NetApp (NTAP) Stock News

Evercore ISI raised NetApp (NTAP) to Outperform from In-line with a $300 price target.

Evercore ISI raised its rating on NetApp to Outperform from In-Line. No price target was disclosed.

NetApp and Supermicro are partnering to deliver jointly validated AI infrastructure solutions. The collaboration targets large-scale AI factories, enterprise deployments, neoclouds, and sovereign AI initiatives by combining Supermicro's compute systems with NetApp's data platform.

NetApp and Oracle announced a pact to integrate Ontap natively into OCI. The move could strengthen NetApp's cloud reach and Oracle's storage offering. Terms and timeline are not disclosed.

NetApp announced its intent to acquire PEAK:AIO, a pioneer in metadata architecture and parallel file systems, to bolster its AI infrastructure portfolio.

NetApp reported Q1 revenue of $2.03B (est. $1.84B) and adjusted EPS of $2.58 (est. $2.12). The company raised its FY27 revenue guidance to $7.98B-$8.23B and adjusted EPS to $9.73-$10.03. Q2 guidance also topped estimates. All-flash revenue hit $1.3B; public cloud revenue rose 28% YoY.