NetApp stock slips 2.64 percent as analysts hold steady

NetApp Inc. stock (ISIN US64120B1098) traded at USD 192.92 on Nasdaq at 3:39 p.m. on September 22, 2026, down 2.64 percent from the prior close of USD 198.15. The price remained 7.72 percent below the 52-week high of USD 209.06, while the latest market value was USD 38.85 billion.

Quarterly growth supports the valuation

NetApp reported USD 2.02 billion in revenue for the first quarter of fiscal 2027, up 29.9 percent year over year, according to MarketBeat on September 22, 2026. Earnings per share reached USD 2.58 against a consensus estimate of USD 2.12, a USD 0.46 beat that provides the clearest quantified support for the recent earnings narrative.

Net income in Q1 FY27 reached USD 375 million, compared with USD 233 million in Q1 FY26, an increase of 61 percent, while GAAP earnings per share rose from USD 1.15 to USD 1.88, according to Zawya on September 10, 2026. The combination of 29.9 percent revenue growth and 61 percent net-income growth indicates that earnings expanded faster than sales during the reported quarter.

Hold consensus meets raised targets

Analyst sentiment remains balanced. MarketBeat reported on September 22, 2026 that 10 of 17 analysts rated the shares Hold, six rated them Buy and one issued a Strong Buy. The average one-year price target was USD 193.86, only USD 0.94 above the September 22 quotation.

The individual targets are higher than earlier levels but do not form a uniform bullish signal. Northland Securities raised its target from USD 171.00 to USD 187.00 and assigned an Outperform rating on September 3, 2026, while Susquehanna lifted its objective from USD 185.00 to USD 195.00 and kept a Neutral rating, according to MarketBeat. UBS also increased its price objective from USD 160.00 to USD 171.00 while retaining Neutral, showing that target revisions have not eliminated valuation caution.

Stock stays near yearly high

NetApp shares traded between USD 93.69 and USD 209.06 over the 52-week period ending September 22, 2026. At USD 192.92, the stock stood 105.93 percent above the low and 7.72 percent below the high, while volume was 425,850 shares and the price-to-earnings ratio was 27.45.

The market is therefore weighing two opposing figures: Q1 FY27 revenue growth of 29.9 percent and a valuation close to the upper end of the yearly range. NetApp's fiscal 2027 earnings guidance is USD 9.73 to USD 10.03 per share, while Q2 FY27 guidance is USD 2.54 to USD 2.64 per share, according to MarketBeat on September 22, 2026. Those ranges make execution against the raised outlook the central measurable test for the next reporting cycle.

NetApp stock closes at USD 192.92

NetApp stock was quoted at USD 192.92 on Nasdaq at 3:39 p.m. on September 22, 2026, down 2.64 percent from USD 198.15. The 52-week range was USD 93.69 to USD 209.06, and the market capitalization stood at USD 38.85 billion.

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