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NetApp, Inc.

NTAP · NASDAQ

Market open$162.50$2.81 (+1.76%)

Key statistics

Previous close$159.69
Open$159.74
Day high$165.36
Day low$157.00
52-week high$192.83
52-week low$93.69
Market cap31.84B
Volume1.47M
Average volume3.24M
P/E ratio19.94
Forward P/E16.31
EPS8.15
Dividend yield+1.28%

Market context

Why it moved

NetApp's stock edged higher as investor sentiment recovered following the company's strategic acquisition of AI data infrastructure firm DataPelago, combined with Goldman Sachs reaffirming a Buy rating and a $200 price target, highlighting NetApp's strong positioning in AI-driven storage solutions.

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What is happening

Recent company-specific developments and publisher coverage.

July 17, 2026NetApp rose amid a broader tech selloff, buoyed by its same-day announcement that it acquired DataPelago, an AI data infrastructure startup that brings GPU-accelerated processing directly to the storage layer — a move that reinforces NetApp's positioning as an enterprise AI infrastructure play. The acquisition adds to recent momentum from the company's strong May earnings report, which showed 12.5% revenue growth year-over-year, and an FY2027 guidance raise. While semiconductor and AI hardware peers like Micron, Sandisk, and Dell faced sharp declines amid sector-wide concerns over AI valuation and ROI, NetApp's gain suggests investors view its storage-centric AI strategy as more insulated from the chip selloff narrative.

1.697

July 17, 2026NetApp shares declined on July 16 as a broad semiconductor and AI hardware selloff swept through the technology sector, with the Philadelphia Semiconductor Index tumbling over 4%. The pressure came despite NetApp announcing a notable acquisition of DataPelago, a GPU-accelerated AI data infrastructure company, aimed at embedding intelligence directly at the storage layer — a move that signals strategic ambition in the AI era. JPMorgan raised its price target on NTAP to $175 (from $150) while maintaining a Neutral rating, reflecting cautious optimism near current levels. The broader backdrop remains complex: AI hardware stocks have faced sustained valuation scrutiny following IBM's dramatic profit warning last week, which highlighted enterprise capex rotating toward storage and memory hardware, a trend that could be a tailwind for NetApp yet has contributed to sector-wide volatility.

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July 16, 2026NetApp shares tumbled sharply, reversing the prior session's gains, as a broad selloff swept through AI hardware and infrastructure names following IBM's catastrophic Q2 earnings warning. IBM's revelation that enterprise clients abruptly shifted budgets toward servers, storage, and memory — crowding out software and services spend — initially appeared bullish for hardware vendors, but the market ultimately punished hardware stocks on Wednesday as Dell plunged 14% and HPE and Super Micro also slid. Ironically, NetApp and Oracle announced a new fully managed OCI-native storage service on the same day, reinforcing NetApp's AI and hybrid cloud positioning, but the positive partnership news was overwhelmed by sector-wide selling pressure.

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July 15, 2026NetApp surged alongside hardware peers after IBM's dramatic Q2 earnings warning revealed that enterprise clients are aggressively reallocating IT budgets away from software toward servers, storage, and memory — directly validating demand for NetApp's core business. IBM's CEO noted clients were reprioritizing capex on 'servers, storage, and memory purchases,' effectively signaling a tailwind for hardware-focused infrastructure providers. The move also came as a cooler-than-expected June CPI report lifted broader tech sentiment, with NetApp's stock well positioned heading into its next earnings report given recent 12.5% revenue growth and bullish FY2027 guidance.

6.4784

July 14, 2026NetApp fell nearly 3% as a broad risk-off session weighed on technology stocks, driven by renewed U.S.-Iran military tensions that sent oil prices surging ~5% and triggered a sharp selloff in semiconductor and storage-related names. The decline comes amid a mixed fundamental backdrop: NetApp's most recent quarter showed revenue of $1.95 billion beating estimates but EPS of $2.03 missing the $2.27 consensus, and notable insider selling — including a 51% reduction by President Cesar Cernuda — has added to cautious sentiment despite a Wall Street consensus price target near current levels at $169.33.

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July 11, 2026NetApp closed modestly lower, retreating from an intraday high of $176.97, as today marked the ex-dividend date for its $0.52 quarterly payout and the S&P 500 finished slightly higher amid mixed tech sentiment. The pullback came despite broader AI infrastructure tailwinds and recent analyst upgrades — Goldman Sachs and Argus both carry $200 price targets — while the consensus Hold rating and average target of $169.33 suggest the stock is trading near perceived fair value following a 79% surge over the past 90 days. Insider selling activity, including President Cesar Cernuda's $7.6M share sale in late June, and a Q4 EPS miss ($2.03 vs. $2.27 expected) continue to temper enthusiasm even as revenue grew 12.5% year-over-year and cloud storage services surged 33%.

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July 10, 2026NetApp gained nearly 4% — outperforming the technology sector ETF (XLK), which ended the day little changed — as investors refocused on the company's AI infrastructure narrative and FY27 growth outlook after a volatile stretch for tech stocks. The move builds on momentum from strong fiscal Q4 2026 results posted in late May, where revenue surged 12.5% year-over-year to $1.95 billion, alongside an upbeat FY27 guidance range of $8.70–$9.00 EPS. With the S&P 500 navigating renewed US-Iran geopolitical tensions and a mid-week chip selloff triggered by Samsung's disappointing AI spending signals, NetApp's positioning as an enterprise AI storage and hybrid cloud infrastructure provider — rather than a pure semiconductor play — appears to be drawing renewed investor attention. Goldman Sachs maintained a Buy with a $200 price target, and Argus recently raised its target to $200, while the stock also approaches its July 10 ex-dividend date for a $0.52 quarterly payout.

3.8271

July 9, 2026NetApp closed essentially flat amid a broader risk-off session driven by escalating U.S.-Iran tensions and a semiconductor sector selloff sparked by Samsung's earnings. While storage and memory peers like Seagate and Western Digital fell sharply on Tuesday, NetApp proved more resilient, buoyed by lingering investor enthusiasm from its strong FY2026 results and upbeat FY2027 guidance issued in late May — including AI-driven all-flash storage demand and a new Nutanix partnership. Analysts hold a consensus Hold rating with an average target of $169.33, and the stock's July 10 dividend record date adds a near-term income catalyst.

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Seeking Alpha · July 17, 2026NetApp sees largely positive views at Susquehanna heading into H2TechTarget · July 17, 2026NetAppDataPelago deal ups AI data management anteTipRanks · July 17, 2026NetApp Earns Buy Rating as AI-Driven Storage Capabilities Support Agentic Workloads; $200 Price Target ReaffirmedInvestor's Business Daily · July 17, 2026NetApp Stock Pauses After Earnings; Support At 10-Week Line Could Provide EntryBlocks & Files · July 17, 2026NetApp buys DataPelago to become full-stack AI data infrastructure providerSimply Wall Street · July 17, 2026NetApp (NTAP) Could Be 17% Overvalued After Its Latest Proxy FilingHPCwire · July 16, 2026NetApp Acquires DataPelago, Making Data AI-Ready at the Infrastructure LayerAd Hoc News · July 16, 2026NTAP stock holds support as NetApp extends buybacks
Benzinga · July 16, 2026NetApp Acquires AI Data Infrastructure Company DataPelago; Financial Terms Undisclosed
Mt Newswire · July 16, 2026Correction: NetApp, Oracle Launch New Storage Service
Mt Newswire · July 16, 2026JPMorgan Adjusts Price Target on NetApp to $175 From $150, Maintains Neutral Rating
Mt Newswire · July 15, 2026NetApp, Oracle Launch New Storage Service
Benzinga · July 15, 2026NetApp and Oracle Launch OCI-Native Managed Storage Service To Simplify Enterprise And AI Workloads
Mt Newswire · July 1, 2026Daiwa Securities Adjusts Price Target on NetApp to $180 From $117, Maintains Outperform Rating
Mt Newswire · June 22, 2026CGI, NetApp Expand Partnership to Deliver Enterprise Data, Storage Services
Benzinga · June 22, 2026CGI And NetApp Announce That NTAP's Keystone Will Power CGI's Block Storage Solutions Within Its Shared Services Platform

Peers

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