NTAPNetApp, Inc.
NetApp, Inc. sells storage systems, data management software, and cloud services, positioning itself at the intersection of enterprise data infrastructure and AI-driven operations. The next catalyst is Oct 14, 2026 — NetApp INSIGHT 2026 & Ecosystem Partnerships, which will test the company’s ability to scale its AI integration and deepen partnerships with cloud providers like Google Cloud.
- Revenue hit $7.00B in 2026, with net income of $1.25B and free cash flow of $2.69B (TTM).
- Net margin expanded to 17.8% (TTM), with debt-to-equity at 1.84x.
- Shareholders’ equity stands at $1.35B, with diluted EPS of $1.88.
The Read
4% on accelerating billings and margin expansion from AI demand and cyber-resilience deals, and surged about 5.
The schedule
- Wed14Oct
NetApp INSIGHT 2026 & Ecosystem Partnerships
- Thu28Jan
Q1 2027 Earnings Release
- Thu25Feb
Enterprise IT Spending Revisions
- Thu29Apr
- Thu29Jul
- Thu28Oct
Past
- Tue25Aug
Industry Flash Storage & AI Infrastructure Demand Pulse
- Thu16Jul
Actual outcome: Bull · $204.20 at outcome
NetApp (NTAP) announced the acquisition of DataPelago, an AI data infrastructure company, to enhance its AI capabilities and expand its portfolio. This strategic move positions NTAP to capitalize on the growing demand for AI infrastructure, which is a key driver of the stock's significant upward move. The acquisition strengthens NTAP's position in the AI market and supports its long-term growth strategy. [Market retrospective · Long-Term (31–75 days)] Missed anticipation: +79.3% from 2026-04-20 to 2026-08-17 (~3.5σ vs typical 75d vol). Target evaluation date 2026-09-29 (not yet reached as of 2026-08-17). Confidence 95%.
NetApp (NTAP) announced the acquisition of DataPelago, an AI data infrastructure company, to enhance its AI capabilities and expand its portfolio. This strategic move positions NTAP to capitalize on the growing demand for AI infrastructure, which is a key driver of the stock's significant upward move. The acquisition strengthens NTAP's position in the AI market and supports its long-term growth strategy. [Market retrospective · Long-Term (31–75 days)] Missed anticipation: +79.3% from 2026-04-20 to 2026-08-17 (~3.5σ vs typical 75d vol). Target evaluation date 2026-09-29 (not yet reached as of 2026-08-17). Confidence 95%.
- Thu28May
Actual outcome: Bull · $190.46 at outcome
NetApp reported record fourth-quarter fiscal 2026 financial results, posting quarterly revenue of $1.95 billion (up 12% year-over-year) and non-GAAP EPS of $2.43, both exceeding analyst estimates. The outperformance was fueled by surging enterprise demand for artificial intelligence storage infrastructure, public cloud integrations, and all-flash arrays. Management also raised its fiscal 2027 revenue and earnings guidance, sparking a major multi-week rally. [Market retrospective · Long-Term (31–75 days)] Missed anticipation: +80.5% from 2026-04-14 to 2026-08-04 (~3.6σ vs typical 75d vol). Target date 2026-07-10 reached; move through 2026-08-04 observed. Confidence 95%.
NetApp reported record fourth-quarter fiscal 2026 financial results, posting quarterly revenue of $1.95 billion (up 12% year-over-year) and non-GAAP EPS of $2.43, both exceeding analyst estimates. The outperformance was fueled by surging enterprise demand for artificial intelligence storage infrastructure, public cloud integrations, and all-flash arrays. Management also raised its fiscal 2027 revenue and earnings guidance, sparking a major multi-week rally. [Market retrospective · Long-Term (31–75 days)] Missed anticipation: +80.5% from 2026-04-14 to 2026-08-04 (~3.6σ vs typical 75d vol). Target date 2026-07-10 reached; move through 2026-08-04 observed. Confidence 95%.
- Thu30Apr
Actual outcome: Bull · $112.08 at outcome
NetApp met EPS expectations at $1.69, but the stock cleared the bull target as investors focused on the company's strategic pivot toward AI and cloud infrastructure. The rally was driven by significant developments in its Google Cloud partnership, including the adoption of Gemini Enterprise and being named Google Cloud Infrastructure Modernization Partner of the Year, which reinforced confidence in NetApp's role in AI-driven data management.
- Mon30Mar
Actual outcome: Bull · $103.35 at outcome
NetApp reported accelerating billings growth of 10% and expanded gross margins to 71.2%, driven by robust AI-related infrastructure demand and new cyber-resilience partnerships with Commvault and Elastio. These strong operational results and improved profitability metrics aligned with the bull case, supporting the stock's valuation near the bull target despite broader industry concerns regarding memory shortages.
- Thu26Feb
Actual outcome: Mixed · $100.15 at outcome
NetApp delivered strong fiscal Q3 2026 results, reporting non-GAAP EPS of $2.12 that beat estimates alongside a 4% year-over-year revenue increase to $1.71 billion. The top- and bottom-line beats were driven by robust demand for AI-ready infrastructure and record all-flash storage sales, complemented by healthy free cash flow supporting shareholder returns. While the initial post-earnings price reaction was a modest 1% gain, this solid fundamental execution and accelerating growth ultimately propelled the stock well past the bull target in the subsequent months.
