NASDAQ · STOCK
NetApp
$178.60
52W $93.69 – $192.83
54/100
$35.03B
27.8
1.45
Is NTAP Bullish or Bearish?
Mixed.
Innellis AI committee rates NetApp (NTAP) Watch with a composite score of 54/100
, based on 7 analysts with 57% agreement.
Last updated August 01, 2026.
What Would Change This View
- Upgrade to Buy
- Requires a committee score of 60.0 — +5.51 from today. Applies on the first day at or above the line; upgrades are never dampened.
- Downgrade to Reduce
- Requires the score to fall below 40.0 — -14.49 from today. The band boundary is 45.0, but a one-step downgrade must clear a further margin first. A score oscillating around the line should not change the rating every night.
Executive Summary
The committee is genuinely divided. Macro Analyst sees a compelling case — market regime is bullish (bull market -- normal position sizing). Risk Analyst remains cautious — high leverage (debt-to-equity 1.84) amplifies downside in a stress scenario. This disagreement is itself the signal — the setup is not clean in either direction.
Bull & Bear Case
Bull Case
- ROE of 114.2% shows genuine earnings power backing the valuation — Value
- 3 consecutive earnings beats -- consistent execution — Growth
- Quarter-over-quarter growth rate is ACCELERATING, not just positive — Growth
- Price structure making higher highs and higher lows — Technical
- MACD histogram positive -- bullish momentum — Technical
- Weekly trend (uptrend) confirms the daily trend -- multi-timeframe agreement — Technical
Bear Case
- P/E of 27.5 is moderate-to-rich — Value
- Price-to-book of 15.9x prices in significant intangible value — Value
- Debt-to-equity of 1.84 adds balance-sheet risk to the value case — Value
- RSI at 72 is in overbought territory — Technical
- Price trading above the upper Bollinger Band -- stretched — Technical
- Weekly RSI at 76 -- overbought on the larger timeframe too — Technical
Both cases are generated from quantitative data signals, not qualitative or
forward-looking judgement. They summarise what the numbers say today.
Price History (6M)
AI Investment Committee
Committee Consensus
As of August 01, 2026
Overall Committee Score
54/100
Agreement
57%
Analysts
7
Conviction
Contested
Sector Rank
Top 63%
of 172 Technology peers
Value Analyst
neutral
45
/ 100 · High confidence
Fair value -- neither a bargain nor obviously overpriced
+ ROE of 114.2% shows genuine earnings power backing the valuation
− P/E of 27.5 is moderate-to-rich
Growth Analyst
bullish
68
/ 100 · High confidence
Strong, accelerating growth with consistent execution
+ 3 consecutive earnings beats -- consistent execution
Technical Analyst
bullish
61
/ 100 · High confidence
Price action is constructive -- trend and momentum agree
+ Price structure making higher highs and higher lows
− RSI at 72 is in overbought territory
Risk Analyst
bearish
30
/ 100 · Low confidence
Elevated risk from leverage, volatility, event exposure, or portfolio concentration -- size accordingly
− High leverage (debt-to-equity 1.84) amplifies downside in a stress scenario
Macro Analyst
bullish
70
/ 100 · Moderate confidence
Macro backdrop is supportive of risk assets generally, and this name's beta works in its favor
+ Market regime is bullish (Bull market -- normal position sizing)
News Analyst
bullish
62
/ 100 · Low confidence
News flow and recent filings/analyst actions are net positive
Portfolio Manager
neutral
45
/ 100 · High confidence
Portfolio-level factors are mixed -- worth a deliberate sizing decision, not a default-size position
+ Portfolio position concentration is currently healthy
− Sector concentration is already high (HHI 2535.03)
Investment Thesis Evolution
Committee score moved marginally from 54.4 to 54.5.
- Committee agreement increased notably from 43% to 57%.
- New bearish signals: 6 appeared.
- Bullish support removed: 1 signal(s) disappeared.
- Bearish pressure eased: 3 signal(s) disappeared.
- Analyst(s) changed stance: Macro Analyst.
Analyst-level changes:
- Macro Analyst: stance neutral->bullish; score 58->70 (+12).
- News Analyst: score 66->62 (-4).
- Portfolio Manager: +2 bearish signal(s).
- Technical Analyst: score 69->61 (-8); +3 bearish signal(s).
- Value Analyst: +1 bearish signal(s).
Comparing 2026-07-31 to 2026-08-01 (1 day apart).
Technical Analysis
RSI (14)
71.6
Overbought
MACD Histogram
0.730
Bullish Momentum
Trend Direction
Uptrend
Weekly: Uptrend
Market Structure
Mixed
Support
$102.67
Resistance
$192.65
Bollinger %B
1.02
Above Upper Band
Price vs Moving Averages
EMA 9
$171.64
Above
EMA 21
$167.31
Above
EMA 50
$157.09
Above
EMA 200
$128.99
Above
Fundamental Analysis
Valuation
23
Growth
79
Profitability
2
Financial Health
38
Cash Flow
37
Valuation
P/E Ratio
27.8×
P/B Ratio
26.03×
PEG Ratio
2.60
Dividend Yield
0.01%
52W High
$192.83
52W Low
$93.69
Quality & Growth
ROE
94.5%
ROA
11.9%
Gross Margin
70.7%
Operating Margin
24.1%
Revenue Growth YoY
—
Debt / Equity
2.02
AI Fundamental Assessment
P/E ratio of 27.8 (moderate relative to a 15-40x range); Price-to-book of 26.0x; PEG ratio of 2.6 (under 1.0 suggests growth is undervalued relative to price); Return on equity of 0.9%; Return on assets of 0.1%; Net margin of 0.2%; Gross margin of 0.7%; Current ratio of 1.44 (tight short-term liquidity); Debt-to-equity of 2.02; Free cash flow margin of 0.9% (thin cash generation); Free cash flow per share is positive (9.49); Most recent quarter beat estimates by 5.1%; 3 consecutive earnings beats; EPS growth accelerating (+3.4% -> +14.6% QoQ); Analyst estimates rising over recent quarters
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