NetApp Inc. ($NTAP) Stock Forecast: Up 5.0% Today

What is NetApp Inc.?

NetApp (NTAP) is a leading provider of all-flash storage solutions in the IT hardware industry. Today, the stock experienced a strong bullish movement amidst contrasting analyst opinions and market dynamics.

Why is NetApp Inc. going up?

NTAP stock is up 5.0% on Feb 4, 2026 19:26

• NetApp (NTAP) was downgraded to Underweight by one analyst due to a 15-year low in IT hardware budget growth, raising cautionary factors despite AI tailwinds.
• On the other hand, another analyst initiated coverage with a Buy rating, emphasizing NetApp's position in the all-flash storage market and a favorable future outlook.
• The short interest in NetApp decreased by 12.3% and the National Pension Service increased its stake, indicating changing investor sentiments.
• The bullish movement in NetApp's stock today reflects a blend of analyst evaluations, market dynamics, and investor behaviors, illustrating the intricate nature of stock movements in response to diverse perspectives and data points.

NTAP Price Chart

NTAP Technical Analysis

NTAP News

Morgan Stanley Downgrades NetApp (NTAP) Due to 15-Year Low in IT Hardware Budget Growth

Morgan Stanley downgraded NetApp (NTAP) to Underweight from Equal Weight, lowering its price target to $89 due to a 15-year low in IT hardware budget growth indicated by a CIO survey. This more defensive stance on IT hardware comes despite AI tailwinds, citing a "perfect storm" of cautionary factors. Conversely, Goldman Sachs initiated coverage with a Buy rating and a $128 price target, projecting NetApp to maintain leadership in the expanding all-flash storage market.

https://finviz.com/news/299120/morgan-stanley-downgrades-netapp-ntap-due-to-15-year-low-in-it-hardware-budget-growth

Morgan Stanley Downgrades NetApp (NTAP) Due to 15-Year Low in IT Hardware Budget Growth

Morgan Stanley has downgraded NetApp (NTAP) from Equal Weight to Underweight, lowering its price target due to a CIO survey indicating the slowest IT hardware budget growth in 15 years. This contrasts with Goldman Sachs, which initiated coverage with a Buy rating, citing NetApp's leadership in the expanding all-flash storage market despite a modest growth projection for the broader external storage market. The article suggests that while NTAP has potential, other AI stocks may offer greater upside and less risk.

https://ca.finance.yahoo.com/news/morgan-stanley-downgrades-netapp-ntap-131158686.html

Morgan Stanley Downgrades NetApp (NTAP) Due to 15-Year Low in IT Hardware Budget Growth

Morgan Stanley downgraded NetApp (NTAP) to Underweight, citing a 15-year low in IT hardware budget growth and a more defensive stance on IT hardware. This followed a CIO survey revealing decreased budget growth, despite AI tailwinds. Conversely, Goldman Sachs initiated coverage with a Buy rating, expecting NetApp to maintain leadership in the all-flash storage market, projecting modest overall market growth for 2025.

https://finance.yahoo.com/news/morgan-stanley-downgrades-netapp-ntap-131158686.html

Short Interest in NetApp, Inc. (NASDAQ:NTAP) Decreases By 12.3%

NetApp, Inc. (NASDAQ:NTAP) experienced a 12.3% decrease in short interest during January, totaling 16,272,973 shares as of January 15th. This reduction from 18,547,520 shares on December 31st results in a days-to-cover ratio of 7.6 days based on average trading volume. Analysts have issued new price targets and ratings, with a consensus of "Moderate Buy" and a target price of $124.33, while insider selling and significant institutional investment activity have also been noted.

https://www.marketbeat.com/instant-alerts/short-interest-in-netapp-inc-nasdaqntap-decreases-by-123-2026-02-03/

National Pension Service Buys 32,833 Shares of NetApp, Inc. $NTAP

National Pension Service increased its stake in NetApp (NASDAQ:NTAP) by 26.0% in the third quarter, acquiring an additional 32,833 shares and now owning 159,274 shares valued at $18.87 million. Other institutional investors also adjusted their holdings, and analysts currently rate NetApp with a "Moderate Buy" and an average price target of $124.33. The company recently reported strong quarterly earnings, beating analyst estimates, and declared a quarterly dividend of $0.52 per share.

https://www.marketbeat.com/instant-alerts/filing-national-pension-service-buys-32833-shares-of-netapp-inc-ntap-2026-02-03/

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NetApp Inc. Price History

29.07.2025 - NTAP Stock was up 5.6%

• Q1 earnings and revenues for NetApp (NTAP) exceeded expectations, driven by growth in the Americas' enterprise sector.
• Despite the strong financial results, the stock price declined, possibly due to profit-taking or unmet market expectations.
• Market sentiment was mixed, as evidenced by companies like Cooper Companies reporting lower sales, impacting the performance of tech stocks.
• The bullish movement in NTAP is attributed to its strong start to the year, surpassing analyst estimates and demonstrating resilience in a challenging market environment.

10.11.2024 - NTAP Stock was down 5.1%

• The bearish movement in NTAP today could be attributed to concerns over weak IT spending, impacting the company's revenue growth potential.
• Despite the positive momentum in the AI space and strong performance in the all-flash storage and cloud market, stiff competition may have weighed down on investor sentiment.
• Investors might be cautious about the sustainability of NTAP's growth trajectory in 2025, leading to profit-taking and a bearish market movement today.

28.01.2025 - NTAP Stock was down 15.0%

• NetApp (NTAP) met Q3 earnings expectations, but the stock saw significant downward movement. Potential reasons for this include:
• Investor reaction to concerns over subdued IT spending, despite the success of all-flash products in the third quarter.
• Analyst projections for key metrics might have been lower than anticipated, prompting investors to sell shares.
• A marginal -0.06% stock movement prior to the bearish trend could indicate uncertainty and a lack of strong positive market sentiment.

04.01.2026 - NTAP Stock was up 5.0%

• NetApp (NTAP) was downgraded to Underweight by one analyst due to a 15-year low in IT hardware budget growth, raising cautionary factors despite AI tailwinds.
• On the other hand, another analyst initiated coverage with a Buy rating, emphasizing NetApp's position in the all-flash storage market and a favorable future outlook.
• The short interest in NetApp decreased by 12.3% and the National Pension Service increased its stake, indicating changing investor sentiments.
• The bullish movement in NetApp's stock today reflects a blend of analyst evaluations, market dynamics, and investor behaviors, illustrating the intricate nature of stock movements in response to diverse perspectives and data points.

19.11.2024 - NTAP Stock was down 5.1%

• NTAP crossing below the 20-day moving average indicates short-term weakness in the stock.
• Crossing above the 50-day moving average could be a positive sign for investors, but today's bearish movement might have negated some of that optimism.
• Analyst upgrade and positive revenue growth outlook could have initially boosted confidence in NTAP, but broader market conditions or sector-specific challenges may have influenced the bearish trend.
• The bullish sentiment towards ConocoPhillips and AMETEK from other analysts did not seem to impact NTAP's performance today.

16.00.2026 - NTAP Stock was down 5.1%

• The decline in NetApp's stock price may be linked to the notable reduction in stakes by institutional investors such as Sumitomo Mitsui Trust Group Inc., Campbell & CO Investment Adviser LLC, and Nordea Investment Management AB.
• Insider selling activity from EVP Elizabeth M. O'callahan and CAO Lorenzo Daniel De might have also influenced the negative market sentiment towards the stock.
• Despite the positive earnings results and optimistic future outlook provided by the company, the heightened selling from institutional investors and insiders could have outweighed the positive developments, contributing to the bearish performance.
• Market analysts hold a cautiously optimistic stance on NetApp, with a consensus rating of "Moderate Buy" and an average price target of $124.33, suggesting potential upside growth ahead.

27.01.2025 - NTAP Stock was down 5.1%

• Speculation about subdued IT spending in the industry possibly influenced the stock's downward movement. This concern could have impacted revenue outlook for the company.
• Market expectations for NetApp's Q3 earnings might have prompted investors to lock in profits, creating selling pressure on the stock.
• A closer look at key metrics for NetApp may have unveiled operational challenges or uncertainties, adding to the prevailing bearish sentiment.
• Emphasis on earning monthly dividend income from NetApp shares could have redirected investor focus towards immediate returns, potentially triggering a stock sell-off and a decline in price.

28.07.2025 - NTAP Stock was up 3.4%

• NetApp (NTAP) demonstrated robust Q1 earnings and revenues that exceeded analysts' forecasts, marking a strong start to the year.
• Despite the favorable financial results, NetApp's stock experienced a decline, potentially due to investors selling off shares to lock in profits following a recent upward trend.
• The fluctuations in the market could also be impacted by broader economic challenges and a cautious approach to spending among customers as outlined in the earnings report.
• In conclusion, NetApp's positive financial performance today drove a bullish market response, although this was tempered by profit-taking behaviors and overall market uncertainties.

03.05.2025 - NTAP Stock was up 5.0%

• Despite NetApp's Q1 outlook falling short and an analyst lowering the price forecast, the stock experienced a strong bullish movement. This could be attributed to the Q4 earnings and revenue beating expectations, showcasing the company's strong performance.
• The initial dip in stock price following the cautious FY2026 outlook and weaker first-quarter guidance was short-lived, as investors may have focused on the positive year-over-year growth in earnings and revenues.
• The surprises in earnings and revenue for Q4 could have instilled confidence in investors regarding NetApp's ability to navigate challenges and deliver results, leading to the bullish market movement despite the mixed analyst sentiments.

10.03.2025 - NTAP Stock was up 5.8%

• NTAP stock rose by 13% after forming an alliance with Google Cloud for AI and enterprise workloads, reflecting the market's favorable response to the partnership and growth prospects in the sector.
• Despite a minor -1.21% decline in a recent trading session, the overall uptrend indicates investor optimism regarding NetApp's future and technological advancements.
• The increase in trading volume and positive earnings estimate revisions suggest investor confidence in NetApp's capacity to leverage emerging technologies and foster innovation in the data storage field, paving the way for potential stock growth.

10.09.2025 - NTAP Stock was down 5.1%

• Despite a 46% increase in the last six months, the stock has faced significant bearish pressure.
• Factors such as macro uncertainty and competitive challenges are believed to be influencing this downward trend.
• The company's advancements in flash, AI, and cloud technologies have been eclipsed by market conditions, contributing to the bearish movement.
• Given the existing market dynamics and competitive environment, investors might be exercising caution regarding the stock's future performance.

04.01.2026 - NTAP Stock was up 3.2%

• Despite concerns raised about a historical low in IT hardware budget growth, some investors remained optimistic about NTAP post a downgrade from experts. Positive support and an upbeat forecast from another reputable financial firm boosted overall confidence.
• The decrease in short interest by 12.3% indicates a shift towards a more positive outlook on NTAP, potentially influencing the recent upward movement in the stock price.
• The National Pension Service increased its ownership stake in NTAP, alongside a robust quarterly financial report that included dividends. These factors added to the favorable sentiment among investors, leading to a rise in the stock price.
• In addition to strong financial performance, the CEO of NetApp shared plans for investments and strategies to tackle AI challenges in 2026. This, combined with positive market sentiment, likely reassured investors and contributed to the recent bullish market movement.