NetApp is riding the shift toward AI-heavy computing and hybrid cloud setups, which is pushing more customers toward its subscription-based data storage services that can bring steadier, higher-quality revenue. But the story also hinges on how well it can keep its edge as customers move to big cloud providers and storage gets more crowded and price-competitive.Read more

US$167.93

1.4% overvalued

AnalystConsensusTarget's

Fair Value

Revenue

6.31% p.a.

Profit Margin

20.52%

Future PE

23.59x

Price in 2029

US$215.01

NetApp

AI And Cloud Catalysts Will Drive Stronger Profitability For This Data Storage Leader

NetApp is riding a wave of demand as companies build and run new AI systems and move more work to the cloud, which could lift its sales and profitability. But the story depends on customers keeping up big spending and accepting higher prices, so any pullback or slower take‑up of its newer subscription-style offerings could change the outlook.Read more

US$200

14.8% undervalued

AnalystHighTarget's

Fair Value

Revenue

7.32% p.a.

Profit Margin

20.05%

Future PE

27.96x

Price in 2029

US$256.25

Trending Discussion

Snowflake Analysis

Flawless balance sheet with proven track record and pays a dividend.

1 Risk

3 Rewards

View Full Analysis

NetApp, Inc. Key Details

Last Reported Earnings

Apr 24, 2026

Next Reporting Earnings

Sep 02, 2026

: 6.51
: 70.74%
: 18.43%
: 184.1%

View Full Analysis

About NTAP

Founded: 1992
Employees: 11700
CEO: George Kurian
WebsiteView website: www.netapp.com

NetApp, Inc. provides a range of enterprise software, systems, and services that customers use to transform their data infrastructures in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. It operates through two segments, Hybrid Cloud and Public Cloud. The company offers data management software, such as NetApp ONTAP, ONTAP One, NetApp Snapshot, NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, and NetApp SnapLock Data Compliance; and storage infrastructure solutions, including NetApp AFF and ASA A-Series and C-Series, NetApp AFX, NetApp Fabric Attached Storage (FAS), NetApp E/EF series, and NetApp StorageGRID. It also provides cloud storage services comprising Azure NetApp Files, Amazon FSx for NetApp ONTAP, and Google Cloud NetApp Volumes, as well as NetApp Cloud Volumes ONTAP. In addition, the company offers operational services, such as NetApp Data Infrastructure Insights and Instaclustr; and professional and support services include storage-as-a-service (STaaS), strategic consulting, professional, managed, and support services, as well as assessment, design, implementation, migration, and proactive support services to help customers optimize the performance and efficiency of their on-premises and hybrid multicloud storage environments. Further, it offers ransomware protection, data backup and recovery, and disaster recovery. It serves various industries comprising energy, financial services, government, technology, internet, life sciences, healthcare services, manufacturing, media, entertainment, animation, video postproduction, and telecommunications through a direct sales force and an ecosystem of partners, including the cloud providers. The company has a strategic alliance with Commvault Systems, Inc. to develop an integrated solution for enterprise data protection and cyber resilience. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.