NTAP trades 29.6% below Wall Street's consensus target of $219.30.
Last 12 months price action with 12-month analyst target path
The base valuation assumes NTAP achieves its forward estimates and maintains a stable P/E multiple of 21.2x. This scenario reflects the blended consensus of 71 Wall Street analysts, balancing both positive catalysts and macroeconomic headwinds over the next 12 months.
As of November 7, 2026, NetApp, Inc. (NTAP) has a Wall Street consensus price target of $219.30, based on estimates from 71 covering analysts. With the stock currently trading at $169.15, this represents a potential upside of +29.6%. The company has a market capitalization of $33.50B.
Analyst price targets range from a low of $170.00 to a high of $300.00, representing a 59% spread in expectations. The median target of $205.00 differs from the mean, suggesting potential outlier estimates. The wide target spread reflects significant disagreement on fair value.
The current analyst consensus rating is Hold, with 26 analysts rating the stock as a Buy or Strong Buy,37 rating it Hold, and 8 rating it Sell or Strong Sell. The mixed ratings reflect uncertainty about near-term direction.
From a valuation perspective, NTAP trades at a trailing P/E of 26.6x and forward P/E of 21.2x. The forward PEG ratio of 1.46 indicates reasonable valuation for growth. Analysts expect EPS to grow +12.6% over the next year.
Our proprietary valuation model, which blends historical multiples with forward estimates, suggests a base-case price target of $241.43, with bear and bull scenarios of $152.10 and $318.11 respectively. Model confidence stands at 55/100, reflecting moderate uncertainty in projections.
| Company | Market Cap | Price | Target | Upside Potential | Rating | Fwd P/E | Analysts |
|---|---|---|---|---|---|---|---|
 PSTGEverpure, Inc | $24.7B | $74.61 | $87.00 | +16.6% | Buy | 30.5x | 32 |
 HPEHewlett Packard Enterprise Company | $59.3B | $44.76 | $70.00 | +56.4% | Hold | 11.7x | 40 |
 DELLDell Technologies Inc. | $218.2B | $328.53 | $564.65 | +71.9% | Buy | 33.0x | 45 |
 IBMInternational Business Machines Corporation | $230.8B | $245.00 | $272.33 | +11.2% | Buy | 19.7x | 52 |
 STXSeagate Technology Holdings plc | $103.4B | $460.99 | $1105.93 | +139.9% | Buy | 30.9x | 52 |
 WDCWestern Digital Corporation | $90.9B | $263.78 | $617.15 | +134.0% | Buy | 26.4x | 61 |
 SCSCScanSource, Inc. | $869M | $42.78 | $43.00 | +0.5% | Hold | 10.9x | 6 |
 NCNOnCino, Inc. | $2.5B | $22.67 | $23.43 | +3.4% | Buy | 25.0x | 24 |
 BOXBox, Inc. | $5.8B | $41.95 | $37.25 | -11.2% | Buy | 32.6x | 28 |
 CSCOCisco Systems, Inc. | $369.9B | $93.85 | $131.42 | +40.0% | Buy | 21.9x | 74 |
Quick answers to the most common questions about buying NTAP stock.
The consensus Wall Street price target for NTAP is $219.3, representing 29.6% upside from the current price of $169.15. With 71 analysts covering the stock, this strong upside suggests significant value not yet reflected in today's share price.
NTAP has a consensus rating of "Hold" based on 71 Wall Street analysts. The rating breakdown is mixed, with 37 Hold ratings making up the largest segment. The consensus 12-month price target of $219.3 implies 29.6% upside from current levels.
NTAP trades at a forward P/E of 21.189x, representing a moderate valuation. With analysts targeting $219.3 (29.6% implied move), the stock appears reasonably valued with upside.
The most bullish Wall Street analyst has a price target of $300 for NTAP, while the most conservative target is $170. The consensus of $219.3 represents the median expectation. Our quantitative valuation model projects a bull case target of $318 based on optimistic growth and margin assumptions. These targets typically reflect 12-month expectations.
NTAP is heavily covered by Wall Street, with 71 analysts providing price targets and ratings. Of these, 0 have Strong Buy ratings, 26 have Buy ratings, 37 recommend Hold, and 8 have Sell or Strong Sell ratings. Higher analyst coverage generally indicates greater institutional interest and more reliable consensus estimates.
The 12-month NTAP stock forecast based on 71 Wall Street analysts shows a consensus price target of $219.3, with estimates ranging from $170 (bear case) to $300 (bull case). The median consensus rating is "Hold". Our proprietary valuation model produces a base case fair value of $241, with bear/bull scenarios of $152/$318.
Our quantitative valuation model calculates NTAP's fair value at $241 (base case), with a bear case of $152 and bull case of $318. The model uses discounted cash flow analysis, historical growth rates, and margin mean-reversion to project FY+2 earnings, then applies an appropriate P/E multiple. The model confidence score is 55/100.
NTAP trades at a forward P/E ratio of 21.2x based on next-twelve-months earnings estimates compared to a trailing P/E of 26.6x. The lower forward P/E indicates analysts expect earnings growth. A forward P/E is useful for comparing valuations when earnings are expected to change significantly.
Wall Street analysts are very optimistic on NTAP, with a "Hold" consensus rating and $219.3 price target (29.6% upside). 26 of 71 analysts rate it Buy or Strong Buy. This information is for educational purposes only. Always conduct your own research, consider your financial situation, and consult a financial advisor before making investment decisions.
NTAP analyst price targets range from $170 to $300, a 59% wide spread indicating significant analyst disagreement. Differences stem from varying assumptions about revenue growth, profit margins, competitive dynamics, and valuation multiples. The $219.3 consensus represents the middle ground. Our model's $152-$318 range provides an independent fundamental perspective.
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