NetApp stock gains 2.20 percent after strong Q1 growth

NetApp stock (NTAP) was trading at USD 200.65 on Nasdaq on September 24, 2026, up 2.20 percent, with the price 4.0 percent below its 52-week high of USD 209.06. The move follows a fiscal Q1 2027 report that combined 30 percent revenue growth with higher full-year guidance.

Revenue reaches USD 2.025 billion

According to NetApp in its September 2, 2026 release, net revenue for the quarter ended July 31, 2026 reached USD 2.025 billion, compared with USD 1.559 billion a year earlier. That was a 30 percent increase, while hybrid cloud revenue rose 30 percent to USD 1.819 billion and public cloud revenue increased 28 percent to USD 206 million.

The earnings mix also improved year over year. Non-GAAP EPS rose 66 percent to USD 2.58 from USD 1.55, while GAAP net income increased 61 percent to USD 375 million from USD 233 million.

Guidance sets the next benchmark

NetApp's fiscal 2027 outlook calls for revenue of USD 7.975 billion to USD 8.225 billion and non-GAAP EPS of USD 9.73 to USD 10.03, according to the September 2 release. The second-quarter outlook sets revenue at USD 2.025 billion to USD 2.175 billion and non-GAAP EPS at USD 2.54 to USD 2.64.

The numbers shift attention from the quarterly beat to execution against a larger base. Operating cash flow was USD 503 million in fiscal Q1 2027, down from USD 673 million in the year-earlier quarter, even as revenue and earnings advanced.

Analysts keep a Hold consensus

MarketBeat reported on September 22, 2026, that 17 analysts held a consensus rating of Hold, comprising 10 Hold ratings, six Buy ratings and one Strong Buy rating. The average one-year price target was USD 193.86, below the September 24 Nasdaq price of USD 200.65.

NetApp stock stays above USD 200

NetApp stock had a session high of USD 203.72 and a session low of USD 192.97 on September 24, 2026. Its 52-week range was USD 93.69 to USD 209.06, placing the intraday price near the upper end of the annual range while the higher guidance provides the central earnings test.