NetApp (NTAP)
NASDAQInformation TechnologyComputer HardwareSnapshot 2026-11-04
$187.67-1.63%
Close 2026-11-04 · 1-day change
NASDAQInformation TechnologyComputer HardwareSnapshot 2026-11-04
QuarterlyIQ Insights · NTAP
What must go right, what could break, what the price assumes, and what evidence comes next.
The current health of the standing investment case.
Recent financial performance is holding in the top half of its industry — the reason to own it looks intact.
One-year growth currently built into the price, compared with our model's estimate.
| Measure | Marker shape | Value |
|---|---|---|
| Growth built into the price | circle | 18.9% |
| Our one-year growth estimate | diamond | 16.1% |
For each item: what to watch, what would become a concern, and what would make it less concerning.
A reporting-risk estimate, not a forecast of the stock-price response.
Historical relationships that met the evidence threshold. They do not prove cause or forecast a move.
Usually moved in the same direction.
Price observations: 365 days
Most sensitive to the broad stock market.
Based on historical daily prices through 2026-11-04.
Past price behavior in dollars on a $10,000 position. This does not measure permanent business risk.
How much price usually moves either way.
A larger daily loss that occurred about once in every 20 trading days.
Use the underlying financial and sector pages to investigate the cause.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Growth built into the price is above our model estimate.
The price assumes 2.9 percentage points more one-year growth.
The one-year revenue growth assumption on Valuation.
Model as of 2026-11-04 · Compared with 5 industry peers
NTAP — capital allocation — Material Modification to Rights of Security Holders
Dated 2026-09-11
Material Modification to Rights of Security Holders. (a) To the extent applicable, the information set forth under
Why it matters: Public Cloud revenue grew 28% in Q1 FY27, faster than its 11% growth in Q4 FY26. A sharp slowdown would weaken this growth signal.
Worry ifPublic Cloud revenue grows less than 10% year over year in the next earnings report.
Less concerning ifPublic Cloud revenue grows at least 20% year over year in the next earnings report.
Why it matters: NetApp raised its full-year outlook after a strong first quarter. Q2 revenue above the midpoint would support that growth pace.
Supportive ifAt the December 1 earnings report, Q2 FY27 revenue is above $2.10 billion, the midpoint of guidance.
Worry ifQ2 FY27 revenue is below $2.025 billion, the low end of guidance, or the company cuts its FY27 revenue range.
Why it matters: NetApp has named strong margins as a priority. A margin above the Q2 guidance range would show it can pair growth with cost control.
Supportive ifQ2 FY27 non-GAAP operating margin is above 31.9%, the top of guidance.
Worry ifQ2 FY27 non-GAAP operating margin is below 30.9%, the bottom of guidance.
Why it matters: All-flash revenue rose 47% in Q1 FY27. Continued growth would support the company's AI and storage demand story.
Supportive ifThe next earnings report shows all-flash array revenue up more than 20% year over year.
Worry ifThe next earnings report shows all-flash array revenue flat or down year over year.
We watch for confirming and disproving signals on each item. Resolutions are found automatically where possible and checked by hand for unclear cases. Last 90 days shown.
Deepest peak-to-trough drop in the last year.
| Measure | Value | Meaning |
|---|---|---|
| Typical day | ±$187 on $10,000 · ±1.9% | How much price usually moves either way. |
| Bad day | $382 loss on $10,000 · 3.8% | A larger daily loss that occurred about once in every 20 trading days. |
| Largest peak-to-trough drop in the past year | $2,254 loss on $10,000 · 22.5% | Deepest peak-to-trough drop in the last year. |
Past year. 1.00 means similar movement; 1.20 means about 20% more.
Past year. 1.00 means similar movement to the sector. This is secondary context.
Latest 30 trading days, shown as an annual percentage.
Latest 252 trading days, shown as an annual percentage.
20-trading-day average in US dollars.
Trading days used by the source risk snapshot.
Past results, not a forecast. Not investment advice.
Why it matters: NetApp's latest revenue grew 30% year over year. The sector is still growing, but its growth trend is easing.
Worry ifNetApp's reported revenue growth falls below 5% year over year for two straight quarters.
Less concerning ifNetApp's revenue grows at least 10% year over year in each of the next two quarters.