NetApp Inc. stock gains after strong Q1 FY27 results and raised guidance

Published on 09/10/2026 at 21:06 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NetApp Inc. stock opened at USD 184.74 on September 9, 2026 after reporting Q1 fiscal 2027 revenue of USD 2.03 billion, up 30 percent year on year. The company also raised full-year revenue guidance to as much as USD 8.23 billion, supporting the move.

Moderner Serverraum mit Technikern zwischen beleuchteten Rechnerschränken in Rechenzentrum — Fotorealistisches Rechenzentrum symbolisiert NetApp Inc., ISIN US64120B1098, führend in Datenspeicherung und Cloud-Infrastruktur weltweit, Illustration mit AI erstellt.

NetApp Inc. stock (ISIN US64120B1098) traded around USD 184.74 on Nasdaq on September 9, 2026 as investors digested a strong first quarter of fiscal 2027 with double-digit revenue growth and sharply higher earnings per share.

Q1 FY27 results show 30 percent revenue growth

According to Zawya on September 10, 2026, NetApp reported first quarter fiscal 2027 revenue of USD 2,025 million, up 30 percent from USD 1,559 million in Q1 FY26.

In the same report, GAAP net income for Q1 FY27 reached USD 375 million compared with USD 233 million a year earlier, an increase of 61 percent that underlines the operating leverage in the business, while GAAP earnings per share rose to USD 1.88 from USD 1.15, a 63 percent jump.Zawya

The release highlights that NetApp generated USD 2,057 million in non-GAAP billings in Q1 FY27 versus USD 1,511 million in Q1 FY26, a 36 percent increase, pointing to robust demand for the company's intelligent data infrastructure solutions across hybrid and public cloud segments.Zawya

Segment mix and margins underpin guidance

As detailed by Zawya, hybrid cloud segment revenue in Q1 FY27 was USD 1,819 million compared with USD 1,398 million in Q1 FY26, a 30 percent increase, while public cloud segment revenue rose to USD 206 million from USD 161 million, up 28 percent year on year.

First quarter FY27 gross profit reached USD 1,419 million versus USD 1,098 million a year earlier, a gain of 29 percent, and this helped the company deliver a non-GAAP net income margin close to 19 percent, illustrating that higher volumes are translating into improved profitability.Zawya

According to Zawya, NetApp now guides fiscal 2027 net revenues to a range of USD 7,975 million to USD 8,225 million, compared with its historical revenue in fiscal 2026, implying mid to high single-digit growth on top of the strong start to the year and giving investors more visibility on the earnings trajectory.

Dividend decision at the annual meeting supports returns

Dividend policy remains a key component of the NetApp Inc. stock story for income-focused investors.

As finanzen.ch reported on September 10, 2026, shareholders at the annual meeting on September 9, 2026 approved a dividend payment of USD 2.08 per share for the year 2026, unchanged from the prior year, highlighting the company's aim to offer a consistent cash return profile.

In the same coverage, finanzen.ch noted that NetApp shares closed at USD 184.74 on Nasdaq on September 9, 2026, and this level underpins a dividend yield based on the new USD 2.08 distribution that remains competitive against broader technology peers while leaving room for reinvestment in growth.finanzen.ch

Analyst estimates and rating context

Beyond the reported figures, analyst expectations have also moved in NetApp's favor.

According to MarketBeat on September 10, 2026, Northland Securities raised its earnings estimates for NetApp and currently rates the stock Outperform with a price target of USD 187.00, while data compiled by MarketBeat show an average rating of Hold and a consensus price target of USD 192.07.

The same MarketBeat note states that NetApp shares opened at USD 184.74 on September 10, 2026 on Nasdaq, leaving roughly USD 7.33 upside to the Northland Securities target and USD 7.33 to USD 192.07 consensus, which investors may weigh against the company's execution on its raised revenue guidance.MarketBeat

Separately, Zacks highlighted on September 10, 2026 that NetApp currently carries a Zacks Rank #2 (Buy), with expected sales growth of 18.6 percent for fiscal 2027, signalling that, in Zacks' view, the company combines attractive top line prospects with a favorable risk-reward profile.

Risks to monitor alongside the growth story

While the recent quarter and guidance underpin a constructive narrative for NetApp Inc. stock, investors also need to monitor risks.

The Q1 FY27 release cited by Zawya shows that net cash provided by operating activities in Q1 FY27 was USD 503 million, down from USD 673 million in Q1 FY26, a decline of 25 percent, which may prompt questions about working capital trends and cash conversion even as earnings and revenue grow.

Competitive dynamics in hybrid and public cloud storage also represent a structural risk, as major hyperscale providers and other infrastructure vendors continue to invest heavily; however, Zacks' expectation of 18.6 percent sales growth for fiscal 2027 indicates that NetApp is currently navigating this landscape successfully.Zacks

NetApp Inc. stock price context as of September 9, 2026

Per data cited by finanzen.ch, NetApp Inc. stock closed at USD 184.74 on Nasdaq on September 9, 2026, following the Q1 FY27 results and the annual meeting's dividend decision, with that closing level serving as the current reference price for investors assessing valuation and upside versus analyst targets.