NetApp (NTAP) Q2 2026 earnings — TrendMatrix coverage
Reported
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Full disclosure
Key numbers
- Adjusted EPS
- —
- Estimate
- $2.12
- Surprise
- —
- Revenue (period 2026-07-31)
- $2.02B
- Score at report (before → after)
- 5.7 → 5.7/10
Revenue source: xbrl.
How the report landed
TrendMatrix's engine moved from Hold (5.7/10) to Sell at 5.7/10 after the report.
Where TrendMatrix's rating stands now
TrendMatrix currently rates NTAP Sell at 6.4/10.
4 of the last 4 quarters beat the estimate. Next scheduled report: 2026-12-01.
What supports the rating
- V7 flight-to-quality bonus: +0.5 (Q=8.1 in RISK_OFF)
- Strong earnings beat streak (4/4)
What argues against it
- Analyst target reached - limited upside remaining
- Near 52-week high (1.5% away)
- Sector modifier (Technology): -0.8
This section and the ones below it reflect TrendMatrix’s latest engine read — they update after the report date and are not frozen to it.
The levels TrendMatrix's engine tracks
- Current price
- $228.45
- Price target
- $262.72
- Stop
- $212.46
- Upside to target
- +15.0%
The stock trades at 32.2× trailing but 20.5× forward earnings — consensus estimates already build in a substantial earnings recovery.
Risk check: RSI 85 — a level conventionally read as overbought; gains at these levels often lean on momentum.
Model outputs from TrendMatrix’s engine as of 2026-10-07 — shown for context, not personalized investment advice.
NTAP at TrendMatrix's latest read
Technology names get repriced on forward expectations more than trailing prints — a quarter here is read through next-year growth and multiple, not the EPS line alone.
- Industry
- Software - Infrastructure
- Market cap
- $44.87B
- P/E (fwd)
- 20.5
- P/E (ttm)
- 32.2
- 52-week range
- $93.69–$231.90
- Off 52-week high
- 1.5%
- RSI (14)
- 85
- Volume vs avg
- 1.10×
- Score today
- 6.4/10