NetApp (NTAP) Stock Overview
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. More details
| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 2/6 |
| Past Performance | 3/6 |
| Financial Health | 5/6 |
| Dividends | 5/6 |
Rewards
Risk Analysis
No risks detected for NTAP from our risk checks.
NTAP Community Fair Values
Create NarrativeSee what 87 others think this stock is worth. Follow their fair value or set your own to get alerts.
Analyst Price Targets
NetApp, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$113.00 |
| 52 Week High | US$126.66 |
| 52 Week Low | US$92.91 |
| Beta | 1.27 |
| 1 Month Change | 15.77% |
| 3 Month Change | 9.35% |
| 1 Year Change | 19.65% |
| 3 Year Change | 79.22% |
| 5 Year Change | 47.50% |
| Change since IPO | 8,719.51% |
Recent News & Updates
Narrative Update • Apr 24
NTAP: Flash And Cloud Exposure Will Counter Higher Memory Cost Pressures
NetApp's analyst price target has edged lower by about $0.80 to roughly $117, as analysts factor in concerns around higher memory component costs and potential pressure on product gross margins, while still seeing some support from flash and public cloud exposure. Analyst Commentary Recent Street research on NetApp points to a mixed setup, with most firms trimming price targets and highlighting both execution strengths and margin risks tied to memory costs.Seeking Alpha • Apr 22
NetApp: Decent Revenue Growth, Stronger Earnings Growth
Summary NetApp's (NTAP) earnings growth is driven by improving gross, operating, and FCF margins, underpinned by a shift to higher ASP all-flash products and first-party cloud partnerships. Public Cloud segment gross margins surged from 43.5% (2020) to 82.8% (TTM), benefiting from unique first-party integrations with major CSPs. Operating margin expansion is supported by indirect sales channels, while stable capex and rising SBC enhance FCF conversion from net earnings. Read the full article on Seeking AlphaRecent updates
Narrative Update • Apr 24
NTAP: Flash And Cloud Exposure Will Counter Higher Memory Cost Pressures
NetApp's analyst price target has edged lower by about $0.80 to roughly $117, as analysts factor in concerns around higher memory component costs and potential pressure on product gross margins, while still seeing some support from flash and public cloud exposure. Analyst Commentary Recent Street research on NetApp points to a mixed setup, with most firms trimming price targets and highlighting both execution strengths and margin risks tied to memory costs.Seeking Alpha • Apr 22
NetApp: Decent Revenue Growth, Stronger Earnings Growth
Summary NetApp's (NTAP) earnings growth is driven by improving gross, operating, and FCF margins, underpinned by a shift to higher ASP all-flash products and first-party cloud partnerships. Public Cloud segment gross margins surged from 43.5% (2020) to 82.8% (TTM), benefiting from unique first-party integrations with major CSPs. Operating margin expansion is supported by indirect sales channels, while stable capex and rising SBC enhance FCF conversion from net earnings. Read the full article on Seeking AlphaNarrative Update • Apr 07
NTAP: Flash And Cloud Mix Will Offset Rising Memory Cost Headwinds
Narrative Update on NetApp NetApp's updated fair value framework remains steady at about $118 per share while analysts fine tune assumptions around discount rates and product margins. This is reflected in recent price target moves that range from $88 to $120 as they weigh higher memory component costs against expectations for flash and public cloud mix.Narrative Update • Mar 24
NTAP: Flash And Cloud Mix Will Outweigh Rising Memory Cost Headwinds
Narrative Update The analyst price target for NetApp has been reset to $117.93. This reflects mixed recent revisions as analysts weigh higher memory and component costs, pressure on product gross margins, and solid expectations for flash- and cloud-driven revenue over time.Narrative Update • Mar 10
NTAP: Flash And Public Cloud Mix Will Offset Rising Memory Costs
Analysts have nudged their blended price target for NetApp lower to around $118, reflecting recent cuts from firms citing rising memory component costs and pressure on product gross margins, partially offset by expectations for ongoing growth in flash and public cloud revenue. Analyst Commentary Recent research on NetApp reflects a mixed setup, with price targets clustered around the low to mid US$100s and attention firmly on memory costs, product margins and the balance between traditional hardware and higher growth flash and cloud offerings.Narrative Update • Feb 18
NTAP: Margin Execution And Flash Leadership Will Support Future Memory Risk Upside
Analysts have reduced their blended price target on NetApp by $15 to $110. The change reflects slightly lower assumptions for revenue growth, profit margins and future P/E multiples, as well as growing caution around memory exposure across the hardware and storage group.Narrative Update • Feb 04
NTAP: Margin Strength And Flash Leadership Will Support Future Upside
Analysts have nudged their price expectations for NetApp to about $123 per share, reflecting steady views on revenue, margins and future P/E. They are also factoring in recent research that highlights solid execution in all flash arrays, firm gross margins, and a mix of Buy, Overweight and Neutral ratings with targets ranging from $120 to $134.Narrative Update • Jan 21
NTAP: Margin Strength And Flash Plus Cloud Execution Will Drive Upside
Analysts have trimmed their price target on NetApp by about $1.52 to roughly $122.81. This reflects a mix of tempered fair value and P/E assumptions, even as recent research highlights solid margins, strength in all flash arrays and ongoing growth in public cloud.Narrative Update • Jan 06
NTAP: Margin Strength And Flash Plus Cloud Mix Will Support Upside
Narrative Update Analysts have lifted their blended price target for NetApp to a range of about $120 to $134, reflecting confidence in the company’s gross margins and the performance of its all flash array and public cloud offerings. Analyst Commentary Recent research updates show analysts focusing heavily on NetApp's profitability profile and the mix of its storage offerings, with price targets now clustered between about $120 and $134.Narrative Update • Dec 14
NTAP: Margin Strength And Cloud Momentum Will Support Measured Future Upside
Analysts have nudged our NetApp price target slightly lower to approximately $124.33 from $125.00, reflecting only modest tweaks to long term growth, margin, and valuation assumptions, even as recent Street research highlights stronger than expected margins, robust all flash array performance, and sustained high teens public cloud growth. Analyst Commentary Recent Street commentary presents a largely constructive view on NetApp, with price targets edging higher alongside recognition of stronger profitability and resilient demand trends.Analysis Article • Dec 03
NetApp (NASDAQ:NTAP) Has Announced A Dividend Of $0.52
The board of NetApp, Inc. ( NASDAQ:NTAP ) has announced that it will pay a dividend of $0.52 per share on the 21st of...Narrative Update • Nov 29
NTAP: Solid Margin Performance Will Drive Shares Higher In Coming Quarters
NetApp's analyst price target has increased from $121.27 to $125.00. This reflects analyst confidence in the company's solid margin performance and continued growth in key product areas following a strong earnings report.Narrative Update • Nov 15
NTAP: Product Margin Recovery And Cloud Strength Will Offset Regional Weakness
Analysts have slightly increased their fair value estimate for NetApp to $121.27 per share from $121.14, citing steady performance relative to expectations and anticipations of recovering product margins along with resilient cloud software results. Analyst Commentary Recent updates from Wall Street highlight a mix of optimism and caution regarding NetApp’s outlook, as reflected by slight price target increases and recognition of both strengths and challenges within the company's recent results.Narrative Update • Oct 31
NTAP: Cloud Software Momentum And Margin Recovery Will Drive Measured Upside Ahead
Analysts have increased their price targets for NetApp, with Barclays raising its target by $8 to $125. The firm cited expectations for product margin recovery and continued strength in cloud software.Narrative Update • Oct 16
AI And Hybrid Cloud Migration Will Expand Global Reach
Analysts have modestly increased their price target for NetApp from $119.71 to $121.14 per share. They cite expectations for recovering product margins and continued strength in cloud software despite recent mixed quarterly results.Narrative Update • Sep 25
AI And Hybrid Cloud Migration Will Expand Global Reach
Analysts have raised NetApp’s price target modestly to $119.71, citing resilience in cloud software and enterprise hardware spending offsetting margin weakness and regional softness, while viewing the recent share selloff as overdone. Analyst Commentary Quarterly results were in line with internal expectations, but not as strong as key peers, especially Pure Storage, which is outperforming NetApp.Analysis Article • Sep 16
NetApp (NASDAQ:NTAP) Has Affirmed Its Dividend Of $0.52
NetApp, Inc. ( NASDAQ:NTAP ) has announced that it will pay a dividend of $0.52 per share on the 22nd of October. The...Analysis Article • Aug 31
NetApp (NASDAQ:NTAP) Is Paying Out A Dividend Of $0.52
The board of NetApp, Inc. ( NASDAQ:NTAP ) has announced that it will pay a dividend on the 22nd of October, with...Narrative Update • Aug 27
New AI And Cloud Solutions Will Strengthen Future Market Position
NetApp’s consensus price target was modestly raised to $117.07 as analysts cited better-than-expected enterprise hardware spending, strong Q4 results, improved operating leverage, and AI market positioning, supporting a cautiously positive outlook. Analyst Commentary Supply chain updates indicate enterprise hardware spending is tracking modestly better than expected, excluding print and consumer computer categories.Analysis Article • Jul 13
Is It Too Late To Consider Buying NetApp, Inc. (NASDAQ:NTAP)?
Let's talk about the popular NetApp, Inc. ( NASDAQ:NTAP ). The company's shares received a lot of attention from a...Analysis Article • Jun 25
NetApp (NASDAQ:NTAP) Has Affirmed Its Dividend Of $0.52
The board of NetApp, Inc. ( NASDAQ:NTAP ) has announced that it will pay a dividend of $0.52 per share on the 23rd of...Analysis Article • Jun 01
NetApp, Inc. (NASDAQ:NTAP) Just Released Its Yearly Earnings: Here's What Analysts Think
NetApp, Inc. ( NASDAQ:NTAP ) came out with its yearly results last week, and we wanted to see how the business is...Seeking Alpha • Apr 15
NetApp: Disappointing Guidance Paved The Way For An Attractive Price In This Strong Company
Summary Disappointing guidance for Q4 2025 paved the way for a more attractive price, which, I believe, is reasonable for this strong enterprise storage company. Despite the industry's fragmented structure, the stability of market share and high returns on capital indicate its participants' cooperation and the industry's competitive advantage. While the enterprise storage industry will benefit from the increasing adoption of AI among enterprises, it will take time, as there are still hurdles to overcome. With a free cash flow yield of 9%, I believe this is a fair current return, considering you are buying a strong company that will eventually benefit from AI. Read the full article on Seeking AlphaSeeking Alpha • Mar 19
NetApp: Tremendous Value To Be Unlocked
Summary Shares of NetApp have dropped sharply this year, accentuated by the company's growth slowdown and recent guidance cut. Management notes, however, that deals have been delayed rather than lost, with a number of challenging deals closing in the current quarter. While acknowledging sales slowdown risks, these risks are also priced in to NTAP's very appealing ~13x forward P/E ratio. Read the full article on Seeking AlphaSeeking Alpha • Feb 17
NetApp: Stands To Benefit From AI, But Needs More Discount
Summary Despite Stagnant Revenue, NetApp offset this by reorienting the company towards service and software and high-margin products, which expanded its margin. NetApp is poised to take advantage of AI due to the massive amount of unstructured data stored on its customers' storage infrastructures. Public cloud business stands to benefit from enterprises looking to migrate some of their data to cloud storage. NetApp's high switching cost provides a base for the company's revenue, which creates a strong foundation that allows the company to focus on growth initiatives. Read the full article on Seeking AlphaSeeking Alpha • Nov 26
NetApp: ARR Growth And Margin Expansion Should Drive Further Upside
Summary NetApp is a strong tech stock with solid earnings and a reasonable ~17x P/E, despite a challenging macro climate and a high S&P 500. The company delivered a beat-and-raise in Q2, lifting its full-year EPS guidance to $7.20-$7.40 (with the previous high end of its range now the new low end). The stock trades considerably cheaper than direct rivals like Pure Storage and Nutanix on both a P/E and revenue basis. Use the current lull in NetApp's stock as a buying opportunity, given its strong fundamentals and growth prospects. Read the full article on Seeking AlphaShareholder Returns
| NTAP | US Tech | US Market | |
|---|---|---|---|
| 7D | 2.0% | 7.9% | 3.2% |
| 1Y | 19.7% | 61.5% | 31.0% |
Return vs Industry: NTAP underperformed the US Tech industry which returned 61.5% over the past year.
Return vs Market: NTAP underperformed the US Market which returned 31% over the past year.
Price Volatility
| NTAP volatility | |
|---|---|
| NTAP Average Weekly Movement | 4.7% |
| Tech Industry Average Movement | 10.3% |
| Market Average Movement | 7.1% |
| 10% most volatile stocks in US Market | 16.1% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: NTAP has not had significant price volatility in the past 3 months compared to the US market.
Volatility Over Time: NTAP's weekly volatility (5%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1992 | 11,700 | George Kurian | 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 All-Flash FAS (AFF A-Series), NetApp All-Flash FAS with capacity flash (AFF C-Series), NetApp All-Flash SAN Array (ASA A-Series & C-Series), NetApp Fabric Attached Storage (FAS), NetApp E/EF series, and NetApp StorageGRID.
NetApp, Inc. Fundamentals Summary
| NTAP fundamental statistics | |
|---|---|
| Market cap | US$22.05b |
| Earnings (TTM) | US$1.21b |
| Revenue (TTM) | US$6.71b |
18.4x
P/E Ratio3.3x
P/S RatioIs NTAP overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| NTAP income statement (TTM) | |
|---|---|
| Revenue | US$6.71b |
| Cost of Revenue | US$1.98b |
| Gross Profit | US$4.73b |
| Other Expenses | US$3.52b |
| Earnings | US$1.21b |
Last Reported Earnings
Jan 23, 2026
Next Earnings Date
May 28, 2026
| Earnings per share (EPS) | 6.14 |
| Gross Margin | 70.46% |
| Net Profit Margin | 18.07% |
| Debt/Equity Ratio | 214.7% |
How did NTAP perform over the long term?
See historical performance and comparisonDividends
1.8%
Current Dividend Yield34%
Payout RatioCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/07 15:10 |
| End of Day Share Price | 2026/05/07 00:00 |
| Earnings | 2026/01/23 |
| Annual Earnings | 2025/04/25 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
Learn about the world class team who designed and built the Simply Wall St analysis model.
Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
NetApp, Inc. is covered by 47 analysts. 17 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| James Kelleher | Argus Research Company |
| Jayson Noland | Baird |
| Benjamin Reitzes | Barclays |