NTAP

NetApp, Inc.

TechnologySoftware - InfrastructureNASDAQ

$174.29

+$70.78 (40.61%)today

Conviction

6/ 10

Fair Value$117.93

Upside-32.34%

Signal0

Market Cap$19.2B

52W Range$74.80–$126.66

Next EarningsMay 28

Conviction History

Conviction Changes

No conviction changes recorded

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Price History

FAIR VALUE ANALYSISMonte Carlo · 5,000 runs · 99% valid

Fair Value$81.99

Current Price$101.11

Upside / Down-18.9%

P(Undervalued)10.8%

P(20%+ Up)0.6%

P(15%+ Down)60.5%

Fair Value Distribution — percentile bands

10.8% of simulations place fair value above current price

WHAT IS PRICED IN

Revenue-Based Reverse DCF

7.8%/yr

±4.4% · revenue growth to justify current price

FCF-Based Reverse DCF

7.3%/yr

±2.6% · FCF growth to justify current price

THE GAP

Market pricing margin expansion or capex normalization

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Bull Case

No analysis yet

Bear Case

No analysis yet

Research Feed

sec_10qMar 3

Conviction: unchanged

NTAP Q3 FY2026: Component Cost Inflation Pressures Hybrid Cloud Margins

NTAP Q3 shows solid 4% YoY growth and 12% net income growth, but Hybrid Cloud segment margins compressed 110 bps YoY due to component cost inflation. Core business is resilient (70% gross margins, str...