NetApp, Inc. research snapshot
NTAP AI stock analysis reads NetApp, Inc. as a profitable enterprise data infrastructure company benefiting from all-flash storage, hybrid cloud, and AI data workflows. The page uses scenario analysis, not a certain price prediction. At the August 2, 2026 cutoff, NTAP closed at $178.50 on July 31, 2026 with a market capitalization near $35.03 billion. Fiscal 2026 net revenue reached $6.93 billion up 5%, GAAP net income rose 8% to $1.28 billion, free cash flow grew 40% to $1.87 billion, and FY2027 guidance points to revenue of $7.325 billion to $7.575 billion with non-GAAP EPS of $8.70 to $9.00. The stock trades near 28.1x trailing EPS and 20.1x forward EPS after a 70% 52-week run, so the key question is whether AI storage demand can sustain growth without paying too much for a mature infrastructure business. This is informational research and not investment advice.
Current price
$178.50
Market cap
$35.03 billion
AI score
74 / 100
Rating
High quality data infrastructure compounder with full valuation and a strong but extended technical trend
Trend status
Uptrend after record FY2026, price above the 50-day and 200-day moving averages
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | NetApp sells enterprise storage systems, ONTAP data management software, support, and cloud storage services for mission-critical data workloads across Hybrid Cloud and Public Cloud segments. | High |
| Moat | The moat comes from switching costs, ONTAP installed base, enterprise trust, partner integrations with major clouds, all-flash execution, and data management workflows that are hard to replace. | Medium-high |
| Management | George Kurian has led NetApp since 2015. FY2026 showed disciplined capital returns with $1.36 billion returned to stockholders through buybacks and dividends. | Medium-high |
| Financial trend | FY2026 revenue rose 5% to $6.93 billion, GAAP net income rose 8% to $1.28 billion, GAAP EPS rose 12% to $6.35, non-GAAP EPS rose 12% to $8.13, and free cash flow rose 40% to $1.87 billion. | High |
| Valuation | At $178.50, the stock screens near 28.1x trailing GAAP EPS, 20.1x forward EPS, and 18.7x free cash flow, so safety margin depends on continued growth and multiple discipline. | Medium-high |
| Technical trend | Price closed above the referenced 50-day moving average near $161.46 and the 200-day moving average near $120.99, with 14-day RSI near 65 and a strong buy technical rating from TradingView. | Medium |
| Risk level | Key risks are storage cycle weakness, hyperscaler bargaining power, NAND cost swings, public cloud execution, an extended valuation after a 70% 52-week run, and any AI demand disappointment. | Medium-high |
| AI confidence | High confidence for historical financials, quote math, and valuation ratios. Medium confidence for technical levels and low confidence for any single price outcome. | High data confidence |
| Investment certainty | Medium certainty because the business is proven, but the current price already reflects better AI and all-flash storage expectations plus a premium multiple. | Medium |
NTAP AI stock forecast
The NTAP AI stock forecast uses audited FY2026 EPS, the $178.50 close, and scenario math rather than a point target. Bullish, base, and bearish cases depend on whether NetApp can convert AI data growth into durable revenue, margins, and free cash flow without paying too much for the current multiple.
$225 to $240
More likely if FY2027 revenue tracks toward the high end of the $7.325 billion to $7.575 billion guidance, all-flash and Public Cloud revenue keep growing, AI storage attach rates hold, and investors keep a premium multiple near 26x on continued EPS growth.
$165 to $180
More likely if growth moderates toward a mid-single-digit path, free cash flow stays strong, and the stock trades near a 22x earnings multiple on EPS growth of about 7% over three years, roughly consistent with the consensus price target near $177.
$90 to $105
More likely if enterprise storage demand slows, AI storage attach rates disappoint, NAND cost pressure reduces margins, or the market compresses NTAP toward a mature infrastructure multiple near 15x.
NTAP AI technical analysis
NTAP AI technical analysis starts from the $178.50 close on July 31, 2026. The stock closed above its referenced 50-day moving average near $161.46 and 200-day moving average near $120.99, with 14-day RSI near 65. This static page does not fetch request-time chart data, so support, resistance, volume, and momentum should be reconfirmed before trading.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $178.50 | July 31, 2026 closing price used for this static page, up 2.60% on the day. |
| Near support | $170 to $175 | Planning zone below the close and above the referenced 50-day average. Treat it as a risk zone, not a guaranteed floor. |
| Deeper support | $155 to $165 | The 50-day moving average near $161.46 and prior consolidation levels form a deeper pullback reference. |
| Near resistance | $180 to $185 | The upper end of the recent trading range and the area below the May all-time high. |
| Major resistance | $192.83 | The May 29, 2026 all-time high is the key upside reference; a close above it would confirm a breakout. |
| 50-day moving average | About $161.46 | StockAnalysis.com referenced this 50-day moving average as of the August 2, 2026 research pass. |
| 200-day moving average | About $120.99 | StockAnalysis.com referenced this 200-day moving average as of the August 2, 2026 research pass. |
| Momentum | Strong buy technical rating, RSI near 65 | TradingView rated NTAP a strong buy technically while StockAnalysis showed 14-day RSI near 65, constructive but no longer deeply oversold. |
| Volume | 20-day average near 2.48 million shares | StockAnalysis.com showed an average 20-day volume of about 2.48 million shares, a liquidity reference for judging breakout sponsorship. |
| Volatility | Beta 1.45, 52-week range $93.69 to $192.83 | StockAnalysis.com showed a beta of 1.45, so NTAP has moved with more than market volatility during the 70% 52-week run. |
| Invalidation | Close below $161 | A decisive close below the 50-day moving average near $161 would weaken the short-term setup and force a new chart review. |
NTAP AI trading strategy
The NTAP AI trading strategy is a rules-based framework for research. It is not personalized advice and should be paired with position sizing, stop levels, earnings dates, and live chart confirmation.
Wait for NTAP to hold above the $170 to $175 support zone and break through $180 to $185, then the May high near $192.83, with volume that confirms buyer demand.
A close below $161 or a failed breakout back under the 50-day average near $161.46 should invalidate the setup.
If NTAP pulls back toward the $155 to $165 zone without a downgrade in FY2027 guidance, compare price action with cash flow, all-flash demand, Public Cloud revenue, and AI storage evidence.
Do not average down without a maximum loss, a fresh review of earnings quality, and a check that the business thesis has not changed.
Track FY2027 revenue guidance, non-GAAP EPS guidance, all-flash array net revenue, Public Cloud net revenue, billings, free cash flow, and share repurchase pace.
Reduce confidence if price rises faster than revisions to revenue, margins, or free cash flow after a 70% 52-week advance.
Investment research summary
Customers pay NetApp to store, manage, protect, and move enterprise data across on-premises systems and public clouds with less operational risk and higher performance for AI and analytics workloads.
The moat is strongest in switching costs, ONTAP workflows, enterprise support relationships, all-flash execution, and cloud partner integration. It is weaker in pure hardware pricing power.
The thesis can fail if AI storage demand is overestimated, public cloud partners capture more value, NAND costs pressure margins, or customers delay infrastructure projects after a period of heavy AI spending.
George Kurian has led the company since 2015. FY2026 capital allocation favored $1.36 billion of shareholder returns while maintaining product investment in AI data infrastructure and cloud storage.
AI workloads increase data volume and performance needs, which supports all-flash and data infrastructure demand, but enterprise infrastructure budgets remain cyclical and competitive.
At about 28.1x trailing GAAP EPS and 20.1x forward EPS, NTAP needs continued growth and cash flow durability to justify the price after a 70% 52-week advance. Margin of safety improves only if execution continues or the stock pulls back.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| NTAP price | $178.50 at the July 31, 2026 close | StockAnalysis.com and TradingView quote snapshots | August 2, 2026 |
| Market capitalization | $35.03 billion, verified as $178.50 x 196.23 million shares with 0.13% deviation | financial_rigor.py market cap verification and StockAnalysis.com | August 2, 2026 |
| FY2026 net revenue | $6.925 billion, up 5% year over year | NetApp FY2026 results and SEC companyfacts | August 2, 2026 |
| FY2026 GAAP net income | $1.276 billion, up 8% year over year | NetApp FY2026 results and SEC companyfacts | August 2, 2026 |
| FY2026 free cash flow | $1.869 billion, up 40% year over year | NetApp FY2026 results | August 2, 2026 |
| Cash and debt | $3.584 billion cash and short-term investments and $2.487 billion long-term debt at April 24, 2026 | NetApp FY2026 results and SEC companyfacts | August 2, 2026 |
| FY2026 diluted EPS | $6.35 GAAP EPS and $8.13 non-GAAP EPS | NetApp FY2026 results and SEC companyfacts | August 2, 2026 |
| FY2027 company outlook | $7.325 billion to $7.575 billion revenue and $8.70 to $9.00 non-GAAP EPS | NetApp FY2026 results | August 2, 2026 |
| Q4 FY2026 all-flash and Public Cloud | Record all-flash array net revenue of $1.2 billion, up 18%, and Public Cloud net revenue of $182 million, up 11% | NetApp FY2026 results | August 2, 2026 |
| Valuation ratios | 28.11x trailing PE, 20.05x forward PE, 5.06x sales, 18.74x price to free cash flow, and a 1.17% dividend yield | StockAnalysis.com statistics | August 2, 2026 |
| Shares outstanding | 196.23 million shares, down 3.83% year over year and 0.50% quarter over quarter | StockAnalysis.com statistics and SEC companyfacts | August 2, 2026 |
| Technical indicators | 50-day moving average $161.46, 200-day moving average $120.99, 14-day RSI 64.67, beta 1.45, and 20-day average volume 2.48 million | StockAnalysis.com statistics | August 2, 2026 |
| Analyst consensus | Buy rating with an average price target of $177.25 across 20 analysts, low $137 and high $200, median $180 | StockAnalysis.com forecast and analyst ratings | August 2, 2026 |
| Analyst rating mix, July 2026 | 6 Strong Buy, 2 Buy, 11 Hold, 0 Sell, and 1 Strong Sell out of 20 analysts | StockAnalysis.com forecast recommendation trends | August 2, 2026 |
| Recent analyst target updates | Goldman Sachs $200 Buy, Barclays $199 Buy, J.P. Morgan $175 Hold, and BofA raised to $180 from $150 | StockAnalysis.com forecast latest forecasts | August 2, 2026 |
| 52-week range and beta | 52-week range of $93.69 to $192.83 and a beta of 1.45, with the all-time high reached on May 29, 2026 | StockAnalysis.com and TradingView | August 2, 2026 |
This NTAP AI stock analysis page is an informational tool only and is not investment advice, a recommendation, or a promise of future returns. Forecast ranges are scenarios based on available data as of August 2, 2026 and can be wrong.
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