NetApp extends AI tailwind with new CGI cloud pact, shares hold near Nasdaq highs
22.06.2026 - 18:09:29 | ad-hoc-news.de
By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-22, 18:04.
NetApp (US64120B1098) pushes deeper into cloud data services as it expands a strategic storage alliance with Canadian IT services group CGI, while the Nasdaq-listed shares trade close to their recent highs after a strong AI-driven earnings season, according to Investing.com and recent analyst commentary. Investing.com summary of the CGI-NetApp alliance
What the CGI deal adds
CGI and NetApp have agreed to broaden their existing partnership so that NetApp technology underpins CGI's shared services framework for block storage, aimed at enterprise and public-sector clients modernizing hybrid and multi-cloud environments, as outlined in a recent press note summarized by Investing.com. Investing.com report on the expanded partnership
The collaboration is designed to help organizations manage data consistently across private, public and hybrid clouds, positioning NetApp as a core infrastructure provider while CGI integrates and operates the services for customers in sectors such as government and regulated industries. Investing.com report on the expanded partnership
Analysts focus on AI-driven earnings
NetApp's latest fiscal quarter showed earnings per share of around $2.43, above prior analyst expectations close to $2.27, with revenue roughly 2 percent ahead of forecasts, helped by demand for AI-related storage and data services, according to an earnings recap cited by Investing.com. Investing.com earnings coverage with analyst reactions
Argus responded by raising its price target on NetApp while maintaining a Buy rating, and UBS also lifted its target to about $160 from $113 with a Neutral stance, highlighting that quarterly revenue came in roughly 2 percent above its model and that product margins exceeded expectations. Investing.com earnings coverage with analyst reactions
All news and analysis on the NetApp shares
Track how NetApp's AI-focused strategy, analyst ratings and Nasdaq trading performance evolve over time in our dedicated topic overview.
The product behind the stock
NetApp generates most of its revenue with its ONTAP-based data management and storage platform, which underpins all-flash arrays and cloud-integrated systems used to store, protect and serve data for enterprise workloads, including AI training, virtual machines and databases in on-premise and hybrid cloud setups. NetApp newsroom overview
Where the shares trade now
NetApp shares (US64120B1098) last traded on Nasdaq at around 159.71 US dollars on 2026-06-22, 05:23, with a daily range between 153.33 and 161.17 dollars and an indicated ex-dividend date of 2026-07-10, according to recent exchange data.
Key data on the NetApp shares
- Company: NetApp Inc.
- ISIN: US64120B1098
- WKN: 897824
- Ticker: NTAP
- Trading venue: NASDAQ
- Price (as of 2026-06-22, 05:23): 159.71 USD
- Market cap: 31.29 billion USD (as of 2026-06-18)
- Sector / industry: Technology / Data storage & infrastructure
- Index membership: NASDAQ-100
- Next earnings date: not officially scheduled
This article is for informational purposes only and does not constitute investment advice, investment recommendation or an offer or solicitation to buy or sell any financial instrument. Figures and dates are based on sources cited in the text and may change; investors should consult original filings and professional advisers before making investment decisions.
