Netapp Inc Dossier
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SectorInformation Technology IndustrySoftware - Infrastructure Beta (adjusted)1.30 Intrinsic Value $126.22median of 6 methods · middle span $103-$205based on filings through 31 Jul 2026 Market Price $215.05Price as of 1 Oct 2026 OvervaluedIntrinsic value is 41% below the market price −50% · IV below pricenear fair value ±15%IV above price · +50% Data confidence Sign in to view data confidence Market Cap $42.2B Enterprise Value $43.2B Shares Outstanding 198M diluted Moat Rating Wide Next Earnings Date19 Nov 2026 Last ex-dividend10 Jul 2026 All prices and values are periodic snapshots, not live quotes. Source dates are shown for reference. ThesisStreet consensus, scenarios, merits, risks, and invalidation triggers Thesis Summary NetApp enters fiscal 2027 with strong operating momentum: fiscal 2026 revenue reached $6.925 billion, fourth-quarter revenue rose 12% year over year, all-flash array revenue rose 18%, and Public Cloud revenue rose 11%. Management's fiscal 2027 revenue and margin guidance indicates continued expansion, while the DataPelago and JetStream acquisitions broaden the AI-data and cyber-resilience propositions. The balance is execution risk: Public Cloud grew only 3% for fiscal 2026, product and cloud markets remain competitive, and first-quarter fiscal 2027 results are due immediately after this research date. This section is the 12-month view: analyst targets and the probability-weighted scenarios built from them. The intrinsic value at the top of this page answers a different question: what the business is worth today. Street view · analyst 12-month targets Low · most bearish analyst$150.00 Mean target$180.13 High · most bullish analyst$210.00 Our research · scenarios, merits, risks, and invalidation triggersResearch as of 2 Sep 2026 Scenarios · 12-month scenario targets Bear CaseDownside scenario Fiscal 2027 revenue guidance is reduced, all-flash growth stalls, or operating-margin guidance falls below the initial range as technology spending, competition, component costs, tariffs, foreign exchange, or acquisition integration weigh on execution. Slower Public Cloud expansion would further weaken the platform-growth narrative. Base CaseCentral scenario NetApp delivers within its stated fiscal 2027 revenue range while maintaining non-GAAP operating margin near the guided range. All-flash remains the principal growth engine, Public Cloud expands more gradually, and the recent acquisitions contribute strategically before becoming material financial drivers. Bull CaseUpside scenario NetApp delivers toward or above the upper end of its fiscal 2027 revenue guidance, sustains positive all-flash and Public Cloud growth, and converts DataPelago's accelerated data-processing capabilities and JetStream's disaster-recovery technology into broader platform adoption. Gartner's 2026 recognition provides additional evidence of competitive positioning, although it does not guarantee commercial results. Key Investment Merits
Key Investment Risks
All scenarios are estimates and subject to change. Past performance is not indicative of future results. Quality Pillars MembersThis section is available to registered members. Create a free account or sign in to unlock the full breakdown. Explore this dossierValuationIntrinsic value, the six-method breakdown, peer medians, and your assumptions sandbox.Financial SnapshotRevenue, profitability, returns, balance sheet, dividends, and the filing-level detail.Qualitative AnalysisBusiness overview, strategic initiatives, and mergers, acquisitions & partnerships.Outlook & Key DatesForward estimates, reporting calendar, and the monitoring framework. |