NTAP · NASDAQ · STOCK
NetApp (NTAP) Stock Analysis
$204.23
52W $93.69 – $209.06
62/100
$40.64B
32.2
1.43
Is NTAP Bullish or Bearish?
Bullish.
Innellis AI committee rates NetApp (NTAP) Buy with a composite score of 62/100
, based on 6 analysts with 67% agreement.
Last updated August 17, 2026.
What Would Change This View
- Upgrade to Strong Buy
- Requires a committee score of 75.0 — +13.32 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Watch
- Requires the score to fall below 55.0 — -6.68 from today. The band boundary is 60.0, 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 primary driver is vix regime is low -- calm backdrop supports risk-taking. The main limiting factor is p/e of 31.1 is moderate-to-rich. The committee is constructive but not yet at full conviction.
Bull & Bear Case
Bull Case
- ROE of 114.2% shows genuine earnings power backing the valuation — Value
- 3 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- Price structure making higher highs and higher lows — Technical
- MACD histogram positive -- bullish momentum — Technical
- Weekly trend (uptrend) confirms the daily trend -- multi-timeframe agreement — Technical
Bear Case
- P/E of 31.1 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
- RSI at 84 is in overbought territory — Technical
- Weekly RSI at 85 -- overbought on the larger timeframe too — Technical
- High leverage (debt-to-equity 1.84) amplifies downside in a stress scenario — Risk
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 August 17, 2026
Overall Committee Score
62/100
Agreement
67%
Analysts
6
Conviction
Moderate
Sector Rank
Top 39%
of 284 Technology peers
Value Analyst
neutral
45
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 114.2% shows genuine earnings power backing the valuation
− P/E of 31.1 is moderate-to-rich
Growth Analyst
bullish
68
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ 3 consecutive earnings beats -- consistent execution
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 84 is in overbought territory
Risk Analyst
neutral
45
/ 100 · Moderate confidence
Moderate risk -- no single red flag, but nothing that clearly de-risks the position either
− High leverage (debt-to-equity 1.84) amplifies downside in a stress scenario
Macro Analyst
bullish
80
/ 100 · Low confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
+ VIX regime is low -- calm backdrop supports risk-taking
News Analyst
bullish
70
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
+ News sentiment is positive (+0.40 across 37 articles, 14d)
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 2963.04)
Investment Thesis Evolution
Committee score moved marginally from 61.7 to 61.7.
- New bearish signals: 1 appeared.
- Bearish pressure eased: 1 signal(s) disappeared.
Analyst-level changes:
- Portfolio Manager: +1 bearish signal(s).
Comparing 2026-08-16 to 2026-08-17 (1 day apart).
Technical Analysis
RSI (14)
84.2
Overbought
MACD Histogram
2.222
Bullish Momentum
Trend Direction
Uptrend
Weekly: Uptrend
Market Structure
Mixed
Bollinger %B
0.92
Inside Bands
Price vs Moving Averages
EMA 9
$196.70
Above
EMA 21
$185.71
Above
EMA 50
$169.95
Above
EMA 200
$135.31
Above
Fundamental Analysis
Valuation
10
Growth
79
Profitability
98
Financial Health
38
Cash Flow
70
Valuation
P/E Ratio
32.2×
P/B Ratio
30.20×
PEG Ratio
3.02
Dividend Yield
1.00%
52W High
$209.06
52W Low
$93.69
Quality & Growth
ROE
9444.9%
ROA
1187.6%
Gross Margin
7074.4%
Operating Margin
2411.6%
Revenue Growth YoY
—
Debt / Equity
2.02
AI Fundamental Assessment
P/E ratio of 32.2 (rich relative to a 15-40x range); Price-to-book of 30.2x; PEG ratio of 3.0 (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 18.4%; Gross margin of 70.7%; Current ratio of 1.44 (tight short-term liquidity); Debt-to-equity of 2.02; Free cash flow per share is positive (9.49); Most recent quarter beat estimates by 5.1%; 3 consecutive earnings beats; EPS growth accelerating (+3.4% -> +14.6% QoQ); Analyst estimates rising over recent quarters
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