Movement Alert｜NetApp Rises 5.09% in Regular Trading, Storage Sector Rallies as Multiple Firms Raise Target Prices

Market Focus07-06

On July 6, NetApp rose 5.09% in regular trading, trading at $162.045/share, with turnover of $49.55 million. The stock advanced alongside a broad rally in the storage hardware sector.

On the news front, the Technology Hardware, Storage & Peripherals sector saw collective strength, with Western Digital up 10.34%, Dell Technologies up 7.82%, and Seagate Technology up 7.19%. NetApp benefited from both sector momentum and a wave of analyst upgrades. Daiwa Securities recently raised its target price on NetApp from $117 to $180, maintaining an Outperform rating. Earlier, BofA Securities raised its target to $180, Citic Securities to $199, and Argus Research to $200, pushing the consensus mean target price to $175.69.

The upgrades follow NetApp's fiscal Q4 results reported in late May, which beat expectations with adjusted EPS of $2.43 versus the $2.27 estimate and revenue of $1.95 billion versus the $1.87 billion estimate. The company guided fiscal 2027 full-year adjusted EPS of $8.70-$9.00, above the $8.55 consensus, supported by strong all-flash array demand driven by AI workloads.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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