Why NetApp, Inc. (NTAP) Stock Rose 5.2% on Oct 2, 2026
What happened
NetApp shares rose 5.13% to $226.08 following a Bank of America analyst price target increase from $200 to $220, cited alongside momentum from the company's INSIGHT 2026 event showcasing AI data engine upgrades and new partnerships with Supermicro. Recent revenue results showed all-flash arrays up 47% YoY to $1.31B and hybrid cloud revenue up 30% to $1.82B, both driven by AI and modernization demand (investing.com). Volume stood at 1.33x historical average 120 minutes into the session.
NetApp earnings scheduled for 2026-12-01 (consensus EPS estimate $2.60); watch for updates on AI-driven storage demand and the PEAK:AIO acquisition integration.
Other developments that session
NTAP stock gained 16% in 30 days following its latest earnings report.
NTAP stock rose 2.37% to close at $215.05, outperforming broader market.
Frequently asked questions
Why did NetApp, Inc. (NTAP) stock rise on Oct 2, 2026?
NetApp shares rose 5.13% to $226.08 following a Bank of America analyst price target increase from $200 to $220, cited alongside momentum from the company's INSIGHT 2026 event showcasing AI data engine upgrades and new partnerships with Supermicro. Recent revenue results showed all-flash arrays up 47% YoY to $1.31B and hybrid cloud revenue up 30% to $1.82B, both driven by AI and modernization demand (investing.com). Volume stood at 1.33x historical average 120 minutes into the session.
How much did NTAP stock rise on Oct 2, 2026?
NTAP rose 5.2% during the Oct 2, 2026 trading session.