NetApp stock gains on a $2.58 quarterly EPS beat

Published on 09/07/2026 at 22:37 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

NetApp stock draws support from a $2.58 quarterly EPS beat, $2.02 billion revenue and a raised FY2027 outlook after the September 2 results.

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 (US64120B1098) has a fresh earnings anchor after the company reported $2.58 EPS for the quarter and $2.02 billion in revenue on September 2, 2026. The revenue figure beat the $1.84 billion estimate by $180 million, while EPS topped the $2.12 consensus by $0.46.

Results reset the bar

MarketBeat said NetApp had a consensus rating of Hold and an average price target of $192.07 as it tracked the September 2 report. The same source put the stock at a market capitalization of $36.45 billion, a one year high of $209.06 and a one year low of $93.69.

That setup matters because the quarter was not only a beat, it also marked a 29.9 percent increase in revenue from the prior year period and a 66.5 percent increase in non-GAAP EPS from the same quarter a year earlier. For investors, the scale of the comparison is the point.

Guidance moved higher

Zacks said NetApp raised fiscal 2027 revenue guidance to $7.975 billion to $8.225 billion and lifted non-GAAP EPS guidance to $9.73 to $10.03. At the midpoint, that implies $8.10 billion of revenue and $9.88 of EPS.

The same source said the midpoint of the revenue range is $650 million above the prior outlook and implies 17 percent growth, while the EPS midpoint points to 22 percent growth. Zacks also noted that first-quarter free cash flow was $401 million and that all-flash array revenue reached a record $1.309 billion.

Product mix stays central

NetApp's ONTAP platform and storage systems remain the core product set behind the current numbers. In the latest quarter, all-flash array revenue and Public Cloud revenue together accounted for 75 percent of net revenues, showing how the mix has shifted toward higher-growth categories.

Stock near the top of its range

NetApp stock traded at $185.59 on September 7, 2026, with a 50-day moving average of $178.73 and a 200-day moving average of $141.13. Against the same snapshot, the stock sat below the $209.06 one year high but well above the $93.69 one year low.