NTAP · NASDAQ · STOCK
NetApp (NTAP) Stock Analysis
$237.22
52W $93.69 – $238.08
54/100
$46.54B
33.0
1.45
Is NTAP Bullish or Bearish?
Mixed.
Innellis AI committee rates NetApp (NTAP) Watch with a composite score of 54/100
, based on 6 analysts with 50% agreement.
Last updated October 10, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +6.14 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -13.86 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Growth Analyst sees a compelling case — eps growing 25.2% yoy. Portfolio Manager remains cautious — sector concentration is already high (hhi 2796.97). This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- ROE of 113.7% shows genuine earnings power backing the valuation — Value
- Dividend yield of 2.6% pays you to wait — Value
- EPS growing 25.2% YoY — Growth
- 4 consecutive earnings beats -- consistent execution — Growth
- Price structure making higher highs and higher lows — Technical
- MACD histogram positive -- bullish momentum — Technical
Bear Case
- P/E of 31.9 is moderate-to-rich — Value
- Price-to-book of 15.9x prices in significant intangible value — Value
- Debt-to-equity of 1.84 adds balance-sheet risk to the value case — Value
- Growth rate is decelerating quarter over quarter -- the trend line matters more than the level — Growth
- RSI at 79 is in overbought territory — Technical
- Weekly RSI at 83 -- overbought on the larger timeframe too — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of October 10, 2026
Overall Committee Score
54/100
Agreement
50%
Analysts
6
Conviction
Contested
Sector Rank
Top 82%
of 287 Technology peers
Value Analyst
neutral
45
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 113.7% shows genuine earnings power backing the valuation
− P/E of 31.9 is moderate-to-rich
Growth Analyst
bullish
66
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ EPS growing 25.2% YoY
− Growth rate is decelerating quarter over quarter -- the trend line matters more than the level
Technical Analyst
bullish
61
/ 100 · High confidence
Price action is constructive -- trend and momentum agree
+ Price structure making higher highs and higher lows
− RSI at 79 is in overbought territory
Risk Analyst
bearish
32
/ 100 · Moderate confidence
Elevated risk from leverage, volatility, event exposure, or portfolio concentration -- size accordingly
− High leverage (debt-to-equity 1.84) amplifies downside in a stress scenario
Macro Analyst
bullish
65
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
News Analyst
neutral
53
/ 100 · Low confidence
News flow is mixed or quiet -- no strong signal either way right now
Portfolio Manager
bearish
30
/ 100 · Moderate confidence
The existing book itself argues for caution here, independent of how good this specific stock looks
− Sector concentration is already high (HHI 2796.97)
Investment Thesis Evolution
Committee score moved marginally from 53.5 to 53.9.
- New bearish signals: 4 appeared.
- Bearish pressure eased: 5 signal(s) disappeared.
Analyst-level changes:
- Risk Analyst: +1 bearish signal(s).
- Technical Analyst: +2 bearish signal(s).
- Value Analyst: +1 bearish signal(s).
Comparing 2026-10-09 to 2026-10-10 (1 day apart).
Technical Analysis
RSI (14)
78.7
Overbought
MACD Histogram
3.082
Bullish Momentum
Trend Direction
Uptrend
Weekly: Uptrend
Market Structure
Hh Hl
Bollinger %B
0.94
Inside Bands
Price vs Moving Averages
EMA 9
$224.79
Above
EMA 21
$212.63
Above
EMA 50
$197.82
Above
EMA 200
$156.48
Above
Fundamental Analysis
Valuation
37
Growth
76
Profitability
99
Financial Health
39
Cash Flow
70
Valuation
P/E Ratio
33.0×
P/B Ratio
31.09×
PEG Ratio
1.35
Dividend Yield
0.88%
52W High
$238.08
52W Low
$93.69
Quality & Growth
ROE
9444.9%
ROA
1187.6%
Gross Margin
7062.6%
Operating Margin
2573.4%
Revenue Growth YoY
—
Debt / Equity
1.70
AI Fundamental Assessment
P/E ratio of 33.0 (rich relative to a 15-40x range); Price-to-book of 31.1x; PEG ratio of 1.4 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 94.4%; Return on assets of 11.9%; Net margin of 19.2%; Gross margin of 70.6%; Current ratio of 1.24 (tight short-term liquidity); Debt-to-equity of 1.69; Free cash flow per share is positive (8.42); Most recent quarter beat estimates by 19.3%; 4 consecutive earnings beats; EPS growth decelerating (+14.6% -> +6.2% QoQ); Average YoY EPS growth of 66.5%; Analyst estimates rising over recent quarters
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