NTAP Stock Analysis — NetApp
Sector: Tech hardware
AI Verdict
NetApp trades at a low price for the growth you're getting, but the overbought RSI means you're paying up for momentum and could see a sharp correction if expectations slip.
Competitive Moat
NetApp provides enterprise data storage and management solutions, with defensibility rooted in its proprietary ONTAP software that integrates seamlessly across hybrid cloud environments. Its long-standing relationships with major cloud providers and deep integration into enterprise IT workflows create high switching costs.
Summary
NetApp is drawing attention as analysts expect 68.5% EPS growth next year while the stock trades at just 19.1x forward earnings.
Where It Stands
NTAP is up 87.51% over the past year, sports an overbought RSI of 81.7, and trades at 19.1x forward earnings versus the tech hardware median of 25x.
Key Metrics
- RSI: 81.7 — Overbought
- Trailing P/E: 32.2x
- Forward P/E: 19.1x
- PEG Ratio: 0.46
- Earnings Growth: +0.7%
- Revenue Growth: +0.1%
- Market Cap: $40.1B
- Dividend Yield: 0.01%
- 1-Year Return: 87.51%
- 52-Week High: $209.06
- 52-Week Low: $93.69
Analyst Consensus
13 Buy · 14 Hold · 1 Sell (28 analysts)
Bull Case
A 19.1x forward P/E for 68.5% expected EPS growth is cheap for the growth on offer, especially if ONTAP's cloud integrations keep driving enterprise adoption.
Bear Case
An RSI of 81.7 signals overbought conditions, so a pullback to a neutral RSI could mean a 10–15% drop even if fundamentals hold.
Catalyst to Watch
Watch for upcoming earnings—if NetApp delivers on the 68.5% EPS growth forecast, the current valuation could look like a bargain.