NetApp Inc stock (US64120C1045): Argus lifts price target as Nasdaq-listed shares trade near record levels

NetApp Inc shares on the Nasdaq stayed firm at elevated levels at the end of May while Argus Research lifted its price target to USD 200, putting renewed focus on the United States data?storage specialist and its valuation.

NetApp Inc shares on the Nasdaq in the United States continue to trade close to record territory, with the stock changing hands around the high USD 170s in late May 2026 as the data?storage specialist remains in focus among US technology names, according to price data cited by GuruFocus as of 05/29/2026.

On 05/29/2026, Argus Research reiterated its positive view on NetApp Inc and raised its 12?month price target to USD 200 from USD 130, keeping a "Buy" rating on the Nasdaq-listed stock and signaling confidence in the companys prospects in the US enterprise data market, based on a research note reported by GuruFocus on that date.

The Argus revision follows a period of strong share price performance for NetApp Inc, with market capitalization reaching about USD 34.39 billion as of 05/29/2026, up roughly 69.67% from a year earlier, according to Stock Analysis data as of that date for Nasdaq:NTAP.

In its coverage, Argus pointed to operational execution and product positioning as key supports for the higher USD 200 target, while GuruFocus calculated a proprietary GF Value of USD 114.93 for NetApp Inc as of 05/29/2026, implying the shares were trading at a premium of about 53.7% versus that valuation benchmark at a then-current price of USD 176.64.

The stock therefore sits at the intersection of upbeat US analyst sentiment and valuation debate, with the United States remaining the core market for both the companys customer base and its investor audience via the Nasdaq listing under the ticker NTAP.

As of: 06/01/2026

By the editorial team - specialized in equity coverage.

At a glance

• Name: NetApp Inc
• Sector/industry: Data storage and cloud infrastructure
• Headquarters/country: San Jose, United States
• Core markets: Enterprise and cloud customers in North America, EMEA and Asia-Pacific
• Key revenue drivers: Hybrid cloud storage platforms, all-flash arrays, data management software and support services
• Home exchange/listing venue: Nasdaq (NTAP)
• Trading currency: USD

NetApp Inc: core business model

NetApp Inc focuses on providing enterprises with hybrid cloud and on-premises data?storage platforms, with revenue largely generated from hardware systems bundles, software subscriptions and services that help customers manage and protect mission?critical data.

What banks and research houses say about NetApp Inc

On 05/29/2026, Argus Research increased its price target for NetApp Inc to USD 200 from USD 130 while maintaining a "Buy" rating, highlighting expectations for continued earnings growth and product demand in data storage and cloud-integrated solutions, according to a GuruFocus summary of the Argus note as of that date.

The Argus move places its target comfortably above the late?May trading level of roughly USD 176.64 for NetApp Inc, implying additional upside from current United States market pricing even as valuation metrics such as the GF Value suggested the shares were already trading at a premium at that time.

Conclusion

The combination of a sharply higher Argus price target and a market capitalization near USD 34.39 billion underscores how strongly United States investors have repriced NetApp Inc over the past year on expectations for durable cash generation and demand for data?storage solutions.

At the same time, valuation metrics such as the GF Value highlight that the Nasdaq?listed stock is already trading at a notable premium, meaning future share price performance will likely depend on whether NetApp Inc can continue to meet or exceed growth expectations embedded in current analyst models.

Disclaimer: This article does not constitute investment advice. The comprehensive scope of this informative article was made possible through the use of a.i.. Stocks are volatile financial instruments.