NetApp, IncNasdaq: NTAP
Information Technology · Technology Hardware, Storage & Peripherals
$159.67
+3.14%
Vol: 2.3M
Research Digest
Friday, June 19, 2026
No significant overnight updates
No material news in the last 48 hours.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15NetApp shares surged roughly 27% on Friday after record fiscal Q4 2026 results and a wave of analyst price-target raises tied to AI-driven storage demand.Positive▶
NetApp reported fiscal Q4 2026 revenue of about $1.95 billion, up 12.5% year over year, with diluted EPS of $2.03, up 23.8% from the prior year, and record all-flash array revenue of $1.2 billion (+18% YoY) and record Public Cloud revenue of $182 million (+11% YoY). The company cited roughly 500 AI and data-preparation wins in the quarter and guided fiscal 2027 revenue to $7.33-$7.58 billion, reaffirming its $0.52 per-share dividend. Shares jumped about 27% on Friday (June 12) as analysts flooded in with price-target raises, with TD Cowen and Goldman Sachs both lifting targets to $200. The move reflects renewed conviction that NetApp is a beneficiary of enterprise AI infrastructure spending and hybrid/public cloud adoption. The risk/bear case is that EPS of $2.03 actually came in below the ~$2.31 consensus, suggesting the rally is driven by forward AI optimism and guidance rather than current bottom-line execution, leaving the stock exposed if AI deal momentum slows or margins compress. Valuation has also re-rated sharply higher after the pop, raising the bar for future quarters.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21NetApp shares rose 2.1% on May 14 to $123.47 on acquisition rumors ahead of May 28 earningsPositive▶
NetApp shares climbed 2.1% on May 14 to a peak of $123.47 driven by acquisition rumors, with YTD gains of about 12%. The company will report Q4 and full-year fiscal 2026 results on May 28 after the close, with analysts forecasting EPS of $2.26 and revenue of $1.86B (growth of 7.6-8%). On May 12 NetApp announced a Red Hat OpenShift data protection collaboration to improve resilience for VM and container environments. CEO George Kurian received share grants tied to performance stock units on May 14. The stock is increasingly viewed as an AI infrastructure beneficiary. Risk: takeover speculation creates volatility risk on earnings if no deal materializes; Zacks Rank #4 (Sell) suggests near-term EPS estimate momentum is unfavorable.
May 20NetApp shares climb on acquisition rumors and Red Hat OpenShift partnership ahead of May 28 earnings, but BWG and JPMorgan downgradeMixed▶
NetApp stock rose 2.1% on May 14, 2026 to a peak of $123.47 on acquisition rumors. The company announced on May 12 a collaboration with Red Hat to advance data protection for Red Hat OpenShift virtualized environments, improving backup/recovery speed for VM and container workloads. However, BWG Global downgraded NTAP to Mixed from Positive on May 14, and JPMorgan cut to Neutral with a price target reduction to $110 from $125. NetApp will report Q4 and FY2026 results after market close on May 28, 2026, with analysts forecasting EPS of $2.26 and revenue of $1.86B. The stock has gained roughly 12% over recent weeks (~$120) on AI infrastructure tailwinds.
May 19NetApp shares rose 2.1% on May 14, 2026 on takeover speculation while BWG Global downgraded the stock to Mixed ahead of the May 28 earnings release.Mixed▶
On May 14, 2026, NetApp shares climbed approximately 2.1% to an intraday peak of $123.47 on renewed acquisition rumors, with financial media speculating NTAP could become a target in ongoing cloud/infrastructure software consolidation. On the same day, BWG Global downgraded NTAP from Positive to Mixed; JP Morgan also recently moved to Neutral with a $110 PT (from $125). On May 12, NetApp announced new data-management capabilities optimized for Red Hat OpenShift to improve backup, recovery and VM/container operations. The company will report Q4 and full-year fiscal 2026 results after the close on May 28, 2026, with consensus near $2.26 EPS and $1.86B revenue. An EVP also sold 1,000 shares under a 10b5-1 plan. Average analyst rating is Hold with a $118.09 PT. Key risk is the post-earnings reaction given the recent downgrade trend.
May 18NetApp jumps 2.1% on May 14 acquisition rumors to $123.47; announces Red Hat OpenShift data management collaborationPositive▶
NetApp shares rose approximately 2.1% on May 14, 2026 to a peak of $123.47 on acquisition rumors circulating in financial media. The stock is up about 12% YTD from ~$107 at year start. On May 12, NetApp announced an expanded collaboration with Red Hat introducing new data management capabilities optimized for Red Hat OpenShift, enabling enhanced resilience and scale for virtualized environments. NetApp will report Q4 and full-year fiscal 2026 results after market close on May 28, with analysts forecasting EPS of $2.26 and revenue of $1.86B. EVP Elizabeth O'Callahan sold 1,000 shares at $117.73 on May 11 under a 10b5-1 plan.
May 15NetApp stock rose 2.1% on May 14 to $123.47 on acquisition rumors ahead of Q4 fiscal 2026 results on May 28; partnership with Red Hat OpenShift announced May 12.Positive▶
NTAP rose ~2.1% on May 14, 2026 to a peak of $123.47 amid acquisition takeover rumors. NetApp will report Q4/FY2026 earnings on May 28 after the close, with analysts forecasting EPS of $2.26 on revenue of $1.86B. On May 12, NetApp announced enhanced data management capabilities optimized for Red Hat OpenShift, enabling improved resilience and scale for virtualized environments on-prem and cloud. NetApp was also named 2026 Google Cloud Infrastructure Modernization Partner of the Year for Storage. EVP Elizabeth O'Callahan sold 1,000 shares at $117.73 on May 11. 12-analyst consensus is Hold with $118 PT (~0.3% upside). Stock is up 16.93% over the past month; risks include AI demand cycle and rumor unwind if no deal materializes.
May 14NetApp announced Red Hat OpenShift data management collaboration May 12 ahead of Q4/FY26 earnings May 28Neutral▶
On May 12, NetApp unveiled new data management capabilities optimized for Red Hat OpenShift to enhance resilience and scale for virtualized environments across on-premises and cloud. Company will report Q4 and FY26 results May 28; analysts forecast EPS $2.26 and revenue $1.86B. Stock has gained 10%+ year-to-date, trading near $118 in early May. NetApp also won 2026 Google Cloud Infrastructure Modernization Partner of the Year for Storage. Consensus Hold rating with $118.09 PT essentially in line with current price. Risk: enterprise IT spending cycle and AI infrastructure competition.
May 13NetApp launched enhanced data management features for Red Hat OpenShift on May 12 ahead of Q4 FY26 earnings on May 28.Neutral▶
NetApp announced upgraded data management features for Red Hat OpenShift on May 12. The company will report Q4 and full fiscal year 2026 results after market close on May 28, with analysts forecasting EPS of $2.26 and revenue of $1.86B. Iterate.ai announced a strategic alliance combining its private agentic AI platform with NetApp's AIPod Mini. NetApp also won the 2026 Google Cloud Infrastructure Modernization Partner of the Year for Storage. Stock trades ~$116.76 with analyst consensus Hold and average 12-month PT of $118.09.
May 12NetApp will report Q4 and FY2026 results on May 28 with consensus at $2.26 EPS and $1.86B revenue; Iterate.ai alliance and Google Cloud award boost AI positioning.Positive▶
NetApp set its Q4 and FY2026 earnings webcast for May 28 after market close, with analysts forecasting EPS of $2.26 and revenue of $1.86B. Iterate.ai announced an alliance combining its Generate agentic AI platform with NetApp's AIPod Mini for on-premises AI in healthcare and government. NetApp also received the 2026 Google Cloud Infrastructure Modernization Partner of the Year for Storage Award. Shares trade near $118 with a 16.93% monthly gain, and analyst consensus is Hold with a $118.09 target. Sentiment is positive into earnings on AI partnership momentum.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| NTAPNETAPP | $159.67 | +3.14% | -0.9% | 15.7x | 1.45 | $30.2B |
| AAPLAPPLE | $298.37 | +0.82% | +5.3% | 32.1x | 1.10 | $4.53T |
| SNDKSANDISK | $2,187.22 | +11.66% | -8.8% | 9.3x | — | $258.4B |
| DELLDELL | $409.27 | -2.40% | -9.2% | 18.4x | 1.38 | $254.8B |
| WDCWESTERN | $746.87 | +4.88% | -16.3% | 29.7x | 2.17 | $185.8B |
| STXSEAGATE | $1,070.97 | +0.46% | -17.4% | 30.1x | 2.07 | $185.6B |
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Price above both MAs — bullish structure.