NetApp (NTAP) Trails S&P 500 as Analysts Maintain Moderate Buy, $122.94 Target

NetApp (NTAP) stock underperformed the S&P 500, declining 13% in the past year and 4.4% in 2026, amid a 11.8% gain in the benchmark index. The technology stock also lagged the XLK, which rose 16.7% over the same period. On February 13, NTAP shares rose 4.7% on weaker-than-expected U.S. inflation, bolstering expectations of multiple Federal Reserve rate cuts later in 2026. Analysts forecast FY26 EPS of $6.38, a 10.2% increase from the prior year, with a mixed earnings surprise history. The consensus rating remains a "Moderate Buy" based on eight "Strong Buys," 12 "Holds," and one "Strong Sell," with a mean price target of $122.94, implying a 20% premium to current levels.