NetApp, Inc. (NTAP) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does NetApp, Inc. Do?
NetApp, Inc. provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service. It provides data storage solutions comprising NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, NetApp SolidFire, and NetApp HCI; data protection solutions, such as NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and NetApp Data Availability Services; and data management solutions, including NetApp ONTAP Storage Management System, NetApp ElementOS software, NetApp SANtricity software, NetApp Active IQ Digital Advisor, OnCommand Insight, and OnCommand Workflow Automation. In addition, the company offers application-aware data management service under the NetApp Astra name; and payment solutions and storage-as-a-service under the NetApp Keystone name. Further, it provides assessment, design, consulting, and implementation services. The company serves the energy, financial service, government, technology, internet, life science, healthcare service, manufacturing, media, entertainment, animation, video postproduction, and telecommunication markets through a direct sales force and an ecosystem of partners. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California. NetApp, Inc. (NTAP) is classified as a large-cap stock in the Technology sector, specifically within the Computer Hardware industry. The company is led by CEO George Kurian and employs approximately 12,000 people, headquartered in Sunnyvale, California. With a market capitalization of $20.1B, NTAP is one of the prominent companies in the Technology sector.
NetApp, Inc. (NTAP) Stock Rating — Hold (April 2026)
As of April 2026, NetApp, Inc. receives a Hold rating with a composite score of 42.2/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.NTAP ranks #1,315 out of 4,446 stocks in our coverage universe. Within the Technology sector, NetApp, Inc. ranks #146 of 584 stocks, placing it in the top quartile of its Technology peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
NTAP Stock Price and 52-Week Range
NetApp, Inc. (NTAP) currently trades at $95.93. The stock gained $0.26 (0.3%) in the most recent trading session. The 52-week high for NTAP is $126.66, which means the stock is currently trading -24.3% from its annual peak. The 52-week low is $71.84, putting the stock 33.5% above its annual trough. Recent trading volume was 2.0M shares, reflecting moderate market activity.
Is NTAP Overvalued or Undervalued? — Valuation Analysis
NetApp, Inc. (NTAP) carries a value factor score of 48/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 16.45x, compared to the Technology sector average of 45.27x — a discount of 64%. The price-to-book ratio stands at 16.63x, versus the sector average of 3.16x. The price-to-sales ratio is 2.91x, compared to 1.06x for the average Technology stock. On an enterprise value basis, NTAP trades at 12.65x EV/EBITDA, versus 12.79x for the sector.
Overall, NTAP's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
NetApp, Inc. Profitability — ROE, Margins, and Quality Score
NetApp, Inc. (NTAP) earns a quality factor score of 50/100, indicating solid business quality with consistent operational execution. The return on equity (ROE) is 101.1%, compared to the Technology sector average of -1.4%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 11.7% versus the sector average of -1.0%.
On a margin basis, NetApp, Inc. reports gross margins of 70.7%, compared to 50.9% for the sector. The operating margin is 22.7% (sector: -0.5%). Net profit margin stands at 17.6%, versus -1.5% for the average Technology stock. Revenue growth is running at 3.3% on a trailing basis, compared to 14.2% for the sector. The overall profitability profile is adequate, though there may be room for margin expansion.
NTAP Debt, Balance Sheet, and Financial Health
NetApp, Inc. has a debt-to-equity ratio of 215.0%, compared to the Technology sector average of 43.0%. This elevated leverage warrants close monitoring, as it increases the company's sensitivity to rising interest rates and economic downturns. The current ratio is 1.39x, suggesting adequate working capital coverage. Total debt on the balance sheet is $2.49B.
NTAP has a beta of 1.30, meaning it is more volatile than the broader market — a $10,000 investment in NTAP would be expected to move 29.6% more than the S&P 500 on any given day. The stability factor score for NetApp, Inc. is 65/100, reflecting average volatility within the normal range for its sector.
NetApp, Inc. Revenue and Earnings History — Quarterly Trend
In TTM 2026, NetApp, Inc. reported revenue of $6.62B and earnings per share (EPS) of $1.69. Net income for the quarter was $1.17B. Gross margin was 70.7%. Operating income came in at $1.50B.
In Q3 2026, NetApp, Inc. reported revenue of $1.71B and earnings per share (EPS) of $1.69. Net income for the quarter was $334M. Gross margin was 70.6%. Revenue grew 4.4% year-over-year compared to Q3 2025. Operating income came in at $434M.
In Q2 2026, NetApp, Inc. reported revenue of $1.71B and earnings per share (EPS) of $1.53. Net income for the quarter was $305M. Gross margin was 72.0%. Revenue grew 2.8% year-over-year compared to Q2 2025. Operating income came in at $399M.
In Q1 2026, NetApp, Inc. reported revenue of $1.56B and earnings per share (EPS) of $1.16. Net income for the quarter was $233M. Gross margin was 70.4%. Revenue grew 1.2% year-over-year compared to Q1 2025. Operating income came in at $309M.
Over the past 8 quarters, NetApp, Inc. has demonstrated a growth trajectory, with revenue expanding from $1.54B to $6.62B. Investors analyzing NTAP stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
NTAP Dividend Yield and Income Analysis
NetApp, Inc. (NTAP) currently pays a dividend yield of 1.8%. At this yield, a $10,000 investment in NTAP stock would generate approximately $$178.00 in annual dividend income. With a net margin of 17.6%, the dividend appears well-covered by earnings, suggesting sustainable payouts going forward.
NTAP Momentum and Technical Analysis Profile
NetApp, Inc. (NTAP) has a momentum factor score of 40/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 32/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 4/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
NTAP vs Competitors — Technology Sector Ranking and Peer Comparison
Within the Technology sector, NetApp, Inc. (NTAP) ranks #146 out of 584 stocks based on the Blank Capital composite score. This places NTAP in the top quartile of all Technology stocks in our coverage universe. Key competitors and sector peers include IHS Holding Ltd (IHS) with a score of 55.0/100, VERISIGN INC/CA (VRSN) with a score of 56.0/100, ESCO TECHNOLOGIES INC (ESE) with a score of 51.7/100, CareCloud, Inc. (CCLD) with a score of 46.9/100, and MMTec, Inc. (MTC) with a score of 47.4/100.
Comparing NTAP against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full NTAP vs S&P 500 (SPY) comparison to assess how NetApp, Inc. stacks up against the broader market across all factor dimensions.
NTAP Next Earnings Date
No upcoming earnings date has been announced for NetApp, Inc. (NTAP) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy NTAP? — Investment Thesis Summary
NetApp, Inc. presents a balanced picture with arguments on both sides. Low volatility (stability score 65/100) reduces downside risk.
In summary, NetApp, Inc. (NTAP) earns a Hold rating with a composite score of 42.2/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on NTAP stock.
Related Resources for NTAP Investors
Explore more research and tools: NTAP vs S&P 500 comparison, top Technology stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare NTAP head-to-head with peers: NTAP vs IHS, NTAP vs VRSN, NTAP vs ESE.