NetApp price target raised to $260 after strong Q1 results and AI upgrades

NetApp's stock price target was increased from $215 to $260 following its robust fiscal 2027 Q1 results, which included $2.03 billion in revenue and $2.58 non-GAAP earnings per share, both exceeding estimates. The company is advancing its AI infrastructure with new Novus storage architecture and AI Data Engine upgrades to address data management challenges in AI projects. This strong performance and AI focus have boosted investor confidence, with the stock trading about 15% below the new target. NetApp aims to capitalize on growing AI-related customer spending and data needs in the business sector.

NetApp's stock is trading at USD 226.00 on Pluang as of Oct 03, 2026 03:22 WIB, up 5.09% for the day, which shows strong momentum following the raised price target to $260. Despite this gain, the stock remains about 15% below the new target price. Compared to its typical hold time of 57 days on Pluang, current investor activity leans heavily toward selling, with 87% of orders being sell orders, indicating cautious sentiment despite the positive earnings and AI infrastructure developments.