NetApp Price Target Raised to $260 Following Strong Q1 Results

Key Facts

1Loop Capital analyst Ananda Baruah raised the price target for NetApp to $260 from $215.

2The company reported fiscal 2027 Q1 revenue of $2.03 billion, up 29.9% year-over-year.

3Non-GAAP earnings reached $2.58 per share, significantly exceeding the estimate of $2.13.

Loop Capital analyst Ananda Baruah raised the price target for NetApp to $260 from $215. Financial Modeling Prep reported that the company achieved fiscal 2027 Q1 revenue of $2.03 billion, a 29.9% year-over-year increase that exceeded the $1.84 billion estimate. Non-GAAP earnings reached $2.58 per share, significantly outperforming the $2.13 analyst forecast.

The financial growth was supported by a 36.1% rise in billings to approximately $2.06 billion, alongside the introduction of the Novus storage architecture for AI projects. NTAP closed at $215.05 on October 1, 2026, and was trading at $226.27 on October 2, 2026, when the new price target was announced. The updated target sits approximately 14.9% above current trading levels.