NetApp, IncNasdaq: NTAP
Information Technology · Technology Hardware, Storage & Peripherals
$161.60
+30.38%
Vol: 1.5M
Research Digest
Monday, June 15, 2026
NetApp 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.
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.
Previous Market Intelligence
13 daysJun 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.
May 11NetApp expands Google Cloud partnership and wins 2026 Infrastructure Modernization Award ahead of May 28 earningsPositive▶
NetApp won the 2026 Google Cloud Infrastructure Modernization Partner of the Year for Storage Award for helping customers modernize using Google Cloud NetApp Volumes, and expanded its Google partnership including a 4-year Enterprise Agreement for NetApp storage in Google Distributed Cloud. NTAP is partnering with Iterate.ai on private AI and healthcare automation. Q4/FY26 earnings hit May 28 after close with consensus EPS of $2.26 and revenue of $1.86B. NTAP is up 18.7% over 30 days and 26.1% over 1 year. JPMorgan downgraded NTAP to Neutral from Overweight with PT cut to $110 from $125. The 21-analyst consensus is Moderate Buy with $118.06 PT.
May 8NetApp scheduled to report Q4 FY2026 earnings May 28, 2026; AI and hybrid cloud demand supporting growth amid margin pressures.Mixed▶
NetApp Inc. is scheduled to report fourth quarter and fiscal year 2026 financial results on May 28, 2026, with expectations of $2.26 EPS and $1.86 billion in revenue. Company recently strengthened collaboration with Google Cloud on unified storage solutions and announced AI-driven operations partnership with Google Cloud in late April 2026. NetApp has also shown strong strategic partnership with Nutanix. Stock declined 2.08% recently despite outperformance over past month driven by strong growth in tech sector and AI solution alliances. Company benefits from surging AI and hybrid cloud adoption, with integrated subscription-based storage solutions driving high-margin, recurring revenues and expanded hyperscaler partnerships. Analyst price target edged lower by approximately $0.80 to roughly $117 as analysts factor in concerns around higher memory component costs and potential pressure on product gross margins, though maintaining support from flash and public cloud exposure. Vanguard Portfolio Management holds 6.44% stake with 12,718,223 shares as of March 31, 2026.
May 7NetApp scheduled to report Q4 and fiscal 2026 results on May 28, 2026; partnership with Google Cloud and Nutanix driving AI integration.Neutral▶
No significant overnight updates. NetApp will announce fourth quarter and fiscal 2026 results on May 28, 2026 after market close. The company has strengthened collaboration with Google Cloud on unified storage solutions and announced AI-driven operations partnerships, including strategic tie-up with Nutanix. Insider activity shows Oppenheimer Asset Management reduced holdings by 20.3% in Q4. The stock trades at P/E of 14.61 with 1.88% dividend yield.
May 6NetApp shows 9.8% monthly gains; strategic partnerships boost outlook despite margin pressuresMixed▶
NetApp stock rose 9.8% over last 30 days and 23.7% YoY with analysts estimating fair value of $117.13. Recent strategic partnerships with Nutanix highlight growth potential in cloud and AI sectors. Amazon S3 Access Points for FSx for NetApp ONTAP connects data to AWS AI/ML services. However, analysts lowered price target by $0.80 to $117 citing concerns around higher memory component costs and potential product gross margin pressure. Despite headwinds, strong flash and public cloud exposure support positive outlook. Recent institutional activity shows mixed signals with some funds reducing positions while others build new stakes.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| NTAPNETAPP | $161.60 | +30.38% | +34.2% | 16.4x | 1.43 | $31.7B |
| AAPLAPPLE | $296.00 | -2.95% | -0.5% | 30.9x | 1.09 | $4.35T |
| SNDKSANDISK | $2,105.77 | +36.54% | +58.1% | 11.5x | — | $312.2B |
| DELLDELL | $407.81 | +61.32% | +71.9% | 19.3x | 1.38 | $265.1B |
| STXSEAGATE | $1,018.00 | +25.61% | +37.5% | 37.6x | 2.08 | $230.5B |
| WDCWESTERN | $652.32 | +34.10% | +42.5% | 36.2x | 2.20 | $225.3B |
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