NetApp (NASDAQ: NTAP) Surges on Strong Q4 Earnings and AI Demand

Font: Financial Modeling Prep  • Jun 02, 2026

• Goldman Sachs maintained its "Buy" rating for NetApp, raising its price target to $200, indicating strong analyst confidence.
• The company reported impressive Q4 FY26 financials, with revenues of $1.95 billion and earnings per share of $2.43, surpassing market expectations.
• Growth is significantly driven by enterprise artificial intelligence (AI) demand, as NetApp secured approximately 500 new AI-related deals in the last quarter.

NetApp (NASDAQ: NTAP) is a global company that specializes in cloud data services and data management. It provides solutions that help organizations manage and store their data across private data centers and large public clouds. The company operates in a competitive market for data storage and cloud services, with a current market capitalization of approximately $35.59 billion.

On June 2, 2026, the investment firm Goldman Sachs maintained its "Buy" rating for NetApp. A "Buy" rating suggests that analysts believe the stock's price will increase in the future. In a sign of strong confidence, the firm also raised its price target for the company to $200 from a previous target of $127 per share.

This positive analyst action follows a very strong financial report from NetApp. For its fourth quarter of fiscal 2026, the company reported revenues of $1.95 billion and earnings per share of $2.43. These figures were higher than what most market analysts had predicted, as highlighted by both Zacks and The Motley Fool.

A key driver of this success is the growing demand for enterprise artificial intelligence (AI). The company notes that businesses are now spending more on the infrastructure needed for AI projects. In the last quarter, NetApp secured about 500 new deals related to AI and data preparation, showing strong momentum in this area.

Looking ahead, NetApp projects continued growth, guiding for fiscal year 2027 revenues between $7.33 billion and $7.58 billion. This positive outlook, combined with the recent earnings beat, caused the stock price to surge. At the time of the analyst update, NetApp's stock was trading at $179.70 per share.