.32 EPS for the current year.
NetApp Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Stockholders of record on Friday, October 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, October 9th. NetApp’s dividend payout ratio is 29.34%.
About NetApp (Free Report)
NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.
Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp’s offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.
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NetApp (NTAP - Free Report) has been one of the most searched-for stocks on Zacks.com lately. So, you might want to look at some of the facts that could shape the stock's performance in the near term.
Over the past month, shares of this data storage company have returned +16%, compared to the Zacks S&P 500 composite's +2.1% change. During this period, the Zacks Computer- Storage Devices industry, which NetApp falls in, has lost 11.9%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
NetApp is expected to post earnings of $2.60 per share for the current quarter, representing a year-over-year change of +26.8%. Over the last 30 days, the Zacks Consensus Estimate remained unchanged.
For the current fiscal year, the consensus earnings estimate of $10.05 points to a change of +23.6% from the prior year. Over the last 30 days, this estimate has remained unchanged.
For the next fiscal year, the consensus earnings estimate of $11.03 indicates a change of +9.7% from what NetApp is expected to report a year ago. Over the past month, the estimate has remained unchanged.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, NetApp is rated Zacks Rank #1 (Strong Buy).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Projected Revenue GrowthEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
In the case of NetApp, the consensus sales estimate of $2.11 billion for the current quarter points to a year-over-year change of +23.8%. The $8.23 billion and $8.7 billion estimates for the current and next fiscal years indicate changes of +18.9% and +5.7%, respectively.
Last Reported Results and Surprise HistoryNetApp reported revenues of $2.03 billion in the last reported quarter, representing a year-over-year change of +29.9%. EPS of $2.58 for the same period compares with $1.55 a year ago.
Compared to the Zacks Consensus Estimate of $1.84 billion, the reported revenues represent a surprise of +9.86%. The EPS surprise was +21.13%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
Comparing the current value of a company's valuation multiples, such as its price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), to its own historical values helps ascertain whether its stock is fairly valued, overvalued, or undervalued, whereas comparing the company relative to its peers on these parameters gives a good sense of how reasonable its stock price is.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
NetApp is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about NetApp. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term.
On October 14, 2026, NetApp Inc NTAP shares fell 7.0%, currently priced at $222.20. This decline comes in the context of a 52-week range between $93.69 and $240.87, illustrating significant volatility. The stock has seen a year-to-date increase of 110.7%, but today's drop marks a notable shift in momentum.
GF Value™ verdict: Current price of $222.20 is 63.5% above GF Value™ of $135.89, indicating overvaluation.GF Score™ of 80/100 suggests a strong overall performance, particularly in profitability and growth.Insider activity signals caution, with $46.2M in sales and no buying over the past year.Is NTAP Overvalued or Undervalued?The current valuation of NetApp Inc NTAP reveals a significant disparity when compared to the GF Value™ estimate. With a GF Value™ set at $135.89, NTAP is currently trading at a price that is 63.5% above its intrinsic value. This overvaluation indicates a lack of a margin of safety for potential investors. The GF Valuation label categorizes the stock as significantly overvalued, which raises concerns regarding the sustainability of its current price level.
GF Value™ represents GuruFocus' proprietary estimate of a stock's intrinsic worth, built from historical trading multiples, past growth performance, and future expectations. In this case, the substantial difference between the market price and the GF Value™ suggests that investors may face heightened risk if they purchase shares at this inflated level.
How Does NTAP's Valuation Compare to Its History?MetricCurrentHistoricalP/E (TTM)31.4x19.1xForward P/E22.2xN/AAnalyzing the stock's current P/E ratio of 31.4x reveals that it is trading 65% above its 5-year median P/E of 19.1x. This elevated P/E level aligns with the GF Value™ assessment, confirming that NTAP is overvalued compared to its historical valuation metrics. The forward P/E of 22.2x further indicates that the market is pricing in optimistic growth expectations, which may not be sustainable given the current valuation landscape.
What Does NTAP's GF Score™ Tell Us?The GF Score™ measures a company's financial health and growth potential by evaluating various aspects of its performance. For NTAP, the score stands at a solid 80/100, reflecting strengths particularly in profitability and growth. However, the valuation rank is notably low at 1/10, indicating that the stock is perceived as overvalued based on its current price.
MetricRatingGF Score™80/100Financial Strength6/10Profitability9/10Growth9/10Valuation1/10Momentum6/10The strong profitability and growth rankings underscore NetApp's operational efficiency and potential for expansion. However, the low valuation rank signals caution regarding the current price level, suggesting that while the company is performing well operationally, its stock price may not reflect this reality.
What Are Gurus and Insiders Doing with NTAP?Currently, 9 gurus hold positions in NTAP, with 4 adding to their stakes and 5 trimming their positions in recent quarters. This mixed signal indicates a divergence in sentiment among institutional investors. Notably, insiders have sold $46.2M worth of shares over the past 12 months, with no recorded buying activity. This trend of selling could imply that those with the most intimate knowledge of the company may be cautious about its outlook, which adds a layer of risk for potential investors.
What This Means for InvestorsIn summary, NetApp Inc NTAP appears to be significantly overvalued based on the GF Value™ assessment, which highlights a substantial disconnect between its current market price and intrinsic value. This situation necessitates careful consideration for those looking at NTAP as a potential investment. For further insights on NetApp Inc (NTAP), visit the NetApp Inc (NTAP) stock page, along with the GF Value™ page for more detailed valuation analysis.
Frequently Asked QuestionsWhat is NTAP's GF Score™?
NTAP's GF Score™ is 80/100, indicating a strong overall performance with notable strengths in profitability and growth.
Is NTAP overvalued or undervalued?
NTAP is currently overvalued, trading at 63.5% above its GF Value™ of $135.89.
What is NTAP's P/E ratio?
NTAP's P/E ratio is 31.4x, which is significantly above its 5-year median P/E of 19.1x, indicating overvaluation.
This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Disclosures
I/We may personally own shares in some of the companies mentioned above. However, those positions are not material to either the company or to my/our portfolios.
In the latest close session, NetApp (NTAP - Free Report) was down 7.03% at $222.20. The stock fell short of the S&P 500, which registered a loss of 1.11% for the day. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw a decrease of 1.88%.
Shares of the data storage company have appreciated by 25.84% over the course of the past month, outperforming the Computer and Technology sector's gain of 3.49%, and the S&P 500's gain of 2.06%.
The upcoming earnings release of NetApp will be of great interest to investors. The company is forecasted to report an EPS of $2.6, showcasing a 26.83% upward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.11 billion, up 23.83% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $10.05 per share and a revenue of $8.23 billion, demonstrating changes of +23.62% and +18.91%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for NetApp. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. NetApp is currently sporting a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, NetApp is currently exchanging hands at a Forward P/E ratio of 23.78. This expresses a premium compared to the average Forward P/E of 11.26 of its industry.
It's also important to note that NTAP currently trades at a PEG ratio of 2.13. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Computer- Storage Devices stocks are, on average, holding a PEG ratio of 1.5 based on yesterday's closing prices.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 24, which puts it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NTAP in the coming trading sessions, be sure to utilize Zacks.com.
Quarterly revenue increased 30%, while free cash flow declined 35%.
Summary
NetApp’s storage growth must also produce stronger cash returns.
NetApp, the enterprise storage and data-management supplier NTAP, faces fresh scrutiny after a Barclays downgrade, with shares at $224.59, down approximately 6.0%, at 12:11:54 p.m. ET on October 14. According to Stocktwits, analyst Tim Long cut his rating to Equal Weight from Overweight and kept his $219 price target. That target sits below the trading price. The valuation graphic adds another pressure point: shares stand 65.27% above the $135.89 GF Value estimate, suggesting substantial growth expectations are already priced in.
The cash numbers deserve attention. NetApp reported fiscal first-quarter revenue of $2.025 billion, up 30% from a year earlier, while free cash flow fell 35% to $401 million. That leaves free cash flow at roughly 19.8% of revenue. All-flash array sales jumped 47% to $1.3 billion, and GAAP operating margin reached 23.9%. Storage demand looks strong. But faster sales have yet to translate into stronger cash generation.
One weak cash-flow quarter does not prove the business is losing steam. Payment timing, working capital and capital spending can all change the picture. Still, a stock carrying this valuation premium has a higher bar to clear. The next test is straightforward: keep storage sales growing and turn more of that revenue into cash. An AI growth story becomes more convincing when it also produces the money to fund expansion and shareholder returns.
Disclosures
I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours.
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is NetApp (NTAP - Free Report) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
NetApp is one of 619 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. NetApp is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NTAP's full-year earnings has moved 16.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, NTAP has moved about 123.4% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 22.7%. This means that NetApp is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Lenovo Group Ltd. (LNVGY - Free Report) . The stock has returned 245.7% year-to-date.
Over the past three months, Lenovo Group Ltd.'s consensus EPS estimate for the current year has increased 38.1%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, NetApp belongs to the Computer- Storage Devices industry, a group that includes 7 individual companies and currently sits at #26 in the Zacks Industry Rank. This group has gained an average of 197.5% so far this year, so NTAP is slightly underperforming its industry in this area.
Lenovo Group Ltd., however, belongs to the Computer - Micro Computers industry. Currently, this 5-stock industry is ranked #5. The industry has moved +32.3% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on NetApp and Lenovo Group Ltd. as they attempt to continue their solid performance.
Key Takeaways NTAP's $1.1 billion net cash position and $401 million in quarterly free cash flow support its AI expansion.Acquisitions of DataPelago & JetStream, with the planned PEAK:AIO buyout, strengthen NTAP's AI capabilities.NetApp raised its fiscal 2027 revenue outlook to $7.975B-$8.225B, while integration risks remain a concern.
NetApp’s (NTAP - Free Report) soild balance sheet and healthy cash generation provide ample financial flexibility to boost its AI investments. The company ended the first quarter of fiscal 2027 with $3.6 billion in cash, cash equivalents and investments against $2.5 billion in gross outstanding debt, resulting in a net cash position of $1.1 billion.
This financial strength positions NetApp to pursue strategic M&A and product innovation to capitalize on increasing demand for AI infrastructure while maintaining flexibility to support shareholder returns.
NetApp generated $503 million in operating cash flow and $401 million in free cash flow during the fiscal first quarter. The company also returned $302 million to its shareholders, comprising $200 million in share repurchases and $102 million in dividends in the fiscal first quarter.
The strong top-line performance further supports its investment capacity. Fiscal first-quarter revenues increased 30% year over year to $2.03 billion, while non-GAAP operating income grew 61% to $645 million.
For fiscal 2027, revenues are now forecasted at $7.975-$8.225 billion, with the $8.10 billion midpoint representing 17% growth and a $650 million increase from prior guidance.
M&A Strengthens AI CapabilitiesNetApp is strategically deploying capital to expand its AI capabilities. The company acquired DataPelago, which specializes in AI data infrastructure. The deal expands NetApp's intelligent data infrastructure portfolio by bringing GPU-accelerated data processing directly to the storage layer.
The subsequent JetStream acquisition strengthened its cloud-native disaster recovery and migration capabilities, particularly for VMware environments.
NetApp recently announced its intention to acquire PEAK:AIO. The deal focuses on a key challenge for large AI clusters – enabling thousands of GPUs to access huge amounts of data and metadata quickly and efficiently. The proposed combination of PEAK:AIO’s metadata architecture and parallel file-system technology with NetApp’s ONTAP platform could give the company a pathway toward supporting AI environments containing trillions of files and multi-exabyte datasets.
Though acquisitions add capabilities, they also increase integration and intangible-asset exposure. Goodwill and purchased intangible assets increased to $2.95 billion as of July 31, 2026, from $2.79 billion as of April 24, and represented about 27% of total assets.
NetApp's substantial liquidity provides a solid foundation for its AI expansion strategy, but effective integration of acquisitions and sustained cash generation will remain integral to translating these investments into long-term growth amid intense competition.
Cash Profile for CompetitorsEverpure (P - Free Report) , formerly Pure Storage, is one of the closest competitors to NetApp. The company is strengthening its AI infrastructure portfolio through innovation and strategic M&A. In May 2026, it completed the acquisition of 1touch, which specializes in data intelligence and orchestration.
P generated $1.19 billion in second-quarter fiscal 2027 revenues, up 38% year over year. The company ended the quarter with more than $1 billion in cash and investments. However, Everpure reported negative operating cash flow of $136 million and negative free cash flow of $238 million in the quarter, primarily reflecting strategic component purchases to secure supply. Management expects fiscal 2027 free cash flow of $600-$800 million. In September, Everpure reaffirmed its fiscal 2027 revenue outlook of $5.03-$5.07 billion and provided a preliminary fiscal 2028 revenue outlook of $7-$7.3 billion.
International Business Machines (IBM - Free Report) is also pursuing strategic M&A to expand its AI capabilities. Its acquisition of Confluent (March 2026) strengthened its real-time data streaming capabilities, supporting enterprise AI applications. In August 2026, IBM completed the acquisition of HRL Laboratories to accelerate the quantum computing roadmap, reflecting its broader investment in next-generation technologies.
IBM's acquisition-led transformation has increased balance sheet complexity. Total debt was $62 billion at the end of the second quarter of 2026, while cash, restricted cash and marketable securities fell to $8.2 billion from $14.5 billion at year-end 2025, partly due to the Confluent acquisition. Goodwill increased to $74.6 billion. Although IBM generated $4.8 billion of free cash flow in the first half of 2026, elevated leverage can limit flexibility for dividends, acquisitions and other growth investments.
NTAP Price Performance, Valuation and EstimatesNTAP’s shares have gained 27.1% in the past month against the Computer Storage Devices industry’s decline of 2%
Image Source: Zacks Investment Research
The stock is trading at a 12-month forward price/sales ratio of 22.79X, considerably higher than 9.63X for the industry.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NTAP’s current year earnings has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
NTAP currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NetApp, Inc. (NASDAQ:NTAP – Get Free Report) hit a new 52-week high during mid-day trading on Tuesday. The company traded as high as $239.80 and last traded at $239.18, with a volume of 2,369,647 shares traded. The stock had previously closed at $237.15.
Analysts Set New Price Targets A number of equities research analysts have recently commented on the stock. Citigroup reduced their price objective on shares of NetApp from $209.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, September 3rd. Wedbush increased their price objective on shares of NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Argus set a $225.00 target price on shares of NetApp in a research note on Friday, September 11th. Loop Capital set a $300.00 target price on shares of NetApp in a report on Wednesday, October 7th. Finally, UBS Group boosted their target price on shares of NetApp from $160.00 to $171.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $213.20.
View Our Latest Analysis on NetApp
NetApp Price Performance The company has a debt-to-equity ratio of 1.30, a current ratio of 1.24 and a quick ratio of 1.16. The business’s fifty day simple moving average is $199.53 and its 200 day simple moving average is $160.42. The firm has a market capitalization of $46.98 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 2.55 and a beta of 1.46. NetApp (NASDAQ:NTAP – Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%. The business had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business earned $1.15 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, research analysts forecast that NetApp, Inc. will post 8.32 EPS for the current year.
NetApp Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Friday, October 9th. This represents a $2.08 annualized dividend and a yield of 0.9%. NetApp’s dividend payout ratio is presently 29.34%.
Insider Transactions at NetApp In other news, President Cesar Cernuda sold 2,608 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $204.48, for a total transaction of $533,283.84. Following the completion of the sale, the president directly owned 46,530 shares of the company’s stock, valued at $9,514,454.40. The trade was a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO George Kurian sold 50,000 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $209.95, for a total transaction of $10,497,500.00. Following the completion of the sale, the chief executive officer owned 218,537 shares in the company, valued at $45,881,843.15. This represents a 18.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 172,524 shares of company stock valued at $34,780,706. Corporate insiders own 0.36% of the company’s stock.
Hedge Funds Weigh In On NetApp A number of hedge funds have recently added to or reduced their stakes in NTAP. Oppenheimer Asset Management Inc. purchased a new position in NetApp in the second quarter worth $2,210,000. Plato Investment Management Ltd bought a new position in NetApp in the 2nd quarter valued at $1,571,000. Bank of America Corp DE purchased a new stake in shares of NetApp during the 2nd quarter valued at $235,682,000. Insight Wealth Strategies LLC purchased a new stake in shares of NetApp during the 2nd quarter valued at $5,845,000. Finally, Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of NetApp during the 1st quarter valued at $1,107,000. Institutional investors and hedge funds own 92.17% of the company’s stock.
NetApp Company Profile (Get Free Report)
NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.
Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp’s offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.
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NetApp (NTAP - Free Report) closed at $231.22 in the latest trading session, marking a -1.93% move from the prior day. This change lagged the S&P 500's daily loss of 0.47%. On the other hand, the Dow registered a gain of 0.1%, and the technology-centric Nasdaq decreased by 1.25%.
Heading into today, shares of the data storage company had gained 27.62% over the past month, outpacing the Computer and Technology sector's gain of 6.08% and the S&P 500's gain of 1.15%.
The investment community will be paying close attention to the earnings performance of NetApp in its upcoming release. It is anticipated that the company will report an EPS of $2.6, marking a 26.83% rise compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.11 billion, indicating a 23.83% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $10.05 per share and a revenue of $8.23 billion, representing changes of +23.62% and +18.91%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NetApp. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. NetApp currently has a Zacks Rank of #1 (Strong Buy).
With respect to valuation, NetApp is currently being traded at a Forward P/E ratio of 23.46. This denotes a premium relative to the industry average Forward P/E of 10.77.
It's also important to note that NTAP currently trades at a PEG ratio of 2.1. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Computer- Storage Devices industry currently had an average PEG ratio of 1.43 as of yesterday's close.
The Computer- Storage Devices industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 4, placing it within the top 2% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NTAP in the coming trading sessions, be sure to utilize Zacks.com.
Earnings season is a hectic period for market participants, with companies finally pulling the curtain back and unveiling what’s transpired behind closed doors.
But it’s impossible to understate the importance of the period. For those curious, let’s take a look at a few aspects that help illustrate its importance.
Critical Business Updates
Earnings reports provide market participants with a plethora of information, including revenues, expenses, and profits, just to provide a few simple examples. It’s critical for investors to receive this information, as it gives a deeper view into the business and allows them to see any potential red flags.
In addition, quarterly reports provide deeper insights into a company's strategy and future. For example, the report may detail new products or services planned to launch or discuss plans for tapping into new markets. By understanding a company's strategy, investors can evaluate its long-term growth potential with a higher level of ease.
Impact on Stock Prices
A company’s quarterly earnings report will commonly impact its stock price, a theme market participants have undoubtedly noticed. Typically, we’ll see big share price moves post-earnings from stocks in volatile sectors such as Technology and Energy, but defensive stocks are also just as susceptible.
Of course, knowing whether to hold shares through an earnings release typically isn’t an easy decision. For those who don’t want to sell out of their position and potentially miss a significant move up, implementing a stop-loss at a comfortable threshold will help limit the drawdown of spooky price swings post-earnings.
NetApp (NTAP - Free Report) , a current Zacks Rank #1 (Strong Buy), delivered rock-solid results recently, posting quarterly revenue of roughly $2.0 billion, up 30% YoY, while adjusted earnings of $2.09 climbed an even stronger 75% from the same period last year. NTAP shares initially faced pressure following the release but roared back fiercely, with its earnings outlook remaining bullish across the board.
Sentiment & Current Market Trends
Earnings season can also provide a big-picture view of overall sentiment within the economy, an aspect that some tend to overlook.
For example, if many companies report solid quarterly results, it likely indicates the economy is performing well and the stock market could benefit. Conversely, if many companies report weaker-than-expected earnings, it may signal a slowing economy, which could negatively affect stocks.
Bottom Line
While earnings season is an undeniably hectic period for all involved, that’s just the nature of the period.
And it’s essential for several reasons, including providing investors with an updated financial standing, the volatile price swings commonly seen post-earnings, and the overall picture it provides on market sentiment.
Key Takeaways NetApp shares surged 147.2% in six months, outperforming the industry, driven by strong business momentum.AI demand and all-flash growth fueled NTAP's 30% revenue growth to $2.03 billion in the Q1'FY27.NTAP's 27.23X forward P/E and rising component costs raise concerns despite strong earnings growth. NetApp, Inc.’s (NTAP - Free Report) shares have surged 147.2% in the past six months, outperforming the Zacks Computer & Technology sector and the Zacks Computer- Storage Devices industry, which gained 28.2% and 59.2%, respectively. The S&P 500 composite is up 15.9% over the same time frame.
The company faces stiff competition from its peers such as Super Micro Computer, Inc. (SMCI - Free Report) , Hewlett Packard Enterprise Company (HPE - Free Report) and Seagate Technology Holdings plc (STX - Free Report) . SMCI, HPE and STX have climbed 93.6%, 191.9% and 61.5%, respectively, in the past six months.
Image Source: Zacks Investment Research
Let us take a closer look at NTAP’s fundamentals, key growth drivers, competitive strengths and potential risks to determine whether the stock remains an attractive investment.
Strong Demand and Broad-Based Business MomentumNetApp is benefiting from robust demand for intelligent data infrastructure, supported by increasing investments in AI, cloud adoption and enterprise modernization. The company's unified data platform, which combines high-performance storage, data management and cyber resilience capabilities, is strengthening its competitive position across diverse industries. NetApp reported revenues of $2.03 billion in the first quarter of fiscal 2027, representing 30% year-over-year growth, or 26% excluding the additional week.
The company witnessed strong demand across customer segments, geographies and workloads, supported by new customer additions, expansion within existing accounts and technology refresh activities. Increasing adoption of its solutions for mission-critical workloads, along with multiyear customer agreements, is expected to sustain growth momentum. Reflecting this strength, NetApp raised its fiscal 2027 revenue guidance to $7.96-$8.26 billion, indicating confidence in its business prospects.
Image Source: Zacks Investment Research
Growing Adoption of All-Flash and Hybrid Storage SolutionsNetApp is benefiting from increasing demand for its all-flash array portfolio as enterprises prioritize storage infrastructure capable of supporting high-performance applications and AI-intensive workloads. In the first quarter of fiscal 2027, all-flash array revenues surged 47% year over year to $1.31 billion, driven by the growing adoption of low-latency, scalable and cyber-resilient storage solutions. The company is witnessing increased traction for its unified storage architecture as customers seek to consolidate workloads, improve operational efficiency and optimize infrastructure spending.
Demand for hybrid-flash solutions is also strengthening, particularly among customers looking to balance performance requirements with cost-effective capacity expansion. NetApp's ability to address diverse customer needs through its broad storage portfolio is supporting competitive wins and expanding its presence in enterprise infrastructure.
AI-Led Modernization Expands Growth OpportunitiesThe accelerating adoption of AI is creating significant opportunities for NetApp as enterprises modernize their data infrastructure to support advanced analytics, AI inference and GPU-intensive applications. The company's platform enables customers to access and process data in place, reducing data movement while maintaining security, governance and operational control. In the first quarter of fiscal 2027, NetApp secured approximately 350 AI and data lake modernization deals, with deal sizes increasing as customers transitioned from pilot projects to production environments. Notable customer wins included Samsung Electronics, a public-sector organization deploying NetApp AFX with NVIDIA SuperPOD, and an Asian neocloud provider developing AI inference services.
The acquisition of DataPelago further strengthens NetApp's AI capabilities by enabling high-performance, in-place data processing. Recently, the company partnered with Diskover Data to extend metadata discovery and governance capabilities across ONTAP and StorageGRID environments. The collaboration is expected to enhance data visibility and management for enterprises handling large volumes of unstructured data, further strengthening NetApp's position in AI-ready infrastructure.
Public Cloud Expansion and Strategic PartnershipsNetApp's public cloud business continues to benefit from enterprise cloud migrations and growing demand for scalable, secure and efficient storage services. Public Cloud revenues increased 28% year over year to $206 million in the first quarter of fiscal 2027, reflecting strong adoption of first-party and marketplace storage offerings. Excluding the additional week, revenues grew 19%. Solutions such as Amazon FSx for NetApp ONTAP and Azure NetApp Files are gaining traction as organizations migrate VMware workloads and modernize applications. The acquisition of JetStream further enhances NetApp's cloud capabilities by strengthening disaster recovery and migration solutions for VMware environments.
Recently, NetApp announced an expanded collaboration with Oracle to bring native ONTAP data management capabilities to Oracle Cloud Infrastructure through a fully managed storage service. The company also unveiled plans to deepen its partnership with SAP to support secure and resilient cloud storage. Additionally, its collaboration with Supermicro aims to deliver integrated AI infrastructure solutions that reduce data bottlenecks and improve GPU utilization. These initiatives are expected to expand NetApp's reach across hybrid-cloud and AI infrastructure markets.
Keystone Momentum and Product InnovationNetApp is witnessing growing adoption of its Keystone storage-as-a-service offering as enterprises increasingly favor flexible consumption models over traditional infrastructure purchases. Keystone revenues increased approximately 65% in fiscal 2026, highlighting sustained customer demand for cloud-like storage consumption. In the first quarter of fiscal 2027, Professional Services revenues increased 15% year over year to $112 million, primarily benefiting from continued Keystone expansion. The company is focusing on attracting new customers and enhancing the offering's capabilities to support broader adoption.
Recently, NetApp introduced Keystone Sovereign, targeting qualified customers in Germany and France with additional regional, operational and data-handling controls designed to address data sovereignty requirements. At its INSIGHT 2026 event, NetApp unveiled Novus, a high-performance file system designed to support GPU-intensive workloads. These developments are expected to strengthen the company's competitive position in regulated industries, AI infrastructure and flexible storage services.
Improving Profitability and Financial FlexibilityNetApp's disciplined operating model and expanding revenue base are supporting profitability and cash flow generation. In the first quarter of fiscal 2027, non-GAAP gross profit increased 29% year over year to $1.43 billion, while operating income surged 61% to $645 million. Non-GAAP operating margin expanded 610 basis points (bps) to 31.9%, reflecting strong operating leverage and effective expense management. Non-GAAP earnings per share increased 66% year over year to $2.58, outpacing revenue growth. The company generated $503 million in operating cash flow and $401 million in free cash flow during the quarter.
NetApp also returned $302 million to shareholders through dividends and share repurchases. Its solid liquidity position, supported by $3.6 billion in cash and short-term investments against $2.5 billion in gross debt, provides financial flexibility to pursue strategic investments and growth initiatives. Backed by encouraging business momentum, NetApp raised its fiscal 2027 non-GAAP earnings guidance to $9.73-$10.03 per share, reinforcing its focus on profitable growth and shareholder returns.
Margin Pressures and Rising Component Costs Remain ConcernsDespite strong business momentum, NetApp faces challenges from rising component costs, an evolving revenue mix and potential fluctuations in customer purchasing patterns. In the first quarter of fiscal 2027, non-GAAP gross margin contracted 50 bps year over year to 70.6%, primarily due to a higher contribution from lower-margin product revenues. Product gross margin declined 150 bps sequentially to 54.6%, reflecting increased component costs, partially offset by favorable pricing. Management expects gross margin to decline sequentially to 67-68% in the second quarter, mainly due to a greater product revenue mix.
Elevated component prices could continue to pressure profitability, despite the company's pricing initiatives and supply management efforts. Moreover, some customers are postponing lower-priority projects or shifting toward hybrid-flash solutions to manage infrastructure spending. The acceleration of certain purchases into the first quarter could also create variability in future demand patterns, while higher inventory levels and continued investments in AI solutions may add to operating complexities. These factors could weigh on NetApp's near-term margin performance despite the favorable long-term demand environment.
NTAP’s ValuationNTAP trades at a forward 12-month price-to-earnings (P/E) of 27.23X, above the industry’s 10.11X. SMCI, HPE and STX trade at a forward 12-month P/E of 10.11X, 17.09X and 19.32X, respectively.
Image Source: Zacks Investment Research
The premium valuation is justified to an extent by the company’s strong growth trajectory, improving profitability, robust demand for its cloud and AI solutions, and favorable long-term growth prospects.
NTAP’s Estimates Revised UpwardThe Zacks Consensus Estimate for NTAP’s earnings for fiscal 2026 has been revised upward over the past 30 days.
Image Source: Zacks Investment Research
The upward estimate revision reflects improving analyst sentiment and indicates growing confidence in NetApp’s earnings prospects.
What Should You Do With NTAP Stock Now?NetApp’s AI-driven demand, strong all-flash storage growth, expanding cloud business and robust cash generation strengthen its long-term growth prospects. However, its premium valuation and margin pressures warrant some caution.
Existing investors may stay invested to benefit from the company’s growth prospects, while new investors can consider buying the stock given its strong fundamentals and favorable earnings outlook.
Currently, NetApp sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.
Evercore ISI Group analyst Amit Daryanani upgraded NetApp Inc (NASDAQ:NTAP) from In-Line to Outperform and raised the price target from $210 to $300. NetApp closed at $228.45 on Tuesday. See how other analysts view this stock. Cantor Fitzgerald analyst Sarah James upgraded Humana Inc (NYSE:HUM) from Neutral to Overweight and boosted the price target from $300 to $460. Humana shares closed at $404.27 on Tuesday. See how other analysts view this stock. Keybanc analyst Salvator Tiano upgraded Corteva Inc (NYSE:CTVA) from Sector Weight to Overweight and announced a $17 price target. Corteva closed at $13.91 on Tuesday. See how other analysts view this stock. JP Morgan analyst Marcelo Santos upgraded Afya Ltd (NASDAQ:AFYA) from Neutral to Overweight and cut the price target from $21 to $19. Afya shares closed at $13.92 on Tuesday. See how other analysts view this stock. Citigroup analyst Ariel Rosa upgraded XPO Inc (NYSE:XPO) from Neutral to Buy and raised the price target from $220 to $224. XPO closed at $183.49 on Tuesday. See how other analysts view this stock. Considering buying NTAP stock? Here’s what analysts think:
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NetApp (NTAP) has more than doubled over the last nine months, though as Tom White points out, the stock is becoming overbought. He highlights key support and resistance levels to watch as bullish momentum faces its next key test at all-time highs.
Constellation Brands (STZ) moved to the upside but linger near decade-lows after earnings, as Diane King Hall explains how the big picture of consumer demand differs from headline numbers in the report. NetApp (NTAP) opened at an all-time high after Evercore ISI upgraded the stock and boosted its price target.
Key Takeaways NetApp and Diskover Data joined forces to extend metadata discovery to ONTAP and StorageGRID environments.NetApp recorded more than 1,100 AI and data preparation wins in fiscal 2026, up from roughly 400.Diskover helps address visibility gaps as AI, media, semiconductor and scientific data drive file growth. The explosive growth of unstructured data is creating a new challenge for enterprises: storing data is no longer enough. The challenge seems acute in media and entertainment, semiconductor design, life sciences, and other industries built around massive file estates. To address it, Diskover Data and NetApp, Inc. (NTAP - Free Report) joined forces, extending Diskover Platform's metadata discovery and governance capabilities to NetApp ONTAP and StorageGRID environments. The collaboration is likely to strengthen NetApp's value proposition in file-intensive industries while giving Diskover a powerful enterprise channel for expanding its data discovery platform.
NetApp has solidified its foothold in enterprise data infrastructure, with ONTAP and StorageGRID supporting organizations across on-premises, hybrid and cloud environments. However, as storage estates grow, customers can struggle to understand the enormous volumes of files residing across those environments. Diskover's DataDiscovery is designed to address that visibility gap. Using specialized scanners, the platform indexes metadata directly from ONTAP and StorageGRID.
For NetApp, the partnership strengthens the ecosystem around its storage infrastructure. Customers increasingly expect storage platforms to provide more than capacity and performance. By connecting Diskover's specialized discovery capabilities to ONTAP and StorageGRID, NetApp can potentially increase the strategic value of those platforms. The benefit is relevant as enterprises deal with explosive data growth driven by AI, high-resolution media, semiconductor design, scientific computing and cloud applications.
Furthermore, NetApp is positioning its unified data platform to activate enterprise data for AI without moving data. The company recorded more than 1,100 AI and data preparation wins in fiscal 2026 compared with roughly 400 in the prior year. In the first quarter of fiscal 2027, it added about 350 AI and data lake modernization deals, with management noting larger deal sizes as prior pilots moved into production. DataPelago adds in-place data processing capabilities, while AFX and the AI Data Engine target high-performance AI workloads and governed data access. Management said AI is also driving broader modernization of databases and unstructured data environments, expanding the opportunity beyond dedicated AI infrastructure.
NTAP’s Competitive TerrainSmith Micro Computer (SMCI - Free Report) rides on expanding AI infrastructure demand, supported by rapid adoption of new GPU platforms, its modular Building Block architecture, liquid-cooling expertise and a broader DCBBS offering. Supermicro’s Open Storage Summit 2026, held in August, focused on the data infrastructure needed to deploy enterprise AI at scale. The event brought together Supermicro and ecosystem partners, including AMD, DDN, IBM, Intel, KIOXIA, MinIO, Nutanix, VAST Data and Western Digital, to discuss AI inference, agentic AI, hybrid-cloud storage, context memory and unstructured data management. The summit also highlighted Supermicro’s DCBBS architecture, which provides modular, validated AI infrastructure from servers and networking to rack and data-center-level solutions.
Hewlett Packard Enterprise (HPE - Free Report) is benefiting from a broader shift toward AI infrastructure, networking modernization and hybrid cloud, with Juniper expanding its addressable market and integration synergies supporting earnings growth. In September, HPE expanded its collaboration with Oracle to deploy HPE Juniper Networking across Oracle’s global AI data centers, supporting the company’s gigawatt-scale AI infrastructure expansion with networking services and financing capabilities. In June, it announced multiple AI infrastructure innovations, including a sovereign private AI cloud deployment for Siemens Energy, expanded self-driving networking capabilities and new AI Factory and Private Cloud AI solutions to help enterprises securely deploy and manage agentic AI workloads.
NTAP Price Performance, Valuation & EstimatesNetApp shares have gained 89.7% in the past year compared with the Computer-Storage Devices industry’s growth of 281.6%.
Image Source: Zacks Investment Research
Regarding the price/book ratio, NTAP is trading at 29.40, higher than the industry’s multiple of 15.95.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NTAP’s earnings for fiscal 2027 has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
NTAP currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
DALLAS, Oct. 06, 2026 (GLOBE NEWSWIRE) -- Spectral AI, Inc. (Nasdaq: MDAI) (“Spectral AI” or the “Company”), an artificial intelligence (AI) company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, today announced the submission of a New Technology Add-On Payment (NTAP) application to the Centers for Medicare & Medicaid Services (CMS) for its DeepView™ System utilizing the alternative pathway.
The NTAP program is designed to provide an additional hospital inpatient payment for eligible procedures involving new technologies or medical services that meet CMS requirements, helping to address the additional costs associated with incorporating innovative technologies into patient care while providing timely access to these advancements.
Spectral AI's DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration (“FDA”) in May 2026.
“We are investing significant capital in pursuing additional reimbursement pathways as we recognize the importance of supporting hospitals as they incorporate the DeepView System into their clinical workflows and facilitate patient access to care for this innovative technology,” said Vincent Capone, Chief Executive Officer. “An NTAP payment, if approved, would represent a meaningful component of the economic value proposition for hospital systems that adopt the DeepView System. It could help offset a meaningful portion of the incremental cost of incorporating this innovative technology into the patient workflow, while enabling clinicians to access rapid, objective information to support burn-wound assessment and treatment decisions.”
Under the NTAP program, qualifying cases may receive an additional Medicare payment, subject to applicable CMS requirements and payment limitations. Generally, the additional payment is limited to approximately 65% of the estimated cost of the new technology. The Company’s Breakthrough Device Designation and recent FDA De Novo marketing authorization for the DeepView System has enabled us to pursue additional reimbursement opportunities as part of our commercialization process. The Company anticipates a final determination from CMS regarding its application in August 2027. If approved, NTAP payment status would generally be available beginning in October 2027 and continue for approximately three years.
Mr. Capone concluded, “Additional reimbursement support could improve patient access to care and help reduce adoption barriers for eligible health systems, making it easier to integrate and utilize the DeepView System in appropriate inpatient settings. We will continue to evaluate other payment and reimbursement pathways that support our commercialization objectives.”
About the DeepView™ System
Spectral AI's DeepView System is a non-invasive, predictive medical device that combines multispectral imaging with a proprietary AI algorithm to assess the healing potential of areas within burn wounds. It was granted De Novo Classification by the U.S. Food and Drug Administration in May 2026 and received its initial UKCA (UK Conformity Assessed) authorization in the United Kingdom in February 2024. The DeepView System provides physicians with an immediate, data-driven assessment of whether areas within burn wounds are unlikely to heal within 21 days and may require significant medical intervention, enabling earlier and more informed treatment decisions. The image acquisition takes 0.2 seconds, and all image processing and AI model classification takes approximately 20 to 25 seconds. The DeepView System is trained and tested against a proprietary and clinically validated database of over 340 billion pixels of burn wound image data.
About Spectral AI
Spectral AI, Inc. is a Dallas-based predictive AI company focused on medical diagnostics for faster and more accurate treatment decisions in wound care, with initial applications involving patients with burns. The Company is working to revolutionize the management of wound care by “Seeing the Unknown®” with its DeepView System. The DeepView System is a predictive diagnostic device that offers physicians an objective and immediate assessment of a wound’s healing potential prior to treatment or other medical intervention. With algorithm-driven results and a goal to exceed the current standard of care, the DeepView System provides fast and accurate treatment insights to improve patient outcomes and reduce healthcare costs. For more information about the DeepView System, visit www.spectral-ai.com.
The Company’s contract with the Biomedical Advanced Research and Development Authority (“BARDA”) is held and performed through its wholly owned subsidiary, Spectral MD. References to the contract, associated awards, related revenue, business opportunities, obligations, and other relevant factors should be understood to refer to Spectral MD as the contracting party unless otherwise indicated.
Forward-Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s strategy, plans, objectives, initiatives and financial outlook. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. As such, readers are cautioned not to place undue reliance on any forward-looking statements.
Investors should carefully consider the foregoing factors, and the other risks and uncertainties described in the “Risk Factors” sections of the Company’s filings with the US Securities and Exchange Commission, including the Company’s Registration Statement and the other documents filed by the Company. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
NetApp (NTAP) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions could translate into further price increase in the near term.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of NTAP either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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It has been about a month since the last earnings report for NetApp (NTAP - Free Report) . Shares have added about 16% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is NetApp due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent drivers for NetApp, Inc. before we dive into how investors and analysts have reacted as of late.
NetApp Q1 Earnings Beat Estimates
NetApp delivered a record first quarter of fiscal 2027, with non-GAAP earnings of $2.58 per share, up 66.5% year over year. The figure beat the Zacks Consensus Estimate of $2.13 by 21.1%.
Net revenues rose 29.9% to $2,025 million and surpassed the $1,843 million consensus mark by 9.9%. Strong AI and modernization spending, accelerated purchases and pricing benefits supported growth. Billings increased 36.1% to $2,057 million.
Hybrid Cloud Business Leads Growth
Hybrid Cloud revenues advanced 30.1% year over year to $1,819 million. Product revenues climbed 50.9% to $987 million, while support revenues increased 11.3% to $720 million. Professional and Other Services revenues rose 15.5% to $112 million, mainly on continued Keystone growth.
The quarter included an additional week, which contributed approximately $65 million to revenues, mainly from support and Public Cloud. Excluding that benefit, total revenues increased 26% year over year. Management also cited a healthier demand environment as customers invested in AI and infrastructure modernization.
Flash and Public Cloud Momentum Accelerates
All-flash array revenues reached a record $1,309 million, up 46.6% from the prior-year quarter. Hybrid-flash and other revenues were $510 million versus $505 million a year ago. Together, all-flash and Public Cloud represented 75% of quarterly net revenues.
Public Cloud revenues grew 28% to a record $206 million, reflecting strong first-party and marketplace storage demand. Adjusted for the extra week, Public Cloud growth was 19%. NetApp won approximately 350 AI and data lake modernization deals, with management noting larger deal sizes as customers moved from pilots to production. The company also acquired DataPelago to expand its AI data infrastructure capabilities.
Margin Details
Non-GAAP gross margin was 70.6%, down 50 basis points year over year. The decline reflected a larger product mix, with product revenues accounting for 49% of sales versus 42% a year earlier. Product gross margin was 54.6%, pressured sequentially by higher component costs but partly offset by better pricing.
Hybrid Cloud gross margin was 68.8%, while Public Cloud gross margin reached 86.4%. Support gross margin totaled 93.2%, and Professional Services gross margin was 36.6%. Year-over-year margin expansion across product, support, Professional Services and Public Cloud partly offset the product-mix headwind.
Non-GAAP operating expenses rose 10.9% year over year to $784 million, driven primarily by variable compensation and the additional week, which added approximately $22 million. Even so, non-GAAP operating income increased 60.8% to $645 million.
The non-GAAP operating margin expanded to 31.9% from 25.7%. Non-GAAP net income increased 64% to $515 million. On a GAAP basis, net income rose 60.9% to $375 million, while earnings increased 63.5% to $1.88 per share.
Cash Flow Details
Cash from operations fell 25.3% year over year to $503 million, while free cash flow declined 35.3% to $401 million. Free cash flow margin was 19.8% compared with 39.8% a year ago. Capital expenditures increased to $102 million from $53 million.
NTAP ended the quarter with $3.58 billion in cash, cash equivalents and investments and $2.49 billion in gross debt, leaving net cash of $1.09 billion. Inventory increased to $375 million from $198 million at fiscal year-end as the company managed supply levels to support growing demand. NetApp returned $302 million through $200 million of repurchases and $102 million of dividends.
Fiscal 2027 Outlook
For the second quarter of fiscal 2027, NetApp expects revenues of $2.025-$2.175 billion. Non-GAAP gross margin is projected at 67-68%, operating margin at 30.9-31.9% and earnings at $2.54-$2.64 per share. Management expects the sequential gross-margin decline mainly from a higher product revenue mix.
For fiscal 2027, revenues are now forecast at $7.975-$8.225 billion, with the $8.10 billion midpoint representing 17% growth and a $650 million increase from prior guidance. Non-GAAP gross margin is expected at 68.1-69.1%, operating margin at 30.3-31.3% and earnings at $9.73-$10.03 per share. The $9.88 earnings midpoint represents 22% year-over-year growth.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates revision.
The consensus estimate has shifted 21.27% due to these changes.
VGM ScoresCurrently, NetApp has a subpar Growth Score of D, a grade with the same score on the momentum front. Charting a somewhat similar path, the stock was allocated a score of F on the value side, putting it in the bottom 20% quintile for value investors.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise NetApp has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
NetApp commends partners for success in helping deliver NetApp solutions and services that address customer needs and industry trends
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced at NetApp INSIGHT 2026 the winners of its North America Partner Awards for Fiscal Year 2026 (FY’26). NetApp’s strategic partnerships aid in providing NetApp products and solutions to solve the business challenges of their joint customers.
The North America Partner Award winners have been instrumental in helping customers to build an Intelligent Data Infrastructure through the NetApp Platform, that can securely evolve and scale with their needs by driving sales of NetApp’s solutions and services. Each winning partner has demonstrated a thorough understanding of the NetApp portfolio and has proven their ability to leverage NetApp’s innovative solutions and services to give customers the confidence they need to overcome today’s biggest technology challenges.
“Now more than ever, we must empower customers with AI-ready data that is secure by default and built for hybrid environments so they can achieve their business outcomes,” said Alvaro Celis, Senior Vice President, Chief Commercial, Partner and Ecosystem Officer at NetApp. “This year’s FY26 NetApp North America Partner Award winners exemplify innovation and transformation in the AI era. They helped customers solve data-readiness challenges by using the NetApp Platform to access, manage, and activate data across hybrid multicloud environments—enabling them to tackle demanding tasks and solve complex problems. On behalf of NetApp, congratulations to all this year’s winners on their well-earned success.”
North America Partner Award Winners for NetApp FY’26
North America Partner of the Year: Recognizing overall NetApp FY’26 revenue, services capabilities, net-new account wins, and top rankings across product categories. Winner: World Wide Technology Distributor of the Year: Recognizing the distributor that drives significant year-over-year (YoY) growth in their NetApp partner ecosystem while exhibiting demonstrated value in operations, sales and technical enablement, marketing, and financial services. Winner: Arrow Enterprise Computing Solutions Inc. Growth Partner of the Year: Recognizing the ability to generate significant YoY growth in NetApp revenue across the portfolio. Winner: General Datatech (GDT) Flash Partner of the Year: Recognizing overall FY’26 flash revenue, significant YoY growth, and strategic account wins. Winner: ePlus Inc. New Account Acquisition Partner of the Year: Recognizing the highest number of net-new accounts to NetApp with focused sales efforts on helping customers achieve digital transformation with NetApp solutions. Winner: SHI International NetApp Keystone® Partner of the Year: Recognizing a strategic sales and marketing approach to driving significant growth of NetApp Keystone. Winner: Insight Enterprises AI Partner of the Year: Recognized for exceptional AI business performance, customer impact, and leadership in scaling AI solutions globally. Winner: World Wide Technology AI Go-to-Market Partner of the Year: Recognizing acceleration of AI adoption through innovative customer engagement, seller activation, and a differentiated AI go-to-market strategy. Winner: CDW Cloud Partner of the Year: Recognizing overall FY’26 cloud data services revenue and deploying a focused cloud digital transformation strategy that aligns with the NetApp cloud vision. Winner: AHEAD Canada Partner of the Year: Recognizing overall NetApp FY’26 revenue and alignment to the NetApp strategy in the Canadian market. Winner: Calian (DGI) SLED Partner of the Year: Recognizing robust sales efforts resulting in the highest overall SLED business while also driving net-new account acquisition and revenue wins. Winner: CDW-G USPS Partner of the Year: Recognizing overall NetApp FY’26 revenue and YoY growth in the U.S. Public Sector market. Winner: CTG Federal, LLC DoD Partner of the Year: Recognizing strong performance in the DoD space, propelled by dynamic customer relationships and a commitment to growth. Winner: FCN Inc. Intelligence Partner of the Year: Recognizing profound sales and technical expertise in the Intelligence space contributing to significant overall YoY percentage growth in the U.S. Public Sector. Winner: FlyWheel Data, LLC Civilian Partner of the Year: Recognizing a strategic approach to sales and marketing, paired with demand generation efforts resulting in significant net new account acquisition, and Civilian business growth. Winner: ThunderCat Technology, LLC Regional Partner Award Winners for FY’26
These awards recognize overall FY’26 revenue, YoY growth, strategic account wins, a significant focus on NetApp solutions, and participation in regional partnership activities.
Central Region Partner of the Year: Recognizing overall NetApp FY’26 revenue, services capabilities, net-new account wins, and top rankings across product categories in the Central region. Winner: Xigent Solutions Central Region SLED Partner of the Year: Recognizing robust sales efforts in the Central region resulting in the highest overall SLED business while also driving net-new account acquisition and revenue wins. Winner: Insight Enterprises East Region Partner of the Year: Recognizing overall NetApp FY’26 revenue, services capabilities, net-new account wins, and top rankings across product categories in the East region. Winner: Pellera Technologies East Region SLED Partner of the Year: Recognizing robust sales efforts in the East region resulting in the highest overall SLED business while also driving net-new account acquisition and revenue wins. Winner: WebHouse, Inc. West Region Partner of the Year: Recognizing overall NetApp FY’26 revenue, services capabilities, net-new account wins, and top rankings across product categories in the West region. Winner: Trace3 West Region SLED Partner of the Year: Recognizing robust sales efforts in the West region resulting in the highest overall SLED business while also driving net-new account acquisition and revenue wins. Winner: Trace3 "Our work with NetApp enables us to help customers build a foundation, not a patchwork, even in a changing market that demands enterprises move at an ever accelerating pace," said Bob Olwig, EVP Global Alliances at World Wide Technology. "Innovation comes down to who can most quickly leverage their data to get the insights they need to move with confidence. NetApp gives us the tools to provide secure, scalable, governed access to data wherever it lives, so our customers can lead in their markets."
NetApp provides its partners with the resources, training, support, and access to the expertise they need to solve their customers’ most complex data management challenges and expand their market share with a broader range of cloud-based solutions.
For more information on how to become a NetApp partner, visit: www.netapp.com/partners/#become
About NetApp
For more than three decades, NetApp has helped the world’s leading organizations navigate change – from the rise of enterprise storage to the intelligent era defined by data and AI. Today, NetApp is the Intelligent Data Infrastructure company, helping customers turn data into a catalyst for innovation, resilience, and growth.
At the heart of that infrastructure is the NetApp data platform – the unified, enterprise-grade, intelligent foundation that connects, protects, and activates data across every cloud, workload, and environment. Built on the proven power of NetApp ONTAP, our leading data management software and OS, and enhanced by automation through the AI Data Engine and AFX, it delivers observability, resilience, and intelligence at scale.
Disaggregated by design, the NetApp data platform separates storage, services, and control so enterprises can modernize faster, scale efficiently, and innovate without lock-in. As the only enterprise storage platform natively embedded in the world’s largest clouds, it gives organizations the freedom to run any workload anywhere with consistent performance, governance, and protection.
With NetApp, data is always ready – ready to defend against threats, ready to power AI, and ready to drive the next breakthrough. That’s why the world’s most forward-thinking enterprises trust NetApp to turn intelligence into advantage.
Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.
NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.
In the latest trading session, NetApp (NTAP - Free Report) closed at $215.05, marking a +2.37% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.2%. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq increased by 0.04%.
Shares of the data storage company have appreciated by 16.21% over the course of the past month, outperforming the Computer and Technology sector's gain of 4.78%, and the S&P 500's loss of 0.35%.
The investment community will be paying close attention to the earnings performance of NetApp in its upcoming release. In that report, analysts expect NetApp to post earnings of $2.6 per share. This would mark year-over-year growth of 26.83%. In the meantime, our current consensus estimate forecasts the revenue to be $2.11 billion, indicating a 23.83% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $10.05 per share and revenue of $8.23 billion. These totals would mark changes of +23.62% and +18.91%, respectively, from last year.
Any recent changes to analyst estimates for NetApp should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 13.28% higher. As of now, NetApp holds a Zacks Rank of #1 (Strong Buy).
Looking at valuation, NetApp is presently trading at a Forward P/E ratio of 20.91. This valuation marks a premium compared to its industry average Forward P/E of 10.65.
Also, we should mention that NTAP has a PEG ratio of 1.87. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. NTAP's industry had an average PEG ratio of 1.41 as of yesterday's close.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 18, which puts it in the top 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
5 Tech Stocks Holding Their Ground Through the AI Trade PullbackNetApp NASDAQ: NTAP used its INSIGHT 2026 event to outline a strategy for helping enterprises prepare data infrastructure for agentic AI, announcing expanded cloud partnerships, enhancements to its AI Data Engine and management platform, and a new high-scale storage architecture called NetApp Novus.
George Kurian said organizations seeking to move AI projects from pilot programs into production face two core issues: infrastructure constraints and difficulty harnessing fragmented enterprise data. He said AI systems require increasingly large GPU clusters and datasets, while unstructured information remains dispersed across storage systems, clouds, remote offices and sovereignty jurisdictions.
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Is Backblaze the Next Momentum Monster?“Data is becoming the constraint to productively scale AI,” Kurian said. He cited NetApp’s view that 93% of organizations report at least one data challenge blocking their AI ambitions.
AI Data Engine expands beyond NetApp data Syam Nair, NetApp’s Chief Product Officer, said the company’s platform is intended to provide AI-ready data, proactive protection, unified storage and complete control across hybrid environments. He said the goal is to activate data where it resides rather than require customers to copy or migrate it.
Semtech Stock Climbs as AI Boom Drives Turnaround SuccessNair announced that the metadata capability of the NetApp AI Data Engine will support heterogeneous data sources, extending beyond NetApp-managed data. The software-defined capability is designed to discover, understand and activate data across an enterprise estate without moving it into another system, according to Nair.
NetApp said it will make the AI Data Engine and its new metadata capability available free for the first six months. Nair said the platform is intended to surface data patterns and context while applying governance and protection policies.
The company also highlighted its acquisition of DataPelago. Nair said DataPelago is designed to accelerate existing tools used by researchers and data teams, including Spark, Trino and Python libraries, within the data infrastructure and without code changes.
Security, recovery and hybrid management Nair said NetApp is pursuing what it calls “zero trust data security,” with protection built into data rather than centered solely on network posture or identity checks. He said AI readiness and data protection must operate together because autonomous agents could act on compromised information at machine speed.
NetApp also described expanded integration with Commvault. According to Nair, potential ransomware attacks will be surfaced within the Commvault interface, while NetApp’s SnapRestore and curated clean recovery capabilities will support recovery workflows.
For hybrid infrastructure management, the company introduced the NetApp Console, which Nair described as a control plane for on-premises systems, Keystone and major public clouds. The console includes AI-assisted operations intended to predict issues, resolve incidents and optimize capacity and costs with human oversight.
NetApp said the console can also operate in local, air-gapped environments. Nair said existing Active IQ Unified Manager customers will have an upgrade path rather than need to replace their management tooling.
The company additionally unveiled Keystone Sovereign, an add-on entitlement for Keystone subscriptions aimed at European Economic Area customers with regional compliance and data-residency requirements. Nair said the offering will be available in early November for France and Germany, followed by broader availability later.
Cloud partnerships expand Mahesh Thiagarajan, executive vice president of Oracle Cloud Infrastructure at Oracle, said Oracle and NetApp are partnering to bring ONTAP to OCI. He said OCI File Storage and NetApp ONTAP will soon enable customers to run business-critical file-storage workloads in OCI using ONTAP tools, APIs and automation.
Thomas Kurian, CEO of Google Cloud, said Google Cloud NetApp Volumes supports enterprise workloads, agentic workloads and retrieval-augmented generation inferencing. He also said NetApp storage solutions are now embedded natively in Google Distributed Cloud, supporting air-gapped sovereign environments for Google AI models.
Scott Guthrie, executive vice president of Microsoft Cloud, said Microsoft and NetApp continue to help customers bring ONTAP workloads to Azure and run demanding workloads through Azure NetApp Files.
NetApp introduces Novus for AI factories The event’s largest announcement was NetApp Novus, a new disaggregated architecture intended for accelerated computing environments, large AI factories and GPU clusters exceeding 100,000 GPUs.
Kurian said Novus is designed to independently scale storage components and assimilate data across tens of thousands of systems into a single namespace. NetApp said the architecture is designed to deliver up to 100 TB per second of performance and a zettabyte-scale file system, claims the company characterized as first-of-their-kind capabilities.
Arindam Banerjee, NetApp’s Chief Platform and Technology Officer, said Novus uses federation to combine multiple storage clusters into one namespace, with throughput increasing as clusters are added. The architecture uses standard pNFS and Flex Files protocols, he said, allowing use of the stock Linux kernel rather than requiring a proprietary client or kernel module.
Banerjee said Novus separates metadata services into independently scalable protocol, state and catalog planes, addressing metadata bottlenecks that can arise when AI workloads combine high-volume data reads and writes with extensive metadata operations. Novus data servers will run ONTAP, he added, extending NetApp’s existing data integrity, resilience, security, isolation and quality-of-service capabilities to the new architecture.
Kurian said the announcements reflect NetApp’s effort to help customers build intelligent data infrastructure that can transform enterprise data into usable knowledge for AI systems and agents.
About NetApp (NASDAQ:NTAP)NetApp, Inc develops intelligent data infrastructure and data management solutions for enterprises, service providers, and government organizations. The company helps customers store, manage, protect, and access data across on-premises environments, private clouds, public clouds, and hybrid multicloud infrastructures.
Its portfolio includes enterprise storage systems, all-flash arrays, cloud-connected storage, object storage, and data management software. NetApp's offerings include the ONTAP data management operating system, AFF and ASA storage systems, StorageGRID object storage, and BlueXP, a platform designed to help customers manage data and storage resources across multiple environments.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Key Takeaways NetApp is bringing ONTAP data management natively to Oracle Cloud Infrastructure.NetApp and SAP plan deeper integration to support secure, resilient storage across regions.Supermicro and NetApp are developing AI infrastructure solutions to reduce data bottlenecks. NetApp, Inc. (NTAP - Free Report) is expanding its cloud and AI infrastructure ecosystem through new collaborations with Oracle, SAP and Supermicro, announced during its INSIGHT 2026 event in Las Vegas. The event, being held Sept. 29 through Oct. 1, focuses on data infrastructure, cloud integration and AI-driven workloads.
NetApp and Oracle announced a new fully managed storage service that will bring NetApp ONTAP data management capabilities natively to Oracle Cloud Infrastructure (OCI). The OCI NetApp Storage Service is designed to help enterprises migrate, operate, protect and modernize databases, enterprise applications, virtualized environments, EDA/HPC, regulated applications and AI data pipelines. Customers will be able to manage the service through the OCI Console and SDKs, ONTAP APIs and familiar workflows, helping reduce changes when moving existing ONTAP-based workloads to the cloud.
NetApp also plans to deepen its long-standing partnership with SAP by exploring integration of its capabilities into SAP Cloud Infrastructure. The collaboration is intended to support secure, resilient and high-performance storage for SAP and customer workloads across multiple regions and availability zones. The companies also plan joint go-to-market initiatives to help customers migrate, modernize and operate SAP and non-SAP workloads, while evaluating NetApp Object storage within SAP Cloud Infrastructure.
Separately, NetApp and Supermicro are collaborating on jointly validated AI infrastructure solutions spanning enterprise deployments, neoclouds, sovereign AI and large-scale AI factories. The partnership combines Supermicro’s AI-optimized compute and rack-scale systems with the NetApp Platform’s data management, cyber resilience and hybrid-cloud capabilities. The solutions are designed to reduce data bottlenecks, improve GPU utilization and simplify AI infrastructure deployment. The companies also plan to support private AI platforms through NetApp AIPod with Supermicro.
Together, these partnerships expand NetApp’s presence across cloud, enterprise and AI infrastructure while supporting customers with integrated data management and storage capabilities for demanding workloads.
Taking a Look at NTAP’s CompetitorsSeagate Technology Holdings plc (STX - Free Report) is strengthening its storage ecosystem through partnerships that support AI-driven data growth and mass-capacity storage demand. Its alliance with Acronis combines Acronis Archival Storage with Seagate’s Lyve Cloud, providing MSPs and enterprises with secure, scalable and cost-efficient S3 storage for long-term data retention, particularly in regulated industries. Seagate also retains exposure to cloud-storage growth through Wasabi Technologies after divesting Lyve Cloud to Wasabi in April 2026 and becoming a shareholder. These relationships allow STX to sharpen its focus on core mass-capacity storage while benefiting from expanding AI data creation, cloud adoption and archival-storage requirements.
Teradata Corporation (TDC - Free Report) is gaining from rising recurring revenues, improving operating leverage, expanding agentic AI capabilities and growing demand for hybrid, sovereign and regulated AI deployments. Partnerships are extending the company’s market reach and deployment flexibility. Teradata works with AWS, Microsoft Azure and Google Cloud across major cloud environments, while its Data Analyst Agent is available through AWS Marketplace and Microsoft Marketplace. Its collaboration with Dell Technologies supports Teradata Factory, combining Dell compute and storage infrastructure with Teradata’s software for private, GPU-enabled AI workloads. TDC also integrated its Autonomous Knowledge Platform with Microsoft OneLake and joined the Agentic AI Foundation.
NTAP Price Performance, Valuation & EstimatesShares of NetApp have gained 34.1% in the past three months against the Computer-Storage Devices industry’s decline of 13.6%.
Image Source: Zacks Investment Research
Regarding the price/book ratio, NTAP is trading at 27.48, higher than the industry’s multiple of 15.36.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NTAP’s earnings for fiscal 2027 has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
NTAP currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Key Takeaways NetApp is positioning Keystone Sovereign for qualified customers in Germany and France.Keystone revenue grew about 65% in fiscal 2026 as customers sought flexible storage consumption.NetApp unveiled Novus and expanded Oracle Cloud support at INSIGHT 2026. For organizations operating in regulated industries, sovereignty increasingly encompasses who can access data, where support teams are located, how telemetry moves and which legal and operational controls govern the infrastructure. NetApp, Inc. (NTAP - Free Report) is positioning Keystone Sovereign to address this broader requirement, initially targeting qualified customers in Germany and France, with additional European countries planned. Per NetApp, the offering will provide additional regional, operational, support and data-handling controls intended to help qualified European customers keep critical data and support within specified geographic boundaries.
Keystone is NetApp's storage-as-a-service offering, allowing organizations to consume storage infrastructure through a flexible, cloud-like model instead of depending on traditional hardware purchasing and deployment. Keystone continues to gain traction as customers seek flexible consumption, with revenue growing about 65% in fiscal 2026. In first-quarter fiscal 2027, Professional Services revenues rose 15.5% to $112 million, mainly driven by continued Keystone growth. Management said Keystone grew in roughly the same range as in prior quarters and the overall flash business, while benefiting minimally from the extra week. It is targeting more new customers and adding capabilities to support continued adoption.
NetApp’s INSIGHT 2026 conference, held yesterday, highlighted the company’s strategy around AI-ready data infrastructure, unified storage, hybrid cloud and cyber resilience. The event focused on helping enterprises manage and activate data for AI workloads, with NetApp emphasizing its intelligent data infrastructure platform and partnerships across the AI ecosystem. Besides the Keystone offering, other key announcements included NetApp Novus, a high-performance file system designed to feed data to GPUs, and native ONTAP storage support for Oracle Cloud Infrastructure, expanding its hyperscaler footprint.
The event also highlighted its expanding partnership ecosystem, with collaborations spanning SAP, Oracle (ORCL - Free Report) and Super Micro Computer (SMCI - Free Report) .
NTAP’s Competitive LandscapeSMCI rides on expanding AI infrastructure demand, supported by rapid adoption of new GPU platforms, its modular Building Block architecture, liquid-cooling expertise and a broader DCBBS offering. Supermicro’s Open Storage Summit 2026, held in August, focused on the data infrastructure needed to deploy enterprise AI at scale. The event brought together Supermicro and ecosystem partners, including AMD, DDN, IBM, Intel, KIOXIA, MinIO, Nutanix, VAST Data and Western Digital, to discuss AI inference, agentic AI, hybrid-cloud storage, context memory and unstructured data management. The summit also highlighted Supermicro’s DCBBS architecture, which provides modular, validated AI infrastructure from servers and networking to rack- and data-center-level solutions.
Hewlett Packard Enterprise (HPE - Free Report) is benefiting from a broader shift toward AI infrastructure, networking modernization and hybrid cloud, with Juniper expanding its addressable market and integration synergies supporting earnings growth. In September, HPE expanded its collaboration with Oracle to deploy HPE Juniper Networking across Oracle’s global AI data centers, supporting the company’s gigawatt-scale AI infrastructure expansion with networking services and financing capabilities. In June, it announced multiple AI infrastructure innovations, including a sovereign private AI cloud deployment for Siemens Energy, expanded self-driving networking capabilities and new AI Factory and Private Cloud AI solutions to help enterprises securely deploy and manage agentic AI workloads.
NTAP Price Performance, Valuation & EstimatesNetApp shares have gained 76.5% in the past year compared with the Computer-Storage Devices industry’s rise of 318.4%.
Image Source: Zacks Investment Research
Regarding the price/book ratio, NTAP is trading at 27.48, higher than the industry’s multiple of 15.36.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NTAP’s earnings for fiscal 2027 has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
NTAP currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NetApp and Oracle to Launch Fully Managed Cloud Storage Service for Demanding AI and Enterprise Workloads NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, and Oracle today announced a new fully managed storage service that brings enterprise-grade NetApp storage natively to Oracle Cloud Infrastructure (OCI). The service will bring NetApp ONTAP® data management capabilities natively to OCI to help organizations simplify the migration and management of critical AI and enterprise workloads in the cloud.
Oracle Cloud Infrastructure NetApp Storage Service is designed to be a fully managed OCI-native storage service that brings NetApp ONTAP data management capabilities to OCI. It helps enterprises migrate, run, protect, and modernize databases, enterprise applications, virtualized environments, EDA/HPC, regulated applications, and AI data pipelines while preserving familiar storage operations.
“Customers want the flexibility to move AI and enterprise workloads to the cloud without giving up operational simplicity, data management, and reliability,” said Pravjit Tiwana, Senior Vice President and General Manager, Cloud Storage and Services at NetApp. “OCI NetApp Storage Service gives customers a native OCI experience while allowing them to use the ONTAP familiar capabilities for data protection, migration, governance, and multiprotocol access.”
Customers can manage OCI NetApp Storage Service through the OCI Console and SDKs, ONTAP APIs, and familiar operational workflows. Delivered natively on OCI, the service helps customers move existing ONTAP-based workloads to the cloud while minimizing application redesign and storage management changes. For enterprises running mission-critical workloads in large-scale and regulated industries, OCI NetApp Storage Service helps extend familiar storage capabilities to OCI with consistent data management, high availability, security, and predictable performance across on-premises and cloud environments.
“Enterprises shouldn't have to rebuild their data infrastructure to move to the cloud,” said Konstantinos (kp) Papamiltiadis, Senior Vice President of Partnerships at Oracle Cloud Infrastructure. “OCI NetApp Storage Service gives customers a trusted, familiar path to OCI, so they can focus on what the data does, not how it's managed.”
“By bringing a native ONTAP-based storage service to OCI, we are combining OCI’s scale and performance with NetApp’s enterprise data capabilities to empower customers to run mission-critical workloads,” said Alvaro Celis, Senior Vice President, Chief Commercial, Partner and Ecosystem Officer at NetApp. “This partnership enhances our ability to deliver meaningful customer value, especially in regulated industries, by making it easier for organizations to move, modernize, and protect their most critical applications on OCI.”
OCI NetApp Storage Service is planned for general availability within the next 12 months.
Statements by NetApp about unreleased offerings and future plans are for informational purposes only, are subject to change without notice, and should not be relied upon for purchasing or other decisions. Such statements do not constitute a commitment, obligation, guarantee, or warranty of any kind by NetApp, including about availability, functionality, pricing, or timing.
Additional Resources
Read more about OCI NetApp Storage ServiceLearn more about OCI NetApp Storage ServiceLearn more about OCI Storage and Oracle CloudAbout NetApp
For more than three decades, NetApp has helped the world’s leading organizations navigate change – from the rise of enterprise storage to the intelligent era defined by data and AI. Today, NetApp is the Intelligent Data Infrastructure company, helping customers turn data into a catalyst for innovation, resilience, and growth.
At the heart of that infrastructure is the NetApp data platform – the unified, enterprise-grade, intelligent foundation that connects, protects, and activates data across every cloud, workload, and environment. Built on the proven power of NetApp ONTAP, our leading data management software and OS, and enhanced by automation through the AI Data Engine and AFX, it delivers observability, resilience, and intelligence at scale.
Disaggregated by design, the NetApp data platform separates storage, services, and control so enterprises can modernize faster, scale efficiently, and innovate without lock-in. As the only enterprise storage platform natively embedded in the world’s largest clouds, it gives organizations the freedom to run any workload anywhere with consistent performance, governance, and protection.
With NetApp, data is always ready – ready to defend against threats, ready to power AI, and ready to drive the next breakthrough. That’s why the world’s most forward-thinking enterprises trust NetApp to turn intelligence into advantage.
Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.
NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.
About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.
Trademarks
Oracle, Java, MySQL, and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.
Future Product Disclaimer
The above is intended to outline Oracle's general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, timing, and pricing of any features or functionality described for Oracle’s products may change and remains at the sole discretion of Oracle Corporation.
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SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced new capabilities that enable enterprises to accelerate their adoption of agentic AI with secure, in-place, zero-copy data activation. The heterogeneous metadata capability of NetApp AI Data Engine (AIDE) helps organizations discover, understand, govern, and operationalize data where it lives, while an expanded integration with Commvault connects the NetApp Platform with Commvault recovery orchestration workflow to help customers detect attacks earlier and recover cleaner data faster.
As AI agents move from experimentation into production, enterprise data infrastructure has become a critical business dependency. Agents can read, retrieve, and act on data at machine speed, but most enterprise data estates were built for human-paced workflows: fragmented across file, object, cloud, on-premises, and sovereign environments; governed through inconsistent controls; and activated through pipelines that copy, move, and transform data before it can be used. That traditional approach creates latency, cost, compliance risk, and answers that may already be stale by the time they reach a model or agent.
“The agentic enterprise will be defined by how quickly and safely organizations can turn their data into intelligence,” said Asad Khan, Senior Vice President and General Manager, AI at NetApp. “For too long, AI initiatives have depended on complex pipelines that move data away from where it is created, governed, and protected. NetApp is taking a different approach: activating data in place with the governance, resiliency, and openness enterprises require. With AI Data Engine and our expanded work with Commvault, we are helping customers give agents trusted business context while strengthening the recovery foundation AI-driven operations depend on.”
These latest NetApp Platform updates help customers move beyond copy-first AI architectures and toward a governed, protected, zero-copy operating model for enterprise data. Key updates include:
NetApp AI Data Engine is a core intelligence service within the NetApp Platform’s AI Data Services layer, helping organizations transform fragmented, unstructured enterprise data into trusted, AI-ready assets for analytics, assistants, and AI agents. With the new update, NetApp is expanding the availability of metadata discovery across the full enterprise data estate, including NetApp ONTAP®, StorageGRID®, and non-NetApp storage. These capabilities help customers discover and understand data in place across NFS, SMB, and S3 repositories, immediately enabling them to uncover data, reduce security risk, optimize storage, accelerate data migrations, and identify AI-ready data. NetApp is also previewing upcoming AIDE innovations, including expanded AI-powered data understanding capabilities, deeper governance intelligence, open analytics integrations with analytics engines such as Starburst and Onehouse.AI, and new agentic services designed to help enterprises securely turn data into actionable AI context at scale. Expanded NetApp and Commvault Joint Solution enables customers to protect and restore the data they use for AI workloads. Powered by the NetApp Platform, the solution delivers near-real-time threat detection, deeper scans that uncover evasive threats, cleanroom validation with advanced AI threat detection technology in an isolated environment, and advanced clean recovery, all from the Commvault console. It connects the NetApp Platform's autonomous ransomware protection signals on primary storage directly to Commvault recovery workflows to enable joint customers to recover in minutes rather than days or weeks without introducing reinfection. Together, these updates advance the NetApp Platform as the data foundation for the agentic enterprise. Rather than treating AI readiness as a separate data-copy project or a closed, single-vendor stack, NetApp enables enterprises to activate existing data in place while preserving the access controls, data protection, and operational choice already in place. This approach helps customers deliver near-term storage and governance outcomes while building toward richer AI-ready data capabilities, including semantic search, knowledge graphs, decision context, and agentic activation.
“As AI-driven threats compress response times, organizations need a faster path to trusted recovery,” said Pranay Ahlawat, Chief Technology and AI Officer at Commvault. “By integrating NetApp’s ransomware detection and immutable data protection with Commvault’s clean recovery capabilities, we help customers accelerate response, restore trusted data with confidence, and reduce mean time to clean recover (MTCR).”
“Agentic AI raises the bar for enterprise data infrastructure, because agents need access to current, trusted, and governed data rather than another copy of yesterday's dataset,” said Shari Lava, GVP of AI Research at IDC. “NetApp's approach is a useful example of this shift: connecting data discovery, understanding, governance, activation, and cyber resilience at the storage layer, where much of the enterprise data estate already resides. Vendors that can do this well give customers a more pragmatic path to prepare data for AI, without the risk, cost, and complexity that often come with large-scale data movement.”
Statements by NetApp about unreleased offerings and future plans are for informational purposes only, are subject to change without notice, and should not be relied upon for purchasing or other decisions. Such statements do not constitute a commitment, obligation, guarantee, or warranty of any kind by NetApp, including about availability, functionality, pricing, or timing.
Additional Resources
Trusted Agents Start with Trusted Data AI Data Engine: Make Distributed Enterprise Data Agent-Ready in Place Commvault: Together, NetApp and Commvault Provide Customers with a Coordinated Path to Bounce Back From Ransomware Attacks by Delivering Fast, Clean, and Trusted Recovery About NetApp
For more than three decades, NetApp has helped the world’s leading organizations navigate change – from the rise of enterprise storage to the intelligent era defined by data and AI. Today, NetApp is the Intelligent Data Infrastructure company, helping customers turn data into a catalyst for innovation, resilience, and growth.
At the heart of that infrastructure is the NetApp data platform – the unified, enterprise-grade, intelligent foundation that connects, protects, and activates data across every cloud, workload, and environment. Built on the proven power of NetApp ONTAP, our leading data management software and OS, and enhanced by automation through the AI Data Engine and AFX, it delivers observability, resilience, and intelligence at scale.
Disaggregated by design, the NetApp data platform separates storage, services, and control so enterprises can modernize faster, scale efficiently, and innovate without lock-in. As the only enterprise storage platform natively embedded in the world’s largest clouds, it gives organizations the freedom to run any workload anywhere with consistent performance, governance, and protection.
With NetApp, data is always ready – ready to defend against threats, ready to power AI, and ready to drive the next breakthrough. That’s why the world’s most forward-thinking enterprises trust NetApp to turn intelligence into advantage.
Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.
NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp, the intelligent Data Infrastructure company, today announced its intent to expand its long-standing partnership with SAP, with plans to explore deeper cloud-native integration of NetApp capabilities into SAP Cloud Infrastructure, SAP's Infrastructure-as-a-Service platform. The NetApp Platform supports key elements of the SAP Cloud Infrastructure storage architecture, delivering reliable, highly available and high-performance file and block storage serv.
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced NetApp Novus™, the fastest storage on the planet designed for AI infrastructure providers operating large GPU environments. Built to support a zettabyte-scale file system, this next-generation architecture will allow AI factories to keep millions of GPUs continuously fed with data, maximizing the efficiency, utilization, and profitability of their investments. Neoclouds and GP.
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced NetApp Keystone Sovereign, which will enable qualified European customers to use data sovereignty controls in support of their compliance and data residency journeys. Enterprises will more easily be able to keep data and support within specified geographic boundaries. As organizations modernize IT and adopt cloud-like operating models, customers in regulated industries face in.
New hybrid multi-cloud capabilities remove borders between on-premises and cloud operations
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced new hybrid multi-cloud capabilities with autonomous controls to maximize enterprise flexibility and efficiency for any workload. Enterprises can now more easily adopt modern data strategies across on-premises and cloud environments leveraging new capabilities for consistent operations that account for sovereignty, governance, and controlled consumption.
As enterprise applications and AI workloads increasingly span on-premises environments, public clouds, sovereign regions, and emerging AI Factory architectures, organizations need more than infrastructure flexibility. They need a consistent operating model that can keep pace with machine-speed demand while meeting requirements for governance, resilience, efficiency, and jurisdictional control. Traditional manual administration, fragmented tooling, and disconnected data strategies can slow innovation, increase operational risk, and make it harder to control costs at scale.
“Your storage architecture dictates how every workload runs,” said Sandeep Singh, Senior Vice President and General Manager, Platform at NetApp. “Customers should not have to choose between the performance and control of on-premises infrastructure and the flexibility of cloud. With these new hybrid multi-cloud capabilities, NetApp is helping enterprises break down the borders between environments, operate with greater autonomy, and put efficiency, sovereignty, and control at the center of their data strategy.”
The new capabilities announced today extend the NetApp Platform with autonomous control, stronger economics, sovereignty-aware storage-as-a-service, and broader management across hybrid multi-cloud environments. Together, they help customers operate more consistently across data centers and public clouds, reduce cost exposure as data grows, and preserve control over where data, support, telemetry, and operations reside.
The new hybrid multi-cloud capabilities include:
NetApp Keystone Sovereign provides clearer regional governance and increases trust to address sovereignty expectations and customer concerns around data residency and operational access. Qualified European Economic Area customers can now use data sovereignty controls in support of their regional compliance and data residency journeys which go beyond data location to include data residency, technical, and regional considerations. NetApp Console Autonomous Operations eliminate the reactive toil of managing fragmented tools across massive hybrid fleets by replacing manual approval loops with outcome-based automation that delivers business value and runs securely in air-gapped environments. The new capabilities deliver AI-assisted autonomous operations with human oversight and provide a control plane for the NetApp Platform, helping teams predict issues, resolve incidents faster, and optimize capacity and costs through intelligent, API-first design, and agentic AI-driven orchestration. NetApp Console Fleet Management enables customers to manage their entire estate as a single entity with the confidence that they can keep environment healthy and at peak performance. The new solution delivers fleet management, observability, and AI through a second Console delivery model installed directly in the customer’s environment. NetApp Console now delivers one solution with two delivery models to meet customers’ needs, wherever their data lives. NetApp Console AI ChatOps Interface replaces manual workflows with secure, conversational, outcome-based automation. It reduces the burden on enterprise IT administrators who manage fragmented tools across massive hybrid fleets, without sacrificing governance or control. The conversational ChatOps interface in NetApp Console delivers autonomous storage operations, intent-based provisioning, and policy guardrails across ONTAP storage systems. It also provides AI-powered reporting, predictive analytics, and automated remediation. Operating through an open LLM gateway, customers can realize secure AI operations, leveraging their own LLM while ensuring all actions remain within defined storage classes, policies, and governance boundaries. Nutanix and NetApp are helping enterprises navigate evolving industry landscapes and maximize architectural freedom. The partnership empowers organizations to optimize their virtualized environments, protecting existing foundational investments with new levels of operational flexibility. By combining NetApp ONTAP with Nutanix Cloud Infrastructure, customers will benefit from the scale, security, and agility required for virtualized workloads. This integrated capability is scheduled to be generally available this fall. With these updates, NetApp is advancing a platform strategy built around consistent operations, governed data control, and infrastructure economics that scale with modern workloads. By unifying management across environments, enabling autonomous operations inside customer-defined guardrails, and extending as-a-service consumption to sovereignty-sensitive markets, NetApp gives enterprises the flexibility to build where they need to build while keeping data ready, protected, and under control.
“Enterprise IT leaders are under pressure to support AI-era workloads across increasingly distributed environments without compromising governance, cost control, or operational resilience,” said Dave McCarthy, Group Vice President, Cloud and Datacenters, Enterprise Infrastructure at IDC. “NetApp’s hybrid multi-cloud strategy addresses that challenge by bringing together autonomous operations, consistent data services, efficiency guarantees, and sovereignty-aware consumption models on a single platform. This approach gives organizations the flexibility to run workloads where they make the most sense while maintaining the control and consistency required for mission-critical infrastructure.”
Statements by NetApp about unreleased offerings and future plans are for informational purposes only, are subject to change without notice, and should not be relied upon for purchasing or other decisions. Such statements do not constitute a commitment, obligation, guarantee, or warranty of any kind by NetApp, including about availability, functionality, pricing, or timing.
Additional Resources
New Secured Governed Intent-Based Autonomous Operations Are Yours Now Preserving Choice and Freedom for Virtualization NetApp Console: Autonomous Operations - Declare Outcomes. Automate Operations. Secure Every Action. NetApp Keystone: Storage as a Service (STaaS) About NetApp
For more than three decades, NetApp has helped the world’s leading organizations navigate change – from the rise of enterprise storage to the intelligent era defined by data and AI. Today, NetApp is the Intelligent Data Infrastructure company, helping customers turn data into a catalyst for innovation, resilience, and growth.
At the heart of that infrastructure is the NetApp data platform – the unified, enterprise-grade, intelligent foundation that connects, protects, and activates data across every cloud, workload, and environment. Built on the proven power of NetApp ONTAP, our leading data management software and OS, and enhanced by automation through the AI Data Engine and AFX, it delivers observability, resilience, and intelligence at scale.
Disaggregated by design, the NetApp data platform separates storage, services, and control so enterprises can modernize faster, scale efficiently, and innovate without lock-in. As the only enterprise storage platform natively embedded in the world’s largest clouds, it gives organizations the freedom to run any workload anywhere with consistent performance, governance, and protection.
With NetApp, data is always ready – ready to defend against threats, ready to power AI, and ready to drive the next breakthrough. That’s why the world’s most forward-thinking enterprises trust NetApp to turn intelligence into advantage.
Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.
NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.
Joint solution combines compute and data infrastructure to optimize GPUs at scale
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced a strategic collaboration with Supermicro to deliver jointly validated AI infrastructure solutions spanning large-scale AI factories, enterprise deployments, neoclouds, and sovereign AI initiatives. By combining Supermicro's AI-optimized compute and rack-scale systems with the NetApp Platform, the companies will help customers accelerate deployment, improve GPU utilization, strengthen data governance, and reduce operational complexity.
NetApp and Supermicro are creating a full-stack foundation for AI that extends beyond high-performance storage. The collaboration brings together Supermicro’s rack-scale compute, networking, power, and liquid-cooling expertise with the NetApp Platform’s unified data management, cyber resilience, hybrid-cloud leadership, and disaggregated scale. Customers gain an architecture that can be deployed quickly, evolve across generations of compute, and deliver a consistent data experience from enterprise environments to the world’s largest AI factories. Because the compute and data infrastructure are tested and validated as a unified system, customers can shorten design and integration cycles, reduce deployment risk, and move AI environments into production faster.
“Customers need AI infrastructure that drives innovation and transformation, delivers world-class economics, and works seamlessly at scale from day one,” said Alvaro Celis, Senior Vice President, Chief Commercial, Partner and Ecosystem Officer at NetApp. “By combining Supermicro’s AI leadership and ability to scale with the NetApp Platform, we can give customers—from commercial, enterprise to internet-with the most demanding requirements—secure, reliable AI solutions they can deploy quickly to accelerate innovation and build market leadership.”
The collaboration will make it faster and easier for customers to build Intelligent Data Infrastructure powered by the NetApp Platform in demanding AI factory environments. By pairing AI-optimized compute with AI-ready data services, NetApp and Supermicro will deliver jointly validated solutions organized around three core capabilities:
Integrated AI Solutions at Scale: Supermicro's AI-optimized servers, GPU platforms, and rack-scale systems combine with the NetApp Platform to deliver a validated solution for AI deployments ranging from individual enterprise AI projects to full AI factories, gigafactories, and sovereign AI initiatives. Enterprise-Grade Data Management, Security, and Sovereignty: The joint solutions are expected to deliver the governance, cyber resilience, and compliance that enterprises, governments, neoclouds, and GPU-as-a-service providers require, so customers can scale AI while keeping maintaining strong governance and control over their data. Maximized AI Investment ROI Through AI-Ready Data: The collaboration removes data bottlenecks to keep GPUs supplied with high-performance access to data for training, inference, and retrieval-augmented generation. Customers will spend less time waiting on data and instead spend more time training models. The collaboration also enables customers to scale compute and data independently as workload needs change, improving infrastructure efficiency and preserving flexibility across the AI lifecycle. Customers adopting the joint solution will be able to securely access and manage data across on-premises and cloud environments, bringing AI infrastructure to the data while maintaining consistent governance and protection.
“Supermicro and NetApp have collaborated to offer AI-optimized, rack-scale infrastructure with intelligent data infrastructure built for governance, cyber resilience, sovereignty, and hybrid cloud flexibility,” said Matthew Thauberger, Chief Revenue Officer, Supermicro. “Whether customers are deploying an enterprise AI cluster, building a neocloud, delivering GPU-as-a-service, or standing up a sovereign AI factory, this collaboration gives them a validated path where the infrastructure and the data are designed to work together from the start.”
To simplify the customer deployment and operations of NetApp Novus architecture, NetApp and Supermicro will deliver NetApp Novus Data Director software running on qualified Supermicro servers with NetApp AFF A90 systems as the high-performance ONTAP data layer. By separating the metadata and data planes, NetApp Novus enables each to scale independently within a single namespace, helping AI infrastructure providers expand performance and capacity as their environments grow without repeatedly redesigning the underlying architecture. This initial implementation is the first step in a broader collaboration to co-engineer integrated infrastructure solutions for enterprise AI, neocloud, sovereign AI, and large-scale AI factory environments.
NetApp and Supermicro are also collaborating to support enterprises building a private AI platform with NetApp AIPod with Supermicro, a NetApp-validated converged infrastructure architecture based on the NVIDIA Reference Architecture guidance. Validated as a complete system and delivered through NetApp’s ecosystem of channel partners, this solution gives enterprises proven guidance for AI training, inference, and agentic workloads from dozens to hundreds of GPUs.
Statements by NetApp about unreleased offerings and future plans are for informational purposes only, are subject to change without notice, and should not be relied upon for purchasing or other decisions. Such statements do not constitute a commitment, obligation, guarantee, or warranty of any kind by NetApp, including about availability, functionality, pricing, or timing.
Additional Resources
NetApp Novus. Keep Every GPU Fed, Productive and Ready to Scale A New Data Architecture for AI Factories at Scale NetApp Verified Architecture for Supermicro AI Factory About NetApp
For more than three decades, NetApp has helped the world’s leading organizations navigate change – from the rise of enterprise storage to the intelligent era defined by data and AI. Today, NetApp is the Intelligent Data Infrastructure company, helping customers turn data into a catalyst for innovation, resilience, and growth.
At the heart of that infrastructure is the NetApp data platform – the unified, enterprise-grade, intelligent foundation that connects, protects, and activates data across every cloud, workload, and environment. Built on the proven power of NetApp ONTAP, our leading data management software and OS, and enhanced by automation through the AI Data Engine and AFX, it delivers observability, resilience, and intelligence at scale.
Disaggregated by design, the NetApp data platform separates storage, services, and control so enterprises can modernize faster, scale efficiently, and innovate without lock-in. As the only enterprise storage platform natively embedded in the world’s largest clouds, it gives organizations the freedom to run any workload anywhere with consistent performance, governance, and protection.
With NetApp, data is always ready – ready to defend against threats, ready to power AI, and ready to drive the next breakthrough. That’s why the world’s most forward-thinking enterprises trust NetApp to turn intelligence into advantage.
Learn more at www.netapp.com or follow us on X, LinkedIn, Facebook, and Instagram.
NETAPP, the NETAPP logo, and the marks listed at www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners.
SAN JOSE, Calif. & AUSTIN, Texas--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, and Oracle today announced a new fully managed storage service that brings enterprise-grade NetApp storage natively to Oracle Cloud Infrastructure (OCI). The service will bring NetApp ONTAP® data management capabilities natively to OCI to help organizations simplify the migration and management of critical AI and enterprise workloads in the cloud. Oracle Cloud Infrastructure N.
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced it will present the NFL with its Customer Social Impact Award at INSIGHT 2026, recognizing the NFL's sustained commitment to expanding access to high-growth careers through its Inspire Change initiative. Building on that impact, NetApp is launching a philanthropic partnership with Per Scholas, one of the NFL's Inspire Change grant partners, and providing a grant to support Per.
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that it awarded the International Union for Conservation of Nature (IUCN) the 2026 Social Impact Award for Intelligent Data for Good at NetApp INSIGHT 2026, NetApp's flagship global event dedicated to technological innovation, taking place in Las Vegas from September 29 to October 1. Part of NetApp's Social Impact Awards program, this recognition honors customers and partners.
Key Takeaways NetApp plans to acquire PEAK:AIO to strengthen its AI-storage portfolio for large GPU clusters.PEAK:AIO's architecture separates metadata from data, enabling metadata services to scale independently.Combining PEAK:AIO with ONTAP can support AI environments with trillions of files and multi-exabyte datasets. NetApp, Inc.’s (NTAP - Free Report) planned acquisition of PEAK:AIO is likely to strengthen its AI-storage portfolio. The deal focuses on a key challenge for large AI clusters – enabling thousands of GPUs to access huge amounts of data and metadata quickly and efficiently. The proposed combination of PEAK:AIO’s metadata architecture and parallel file-system technology with NetApp’s ONTAP platform could give the company a pathway toward supporting AI environments containing trillions of files and multi-exabyte datasets.
Per NetApp, PEAK:AIO has developed technology designed specifically for highly demanding, data-intensive environments that disaggregates metadata from data, allowing metadata services to scale independently. Metadata can appear relatively insignificant compared with the actual data stored, but at AI scale it becomes a major architectural consideration. Large AI datasets can contain billions or even trillions of files, making operations such as locating, opening and managing those files increasingly demanding. PEAK:AIO’s technology is intended to extend metadata scalability while providing a global namespace and parallel NFS-based access.
The other half of the proposed combination is NetApp's ONTAP. ONTAP is already key to NetApp's enterprise storage portfolio, providing capabilities around data management, security, resiliency and operational administration. By integrating PEAK:AIO’s innovations with ONTAP, NetApp is effectively attempting to combine AI-scale performance architecture with established enterprise storage capabilities.
NTAP has recently been on an acquisition spree to expand AI and migration use cases. In August, NetApp acquired JetStream Software, which specializes in VMware disaster recovery and migration. The deal will help enterprises safeguard applications, speed up cloud migration and modernize infrastructure while ensuring cyber resilience. In July, NetApp acquired DataPelago to add GPU-accelerated data processing directly to the storage layer. The acquisition is likely to strengthen its competitive position in the rapidly growing AI infrastructure market.
Competition Will Be Intense for NTAPThe Juniper acquisition is broadening Hewlett Packard Enterprise’s (HPE - Free Report) reach across campus and branch, data center switching, routing and security, while integration remains ahead of schedule. It has used acquisitions to add networking, cloud management, security and data-management capabilities around its hybrid IT model. Morpheus Data, acquired in 2024, expanded GreenLake orchestration, while the 2023 buyouts of OpsRamp, Axis Security, Athonet and Pachyderm added observability, security, private cellular and data capabilities. Earlier acquisitions, including Zerto, Determined AI and CloudPhysics, broadened cloud and AI functionality. The strategy gives HPE more opportunities to combine infrastructure, software, services and consumption models in a single customer relationship.
Intl Business Machines’ (IBM - Free Report) acquisition strategy continues to deepen its hybrid cloud, automation and data platforms. The Confluent buyout, completed in the first half of 2026, adds scale to the data portfolio and was on track in its first full quarter after close. HashiCorp also delivered strong performance and record bookings, supporting IBM's ability to help clients manage complex multi-cloud environments. These assets complement Red Hat, where revenue growth accelerated to 11% in the second quarter. However, acquisition-led growth has increased balance sheet pressure, with debt at $62 billion and cash and marketable securities falling to $8.2 billion from $14.5 billion in 2025, mainly due to the Confluent acquisition.
NTAP Price Performance, Valuation & EstimatesShares of NetApp have gained 69.7% in the past year compared with the Computer-Storage Devices industry’s rise of 330.3%.
Image Source: Zacks Investment Research
Regarding the price/book ratio, NTAP is trading at 26.43, higher than the industry’s multiple of 15.62.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NTAP’s earnings for fiscal 2027 has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
NTAP currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Key Takeaways NetApp posted record Q1 revenue of $2.03 billion, up 30% year over year.NTAP secured roughly 350 AI and data lake modernization deals as projects moved into production.All-flash array revenue rose 47% to $1.31 billion, supporting higher fiscal 2027 guidance. NetApp, Inc. (NTAP - Free Report) entered fiscal 2027 with strong momentum, supported by growing demand across AI, flash storage and broader infrastructure modernization. The company started the year with record first-quarter revenues of $2.03 billion, up 30% year over year, as demand strengthened across customer types, geographies and workloads. On the last earnings call, management stated that the performance reflected not only accelerated purchases and pricing benefits but also a structural improvement in the underlying demand environment.
AI is becoming an increasingly important growth driver. NetApp secured roughly 350 AI and data lake modernization deals in the first quarter, with deal sizes increasing as customers moved from proof-of-concept projects to production deployments. Demand is extending beyond dedicated AI systems as enterprises modernize databases and unstructured data environments to prepare for AI inferencing and analytics. Management also noted that AI is influencing broader data-infrastructure spending, making it difficult to isolate its exact revenue contribution.
Flash demand is another major tailwind. All-flash array revenues reached $1.31 billion in the quarter, rising 47% year over year, as customers standardized on NetApp for mission-critical workloads, including GPU-intensive AI pipelines. Management expects all-flash to remain the predominant contributor to the acceleration in the business. At the same time, hybrid flash demand is strengthening as customers seek more cost-effective solutions for lower-priority workloads, adding breadth to NetApp’s storage momentum.
The strong start prompted NetApp to materially raise its fiscal 2027 expectations. Revenues are projected between $7.98 billion and $8.23 billion, with the $8.10 billion midpoint implying 17% year-over-year growth and standing $650 million above the prior guidance. The company also raised its operating margin forecast to 30.3-31.3% and EPS guidance to $9.73-$10.03, with the midpoint representing 22% growth. Overall, the raised outlook reflects management’s confidence that AI-driven modernization, robust all-flash demand and broader portfolio strength can sustain momentum through the year.
Taking a Look at NTAP's CompetitorsHewlett Packard Enterprise (HPE - Free Report) is benefiting from a broader shift toward AI infrastructure, networking modernization and hybrid cloud, with Juniper expanding its addressable market and integration synergies supporting earnings growth. Record orders and backlog show demand is ahead of shipments, while Private Cloud AI, Alletra and GreenLake deepen HPE’s exposure to software, services and recurring consumption. For fiscal 2026, HPE raised its revenue growth outlook to 34-37% and non-GAAP earnings per share guidance to $3.75-$3.85. For fiscal 2027, management raised its revenue growth framework to 13-17% and projected non-GAAP earnings-per-share growth of 16-20%.
Teradata Corporation (TDC - Free Report) is gaining from rising recurring revenue, expanding operating leverage and a strengthened balance sheet that gives the company room to fund AI innovation and shareholder returns. The Autonomous Knowledge Platform broadens its hybrid data and AI proposition, while Teradata Factory and AI Studio target regulated, sovereign and production-scale agentic AI workloads. Customer interest and early wins support the strategic shift and stronger retention over time. For the third quarter of 2026, Teradata expects revenues to decline 6% to 4% year over year, while recurring revenues are expected to decrease 4% to 2%. For 2026, Teradata reaffirmed its forecast for total ARR growth of 2-4% year over year, recurring revenue growth of flat to 2%, and total revenue performance ranging from a 2% decline to flat.
NTAP Price Performance, Valuation & EstimatesShares of NetApp have gained 29.8% in the past three months against the Computer-Storage Devices industry’s decline of 16%.
Image Source: Zacks Investment Research
Regarding the price/book ratio, NTAP is trading at 25.91, higher than the industry’s multiple of 15.37.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NTAP’s earnings for fiscal 2027 has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
NTAP currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NetApp Inc (NASDAQ:NTAP), the data infrastructure company, said Friday it plans to acquire PEAK:AIO, a UK-based software company focused on high-performance storage and metadata architecture for artificial intelligence (AI) workloads.
The planned acquisition is intended to strengthen NetApp’s AI infrastructure offering by adding PEAK:AIO’s metadata technology and parallel file architecture, which are designed to support large-scale AI systems.
The companies are targeting infrastructure that can support trillions of files, multi-exabyte deployments and highly parallel workloads as AI systems require greater storage capacity and faster access to data.
PEAK:AIO’s technology is designed to separate metadata, information that describes and organizes stored data, from the data itself, allowing metadata services to scale independently.
The planned combination would integrate PEAK:AIO’s technology with NetApp’s ONTAP software, which provides data management, security and resilience across enterprise storage environments.
NetApp said the architecture is designed to reduce data-related delays that can leave graphics processing units (GPUs), the chips widely used to train and run AI models, waiting for information.
PEAK:AIO’s platform supports parallel Network File System (NFS) access, allowing multiple computing processes to access shared data simultaneously for large-scale workloads.
The Manchester-based company developed its technology through collaborations with research institutions including Los Alamos National Laboratory and Carnegie Mellon University.
PEAK:AIO’s platform is deployed at institutions including Los Alamos National Laboratory, Carnegie Mellon University, the University of Liverpool and the University of Strathclyde.
The acquisition remains subject to customary closing conditions and regulatory approvals, while NetApp did not disclose financial terms for the transaction.
The deal follows NetApp’s acquisition of DataPelago in July and JetStream Software in August as the company expands its data infrastructure portfolio for AI workloads.
SAN JOSE, Calif.--(BUSINESS WIRE)--NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced its intent to acquire PEAK:AIO, a pioneer in next-generation metadata architecture and high-performance parallel file systems. The planned acquisition is expected to accelerate NetApp's AI infrastructure roadmap by augmenting metadata services and parallel namespace innovation designed to help AI clouds scale shared storage alongside growing GPU clusters. As AI becomes embedde.
NetApp, Inc. (NASDAQ:NTAP – Get Free Report) Director Deepak Ahuja sold 3,450 shares of NetApp stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $200.00, for a total value of $690,000.00. Following the sale, the director directly owned 12,814 shares of the company’s stock, valued at approximately $2,562,800. This represents a 21.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Deepak Ahuja also recently made the following trade(s):
On Monday, September 14th, Deepak Ahuja sold 3,526 shares of NetApp stock. The shares were sold at an average price of $194.04, for a total value of $684,185.04. NetApp Stock Up 0.5% Shares of NTAP stock opened at $197.24 on Friday. NetApp, Inc. has a fifty-two week low of $93.69 and a fifty-two week high of $209.06. The firm has a market capitalization of $38.74 billion, a PE ratio of 27.82, a P/E/G ratio of 2.08 and a beta of 1.44. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. The stock’s 50-day simple moving average is $187.16 and its 200-day simple moving average is $150.16.
NetApp (NASDAQ:NTAP – Get Free Report) last released its earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The company’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Equities analysts expect that NetApp, Inc. will post 8.32 earnings per share for the current year. NetApp Dividend Announcement The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, October 9th. NetApp’s payout ratio is presently 29.34%.
Trending Headlines about NetApp Here are the key news stories impacting NetApp this week:
Positive Sentiment: NetApp’s latest quarterly results showed substantial momentum: revenue rose nearly 30% year over year to approximately $2.03 billion, while adjusted EPS of $2.58 exceeded the $2.12 consensus estimate. Management also issued fiscal 2027 EPS guidance of $9.73–$10.03. NetApp Stock Gains After Strong Q1 Growth Positive Sentiment: Technical analysts identified an early buy trigger after NTAP found support at a key price level, reinforcing the bullish momentum following its earnings beat. NetApp Hits Early Buy Trigger Positive Sentiment: NetApp’s INSIGHT 2026 conference begins September 29 in Las Vegas. The event will include analyst and investor sessions with senior executives, creating potential catalysts from product announcements, cloud updates or additional financial commentary. Commvault’s participation also highlights ecosystem interest in NetApp’s platform. Commvault to Exhibit at NetApp Insight 2026 Neutral Sentiment: NetApp continues to attract considerable investor attention, but the prevailing analyst consensus remains “Hold.” The consensus price target of about $193.86 is close to the current trading range, suggesting much of the positive outlook may already be reflected in the valuation. Zacks NetApp Investor Attention Neutral Sentiment: Reported short interest was zero shares, implying no measurable short-selling pressure. However, the figure may reflect a reporting or data anomaly rather than a meaningful change in investor positioning. Negative Sentiment: CEO George Kurian sold 13,000 shares for approximately $2.6 million, and Director Deepak Ahuja sold 3,450 shares for $690,000. Neither transaction changes NetApp’s operations, but insider selling can temper sentiment after a substantial rally. NetApp Director Stock Sale Hedge Funds Weigh In On NetApp Several large investors have recently made changes to their positions in NTAP. Roble Belko & Company Inc purchased a new position in NetApp in the first quarter valued at $31,000. West Financial Advisors LLC purchased a new stake in shares of NetApp during the 2nd quarter worth about $37,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NetApp during the 4th quarter worth about $51,000. Bell Investment Advisors Inc acquired a new stake in shares of NetApp during the 2nd quarter valued at about $55,000. Finally, Compass Financial Management LLC acquired a new stake in shares of NetApp during the 2nd quarter valued at about $70,000. 92.17% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades NTAP has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of NetApp from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, September 3rd. UBS Group upped their price target on shares of NetApp from $160.00 to $171.00 and gave the company a “neutral” rating in a report on Thursday, September 3rd. Susquehanna increased their price target on NetApp from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Argus set a $225.00 price objective on NetApp in a research note on Friday, September 11th. Finally, Wall Street Zen raised NetApp from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, NetApp has a consensus rating of “Hold” and a consensus target price of $193.86.
Check Out Our Latest Stock Report on NTAP
About NetApp (Get Free Report)
NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.
The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.
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NetApp (NTAP - Free Report) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.
Over the past month, shares of this data storage company have returned +1.3%, compared to the Zacks S&P 500 composite's +1.3% change. During this period, the Zacks Computer- Storage Devices industry, which NetApp falls in, has gained 10.4%. The key question now is: What could be the stock's future direction?
Although media reports or rumors about a significant change in a company's business prospects usually cause its stock to trend and lead to an immediate price change, there are always certain fundamental factors that ultimately drive the buy-and-hold decision.
Revisions to Earnings EstimatesHere at Zacks, we prioritize appraising the change in the projection of a company's future earnings over anything else. That's because we believe the present value of its future stream of earnings is what determines the fair value for its stock.
We essentially look at how sell-side analysts covering the stock are revising their earnings estimates to reflect the impact of the latest business trends. And if earnings estimates go up for a company, the fair value for its stock goes up. A higher fair value than the current market price drives investors' interest in buying the stock, leading to its price moving higher. This is why empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For the current quarter, NetApp is expected to post earnings of $2.60 per share, indicating a change of +26.8% from the year-ago quarter. The Zacks Consensus Estimate has changed +21.6% over the last 30 days.
The consensus earnings estimate of $10.05 for the current fiscal year indicates a year-over-year change of +23.6%. This estimate has changed +13.7% over the last 30 days.
For the next fiscal year, the consensus earnings estimate of $11.03 indicates a change of +9.7% from what NetApp is expected to report a year ago. Over the past month, the estimate has changed +11.5%.
Having a strong externally audited track record, our proprietary stock rating tool, the Zacks Rank, offers a more conclusive picture of a stock's price direction in the near term, since it effectively harnesses the power of earnings estimate revisions. Due to the size of the recent change in the consensus estimate, along with three other factors related to earnings estimates, NetApp is rated Zacks Rank #1 (Strong Buy).
The chart below shows the evolution of the company's forward 12-month consensus EPS estimate:
12 Month EPS
Revenue Growth ForecastEven though a company's earnings growth is arguably the best indicator of its financial health, nothing much happens if it cannot raise its revenues. It's almost impossible for a company to grow its earnings without growing its revenue for long periods. Therefore, knowing a company's potential revenue growth is crucial.
For NetApp, the consensus sales estimate for the current quarter of $2.11 billion indicates a year-over-year change of +23.8%. For the current and next fiscal years, $8.23 billion and $8.7 billion estimates indicate +18.9% and +5.7% changes, respectively.
Last Reported Results and Surprise HistoryNetApp reported revenues of $2.03 billion in the last reported quarter, representing a year-over-year change of +29.9%. EPS of $2.58 for the same period compares with $1.55 a year ago.
Compared to the Zacks Consensus Estimate of $1.84 billion, the reported revenues represent a surprise of +9.86%. The EPS surprise was +21.13%.
The company beat consensus EPS estimates in each of the trailing four quarters. The company topped consensus revenue estimates each time over this period.
ValuationNo investment decision can be efficient without considering a stock's valuation. Whether a stock's current price rightly reflects the intrinsic value of the underlying business and the company's growth prospects is an essential determinant of its future price performance.
While comparing the current values of a company's valuation multiples, such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF), with its own historical values helps determine whether its stock is fairly valued, overvalued, or undervalued, comparing the company relative to its peers on these parameters gives a good sense of the reasonability of the stock's price.
The Zacks Value Style Score (part of the Zacks Style Scores system), which pays close attention to both traditional and unconventional valuation metrics to grade stocks from A to F (an A is better than a B; a B is better than a C; and so on), is pretty helpful in identifying whether a stock is overvalued, rightly valued, or temporarily undervalued.
NetApp is graded F on this front, indicating that it is trading at a premium to its peers. Click here to see the values of some of the valuation metrics that have driven this grade.
ConclusionThe facts discussed here and much other information on Zacks.com might help determine whether or not it's worthwhile paying attention to the market buzz about NetApp. However, its Zacks Rank #1 does suggest that it may outperform the broader market in the near term.
NetApp, Inc. (NASDAQ: NTAP - Get Free Report) CEO George Kurian sold 13,000 shares of the business's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $200.01, for a total value of $2,600,130.00. Following the sale, the chief executive officer directly owned 305,537 shares of the company's stock,
SUNNYVALE, Calif.--(BUSINESS WIRE)--NetApp (NASDAQ: NTAP) will hold their 2026 INSIGHT™ customer conference in Las Vegas, Nevada on September 29 – October 1, 2026. On Tuesday, September 29, 2026, NetApp will host a technology session for financial analysts and investors from 11:00 a.m. – 3:00 p.m. Pacific Time. The event will include George Kurian, Chief Executive Officer; Syam Nair, Chief Product Officer; Wissam Jabre, Executive Vice President and Chief Financial Officer and several tech speci.
NetApp (NTAP - Free Report) appears an attractive pick given a noticeable improvement in the company's earnings outlook. The stock has been a strong performer lately, and the momentum might continue with analysts still raising their earnings estimates for the company.
The upward trend in estimate revisions for this data storage company reflects growing optimism of analysts on its earnings prospects, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. This insight is at the core of our stock rating tool -- the Zacks Rank.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For NetApp, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
The chart below shows the evolution of forward 12-month Zacks Consensus EPS estimate:
12 Month EPS
Current-Quarter Estimate RevisionsFor the current quarter, the company is expected to earn $2.60 per share, which is a change of +26.8% from the year-ago reported number.
The Zacks Consensus Estimate for NetApp has increased 21.61% over the last 30 days, as eight estimates have gone higher compared to no negative revisions.
Current-Year Estimate RevisionsFor the full year, the earnings estimate of $10.05 per share represents a change of +23.6% from the year-ago number.
The revisions trend for the current year also appears quite promising for NetApp, with eight estimates moving higher over the past month compared to no negative revisions. The consensus estimate has also received a boost over this time frame, increasing 13.73%.
Favorable Zacks RankThanks to promising estimate revisions, NetApp currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom LineNetApp shares have added 6% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.
Momentum investing revolves around the idea of following a stock's recent trend in either direction. In "long context," investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.
While many investors like to look for momentum in stocks, this can be very tough to define. There is a lot of debate surrounding which metrics are the best to focus on and which are poor quality indicators of future performance. The Zacks Momentum Style Score, part of the Zacks Style Scores, helps address this issue for us.
Below, we take a look at NetApp (NTAP - Free Report) , which currently has a Momentum Style Score of B. We also discuss some of the main drivers of the Momentum Style Score, like price change and earnings estimate revisions.
It's also important to note that Style Scores work as a complement to the Zacks Rank, our stock rating system that has an impressive track record of outperformance. NetApp currently has a Zacks Rank of #1 (Strong Buy). Our research shows that stocks rated Zacks Rank #1 (Strong Buy) and #2 (Buy) and Style Scores of "A or B" outperform the market over the following one-month period.
You can see the current list of Zacks #1 Rank Stocks here >>>
Set to Beat the Market? In order to see if NTAP is a promising momentum pick, let's examine some Momentum Style elements to see if this data storage company holds up.
A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pinpoint the top companies in a particular area.
For NTAP, shares are up 7.38% over the past week while the Zacks Computer- Storage Devices industry is down 3.89% over the same time period. Shares are looking quite well from a longer time frame too, as the monthly price change of 2.13% compares favorably with the industry's 1.5% performance as well.
While any stock can see its price increase, it takes a real winner to consistently beat the market. That is why looking at longer term price metrics -- such as performance over the past three months or year -- can be useful as well. Over the past quarter, shares of NetApp have risen 27.38%, and are up 55.84% in the last year. On the other hand, the S&P 500 has only moved 3.19% and 16.94%, respectively.
Investors should also pay attention to NTAP's average 20-day trading volume. Volume is a useful item in many ways, and the 20-day average establishes a good price-to-volume baseline; a rising stock with above average volume is generally a bullish sign, whereas a declining stock on above average volume is typically bearish. NTAP is currently averaging 2,307,587 shares for the last 20 days.
Earnings OutlookThe Zacks Momentum Style Score encompasses many things, including estimate revisions and a stock's price movement. Investors should note that earnings estimates are also significant to the Zacks Rank, and a nice path here can be promising. We have recently been noticing this with NTAP.
Over the past two months, 8 earnings estimates moved higher compared to none lower for the full year. These revisions helped boost NTAP's consensus estimate, increasing from $8.88 to $10.05 in the past 60 days. Looking at the next fiscal year, 9 estimates have moved upwards while there have been no downward revisions in the same time period.
Bottom LineTaking into account all of these elements, it should come as no surprise that NTAP is a #1 (Strong Buy) stock with a Momentum Score of B. If you've been searching for a fresh pick that's set to rise in the near-term, make sure to keep NetApp on your short list.
NetApp, Inc. (NASDAQ:NTAP – Get Free Report) CEO George Kurian sold 40,000 shares of the firm’s stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $191.42, for a total value of $7,656,800.00. Following the sale, the chief executive officer directly owned 318,537 shares in the company, valued at approximately $60,974,352.54. The trade was a 11.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
NetApp Trading Up 2.8% NetApp stock opened at $196.92 on Friday. The stock has a 50-day moving average of $184.09 and a two-hundred day moving average of $146.78. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. NetApp, Inc. has a one year low of $93.69 and a one year high of $209.06. The stock has a market cap of $38.68 billion, a PE ratio of 27.77, a price-to-earnings-growth ratio of 2.06 and a beta of 1.44.
NetApp (NASDAQ:NTAP – Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $1.84 billion. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The company’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.15 earnings per share. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. On average, research analysts anticipate that NetApp, Inc. will post 8.32 EPS for the current fiscal year.
NetApp Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 28th. Investors of record on Friday, October 9th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.1%. NetApp’s payout ratio is 29.34%. Hedge Funds Weigh In On NetApp Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of NetApp in the 4th quarter valued at approximately $458,060,000. Jefferies Financial Group Inc. acquired a new stake in NetApp in the 4th quarter valued at approximately $14,869,000. Handelsbanken Fonder AB raised its position in NetApp by 106.8% in the fourth quarter. Handelsbanken Fonder AB now owns 262,732 shares of the data storage provider’s stock valued at $28,136,000 after purchasing an additional 135,715 shares during the period. National Pension Service lifted its stake in NetApp by 13.6% during the fourth quarter. National Pension Service now owns 180,917 shares of the data storage provider’s stock worth $19,374,000 after purchasing an additional 21,643 shares in the last quarter. Finally, Swedbank AB lifted its stake in NetApp by 22.0% during the fourth quarter. Swedbank AB now owns 97,086 shares of the data storage provider’s stock worth $10,397,000 after purchasing an additional 17,520 shares in the last quarter. 92.17% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In NTAP has been the subject of a number of recent research reports. Wedbush raised their price target on shares of NetApp from $150.00 to $170.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. Northland Securities increased their price objective on shares of NetApp from $171.00 to $187.00 and gave the stock an “outperform” rating in a research note on Thursday, September 3rd. Barclays raised their target price on shares of NetApp from $199.00 to $219.00 and gave the stock an “overweight” rating in a report on Thursday, September 3rd. Argus set a $225.00 target price on shares of NetApp in a research report on Friday, September 11th. Finally, Morgan Stanley upped their price target on shares of NetApp from $173.00 to $191.00 and gave the company an “equal weight” rating in a report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, NetApp currently has an average rating of “Hold” and a consensus target price of $193.86.
Check Out Our Latest Research Report on NetApp
More NetApp News Here are the key news stories impacting NetApp this week:
Positive Sentiment: NetApp’s latest earnings were well above expectations, with EPS of $2.58 versus the $2.12 consensus and revenue of approximately $2.02 billion versus estimates of $1.84 billion. Revenue increased nearly 30% year over year, and fiscal 2027 EPS guidance of $9.73 to $10.03 supports the bullish outlook. Positive Sentiment: Investors are responding favorably to management’s focus on AI-related infrastructure, cloud adoption and data-management demand. Recent analyst actions included higher price targets from Barclays and Evercore, although the broader analyst consensus remains Hold. Positive Sentiment: NetApp expanded its NFL relationship by becoming an Official Partner of the Tampa Bay Buccaneers. The partnership will showcase NetApp’s data infrastructure, analytics and cloud capabilities across the team’s operations and digital fan platforms, potentially improving enterprise brand visibility. NetApp and Tampa Bay Buccaneers Partner to Enable Data-Driven Operational Excellence Positive Sentiment: The company’s $0.52 quarterly dividend, equivalent to $2.08 annually and a yield of roughly 1.1%, provides continued shareholder income. Neutral Sentiment: Investors are evaluating whether the record quarter reflects durable growth or a pull-forward of demand from later periods. Strong guidance and AI/cloud momentum are supportive, but the stock’s valuation near 27 times earnings leaves limited room for execution misses. Did NetApp Borrow Its Record Quarter From The Rest Of The Year? Negative Sentiment: CEO George Kurian sold 40,000 shares worth about $7.7 million, while Director Deepak Ahuja sold 3,526 shares for approximately $684,000. Both retained sizable positions, so the sales are not definitive evidence of a bearish outlook, but they may create modest sentiment pressure. About NetApp (Get Free Report)
NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.
The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.
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Corient Private Wealth LP reduced its stake in shares of NetApp, Inc. (NASDAQ:NTAP – Free Report) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,360 shares of the data storage provider’s stock after selling 3,017 shares during the quarter. Corient Private Wealth LP’s holdings in NetApp were worth $6,865,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Roble Belko & Company Inc bought a new position in NetApp during the 1st quarter worth approximately $31,000. Elyxium Wealth LLC acquired a new position in NetApp during the fourth quarter valued at approximately $35,000. West Financial Advisors LLC bought a new stake in NetApp in the second quarter valued at approximately $37,000. University of Texas Texas AM Investment Management Co. bought a new stake in NetApp in the fourth quarter valued at approximately $51,000. Finally, Bell Investment Advisors Inc acquired a new stake in NetApp in the second quarter worth $55,000. 92.17% of the stock is owned by institutional investors.
Key Stories Impacting NetApp Here are the key news stories impacting NetApp this week:
Positive Sentiment: NetApp’s latest earnings were well above expectations, with EPS of $2.58 versus the $2.12 consensus and revenue of approximately $2.02 billion versus estimates of $1.84 billion. Revenue increased nearly 30% year over year, and fiscal 2027 EPS guidance of $9.73 to $10.03 supports the bullish outlook. Positive Sentiment: Investors are responding favorably to management’s focus on AI-related infrastructure, cloud adoption and data-management demand. Recent analyst actions included higher price targets from Barclays and Evercore, although the broader analyst consensus remains Hold. Positive Sentiment: NetApp expanded its NFL relationship by becoming an Official Partner of the Tampa Bay Buccaneers. The partnership will showcase NetApp’s data infrastructure, analytics and cloud capabilities across the team’s operations and digital fan platforms, potentially improving enterprise brand visibility. NetApp and Tampa Bay Buccaneers Partner to Enable Data-Driven Operational Excellence Positive Sentiment: The company’s $0.52 quarterly dividend, equivalent to $2.08 annually and a yield of roughly 1.1%, provides continued shareholder income. Neutral Sentiment: Investors are evaluating whether the record quarter reflects durable growth or a pull-forward of demand from later periods. Strong guidance and AI/cloud momentum are supportive, but the stock’s valuation near 27 times earnings leaves limited room for execution misses. Did NetApp Borrow Its Record Quarter From The Rest Of The Year? Negative Sentiment: CEO George Kurian sold 40,000 shares worth about $7.7 million, while Director Deepak Ahuja sold 3,526 shares for approximately $684,000. Both retained sizable positions, so the sales are not definitive evidence of a bearish outlook, but they may create modest sentiment pressure. Analyst Ratings Changes A number of equities analysts have recently weighed in on NTAP shares. Argus set a $225.00 price target on shares of NetApp in a research report on Friday, September 11th. JPMorgan Chase & Co. increased their price objective on shares of NetApp from $110.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Zacks Research upgraded NetApp from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of NetApp in a research report on Thursday, September 3rd. Finally, Bank of America upped their target price on NetApp from $180.00 to $206.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $193.86. View Our Latest Report on NTAP
Insiders Place Their Bets In other NetApp news, President Cesar Cernuda sold 49,464 shares of the stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $154.82, for a total value of $7,658,016.48. Following the transaction, the president directly owned 46,806 shares of the company’s stock, valued at $7,246,504.92. This represents a 51.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Elizabeth O’Callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $184.74, for a total transaction of $184,740.00. Following the sale, the executive vice president owned 30,737 shares of the company’s stock, valued at $5,678,353.38. This trade represents a 3.15% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,538 shares of company stock worth $18,241,313 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.
NetApp Stock Up 2.8% Shares of NTAP stock opened at $196.92 on Friday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.16 and a current ratio of 1.24. The firm’s 50-day moving average is $184.09 and its 200-day moving average is $146.78. The stock has a market cap of $38.68 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.06 and a beta of 1.44. NetApp, Inc. has a 52-week low of $93.69 and a 52-week high of $209.06.
NetApp (NASDAQ:NTAP – Get Free Report) last posted its quarterly earnings results on Wednesday, September 2nd. The data storage provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.46. NetApp had a return on equity of 119.13% and a net margin of 19.18%.The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter last year, the company posted $1.15 earnings per share. NetApp’s quarterly revenue was up 29.9% on a year-over-year basis. NetApp has set its FY 2027 guidance at 9.730-10.030 EPS and its Q2 2027 guidance at 2.540-2.640 EPS. Sell-side analysts predict that NetApp, Inc. will post 8.32 EPS for the current year.
NetApp Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 28th. Shareholders of record on Friday, October 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, October 9th. NetApp’s payout ratio is currently 29.34%.
NetApp Company Profile (Free Report)
NetApp, Inc (NASDAQ: NTAP) is a data infrastructure and cloud storage company that helps organizations manage, protect and access data across on-premises environments, private clouds and public clouds. Its offerings are designed to support enterprise workloads such as databases, business applications, artificial intelligence and virtualized computing.
The company’s portfolio includes all-flash and hybrid storage systems, cloud storage services, data management software and infrastructure-as-a-service solutions.
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Key Takeaways NetApp becomes an official partner of the Tampa Bay Buccaneers, expanding its NFL relationship.The Buccaneers will use NetApp Keystone to support data workloads across game days and digital platforms.NetApp closed about 350 AI and data lake modernization deals as customers moved toward production workloads. NetApp, Inc. (NTAP - Free Report) has been named an official partner of the Tampa Bay Buccaneers, expanding its relationship with the National Football League (“NFL”). NetApp already serves as the NFL’s Official Intelligent Data Infrastructure Partner, helping the league and its teams securely access, manage and activate data. Through the new partnership, the Buccaneers will leverage NetApp technology to support the fan experience at Raymond James Stadium on game days as well as across the team’s digital platforms.
The partnership follows the Buccaneers’ first regular-season game of the 2026 season against the Cincinnati Bengals on Sept. 13. NetApp stated that its technology supports demanding workloads across the NFL, including the storage and availability of game-day video used by NFL and club football operations teams. The collaboration with the Buccaneers will further extend the company’s role in supporting data-intensive operations within professional football.
The Buccaneers will use NetApp Keystone, a flexible, subscription-based service designed to adapt to changing business requirements. The solution provides performance, intelligent data management and high availability for data workloads across data centers and cloud environments. NetApp’s platform also includes built-in data security capabilities designed to autonomously detect threats and enable rapid recovery. According to Buccaneers chief commercial officer Atul Khosla, reliable and secure access to data is an important part of the game-day experience, with NetApp expected to help deliver a more seamless and connected experience for fans.
The partnership comes as NetApp continues to expand its focus on AI, cloud and data infrastructure. On its first-quarter fiscal 2027 earnings call, the company highlighted that it had closed approximately 350 AI and data lake modernization deals during the quarter, with deal sizes increasing as customers move from proof-of-concept projects to production workloads. NetApp also highlighted its expanding relationships with customers across AI, cloud and data modernization.
Beyond the Buccaneers partnership, NetApp continues to deepen its relationships across technology and enterprise markets. During the fiscal first quarter, the company signed a significant agreement with Samsung Electronics to support its EDA environment and AI Center of Excellence. NetApp also secured strategic business with a public-sector organization involving its AFX platform and NVIDIA SuperPOD, while winning a significant engagement with an Asian neocloud provider to provide storage infrastructure for AI services.
Taking a Look at NTAP’s CompetitorsHewlett Packard Enterprise (HPE - Free Report) is benefiting from a broader shift toward AI infrastructure, networking modernization and hybrid cloud, with Juniper expanding its addressable market and integration synergies supporting earnings growth. Record orders and backlog show demand is running ahead of shipments, while Private Cloud AI, Alletra and GreenLake deepen HPE’s exposure to software, services and recurring consumption. Management has raised its fiscal 2026 and fiscal 2027 outlooks as profitability, free cash flow and deleveraging advance. For the fourth quarter of fiscal 2026, HPE expects revenues of $13.9-$14.8 billion. For fiscal 2026, HPE raised its revenue growth outlook to 34-37%.
Teradata Corporation (TDC - Free Report) is gaining from rising recurring revenue, expanding operating leverage and a strengthened balance sheet that gives the company room to fund AI innovation and shareholder returns. The Autonomous Knowledge Platform broadens its hybrid data and AI proposition, while Teradata Factory and AI Studio target regulated, sovereign and production-scale agentic AI workloads. Customer interest and early wins support the strategic shift and stronger retention over time. For the third quarter of 2026, Teradata expects total revenues to decline 6% to 4% year over year, while recurring revenues are expected to decrease 4% to 2%.
NTAP Price Performance, Valuation & EstimatesShares of NetApp have gained 20.3% in the past three months against the Computer-Storage Devices industry’s decline of 33.1%.
Image Source: Zacks Investment Research
Regarding the price/book ratio, NTAP is trading at 25.16, higher than the industry’s multiple of 13.77.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for NTAP’s earnings for fiscal 2027 has been revised upward over the past 60 days.
Image Source: Zacks Investment Research
NTAP currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
