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NetApp (NTAP, Technology Hardware Storage & Peripherals) Stock Valuation & Fair Value Significantly overvalued

NetApp (NTAP, Technology Hardware Storage & Peripherals) trades at a blended P/E of 25.4, about 43% above its historical normal valuation, with a forward growth estimate of 11.9% and a PEG of 2.13. Analysts' one-year estimates have been hit 36% of the time. Priced at its historical normal P/E of 17.8 on the same blended earnings, the 2026-10-02 close of $226.27 corresponds to about $159 a share. This is a valuation reference, not a price target.

DATA AS OF 2026-10-05
Blended P/E
25.4
Normal P/E
17.8
PEG
2.13
Fwd growth
11.9%
Div yield
0.9%
RSI (14)
71.6
Overbought
Technical context
  • Price $231.05 at the 2026-10-08 close, 11.8% above the 20-day average ($206.68) and 17.3% above the 50-day ($197.00).
  • RSI (14) at 71.6.
  • 52-week range $93.35 to $235.77: the price is 2.0% below the high and 147.5% above the low.

The Street vs SeerForecast

Wall Street's mean price target for NTAP is $201.06 across 16 analysts, 13.0% below the current price. The average analyst rating is Buy. Our SeerForecast read of the same stock, formed without analyst targets: significantly overvalued. When the two disagree, start your digging there.

Valuation flags

Verdict history

tickerseer's rating moved from mixed on our tests (2026-06-03) to significantly overvalued (2026-10-05).

Blended P/E and rating by weekBlended P/E moved from 17.4 to 25.4 between 2026-06-03 and 2026-10-02, against a normal P/E of 17.8, with 6 rating changes over 37 recorded weeks.2026-06-03: P/E 17.4, Mixed on our tests, recalculated for the week of 2026-06-032026-06-10: P/E 20.4, Weak on forward returns, recalculated for the week of 2026-06-102026-06-12: P/E 20.4, Weak on forward returns, recalculated for the week of 2026-06-142026-06-16: P/E 20.4, Weak on forward returns, recalculated for the week of 2026-06-162026-06-18: P/E 20.4, Weak on forward returns, recalculated for the week of 2026-06-212026-07-02: P/E 18.9, Mixed on our tests, recalculated for the week of 2026-07-022026-07-06: P/E 18.7, Mixed on our tests, recalculated for the week of 2026-07-062026-07-09: P/E 18.7, Mixed on our tests, recalculated for the week of 2026-07-092026-07-10: P/E 20.4, Weak on forward returns, recalculated for the week of 2026-07-122026-07-13: P/E 20.4, Weak on forward returns, recalculated for the week of 2026-07-132026-07-14: P/E 20.4, Weak on forward returns, recalculated for the week of 2026-07-142026-07-20: P/E 19.8, Mixed on our tests, recalculated for the week of 2026-07-202026-07-22: P/E 19.8, Mixed on our tests, recalculated for the week of 2026-07-222026-07-24: P/E 20.2, Weak on forward returns, recalculated for the week of 2026-07-252026-07-27: P/E 20.2, Weak on forward returns, recalculated for the week of 2026-07-272026-07-31: P/E 20.9, Weak on forward returns, recalculated for the week of 2026-07-312026-07-31: P/E 21.5, Trading above its usual valuation, recorded live 2026-08-032026-08-07: P/E 23.0, Trading above its usual valuation, recalculated for the week of 2026-08-072026-08-07: P/E 22.8, Trading above its usual valuation, recorded live 2026-08-102026-08-14: P/E 24.6, Trading above its usual valuation, recalculated for the week of 2026-08-142026-08-14: P/E 24.8, Trading above its usual valuation, recorded live 2026-08-172026-08-21: P/E 23.1, Trading above its usual valuation, recalculated for the week of 2026-08-212026-08-21: P/E 23.0, Trading above its usual valuation, recorded live 2026-08-242026-08-27: P/E 23.0, Trading above its usual valuation, recalculated for the week of 2026-08-272026-08-28: P/E 22.7, Trading above its usual valuation, recalculated for the week of 2026-08-282026-08-28: P/E 22.3, Trading above its usual valuation, recalculated for the week of 2026-08-302026-08-28: P/E 22.3, Trading above its usual valuation, recorded live 2026-08-312026-09-04: P/E 21.2, Weak on forward returns, recalculated for the week of 2026-09-052026-09-04: P/E 21.2, Weak on forward returns, recorded live 2026-09-072026-09-11: P/E 22.7, Trading above its usual valuation, recalculated for the week of 2026-09-122026-09-11: P/E 22.7, Trading above its usual valuation, recorded live 2026-09-142026-09-18: P/E 22.4, Trading above its usual valuation, recalculated for the week of 2026-09-192026-09-18: P/E 22.4, Trading above its usual valuation, recorded live 2026-09-212026-09-25: P/E 22.6, Trading above its usual valuation, recalculated for the week of 2026-09-262026-09-25: P/E 22.6, Trading above its usual valuation, recorded live 2026-09-282026-10-02: P/E 25.4, Significantly overvalued, recalculated for the week of 2026-10-032026-10-02: P/E 25.4, Significantly overvalued, recorded live 2026-10-0518.020.022.024.0Jun 3Jul 3Aug 2Sep 2Oct 2Normal P/E 17.8
Mixed on our testsWeak on forward returnsTrading above its usual valuationSignificantly overvaluedLarger dot: a stronger reading

Not every point was recorded live. Points marked recalculated apply today's valuation rules to the metrics tickerseer archived that week.

Selected weeks: the first, the latest, every week the rating moved, and the cheapest and dearest.

WeekBlended P/EPremium to normal P/ERating
2026-06-03P/E 17.4-2%Mixed on our tests (recalculated)
2026-06-10P/E 20.4+14%Weak on forward returns (recalculated)
2026-07-02P/E 18.9+6%Mixed on our tests (recalculated)
2026-07-12P/E 20.4+15%Weak on forward returns (recalculated)
2026-07-20P/E 19.8+11%Mixed on our tests (recalculated)
2026-07-25P/E 20.2+14%Weak on forward returns (recalculated)
2026-10-03P/E 25.4+43%Significantly overvalued (recalculated)
2026-10-05P/E 25.4+43%Significantly overvalued ← now
Show all 37 weeks
WeekBlended P/EPremium to normal P/ERating
2026-06-03P/E 17.4-2%Mixed on our tests (recalculated)
2026-06-10P/E 20.4+14%Weak on forward returns (recalculated)
2026-06-14P/E 20.4+14%Weak on forward returns (recalculated)
2026-06-16P/E 20.4+14%Weak on forward returns (recalculated)
2026-06-21P/E 20.4+14%Weak on forward returns (recalculated)
2026-07-02P/E 18.9+6%Mixed on our tests (recalculated)
2026-07-06P/E 18.7+5%Mixed on our tests (recalculated)
2026-07-09P/E 18.7+5%Mixed on our tests (recalculated)
2026-07-12P/E 20.4+15%Weak on forward returns (recalculated)
2026-07-13P/E 20.4+15%Weak on forward returns (recalculated)
2026-07-14P/E 20.4+15%Weak on forward returns (recalculated)
2026-07-20P/E 19.8+11%Mixed on our tests (recalculated)
2026-07-22P/E 19.8+11%Mixed on our tests (recalculated)
2026-07-25P/E 20.2+14%Weak on forward returns (recalculated)
2026-07-27P/E 20.2+14%Weak on forward returns (recalculated)
2026-07-31P/E 20.9+18%Weak on forward returns (recalculated)
2026-08-03P/E 21.5+21%Trading above its usual valuation
2026-08-07P/E 23.0+29%Trading above its usual valuation (recalculated)
2026-08-10P/E 22.8+28%Trading above its usual valuation
2026-08-14P/E 24.6+38%Trading above its usual valuation (recalculated)
2026-08-17P/E 24.8+39%Trading above its usual valuation
2026-08-21P/E 23.1+29%Trading above its usual valuation (recalculated)
2026-08-24P/E 23.0+29%Trading above its usual valuation
2026-08-27P/E 23.0+29%Trading above its usual valuation (recalculated)
2026-08-28P/E 22.7+28%Trading above its usual valuation (recalculated)
2026-08-30P/E 22.3+25%Trading above its usual valuation (recalculated)
2026-08-31P/E 22.3+25%Trading above its usual valuation
2026-09-05P/E 21.2+19%Weak on forward returns (recalculated)
2026-09-07P/E 21.2+19%Weak on forward returns
2026-09-12P/E 22.7+27%Trading above its usual valuation (recalculated)
2026-09-14P/E 22.7+27%Trading above its usual valuation
2026-09-19P/E 22.4+26%Trading above its usual valuation (recalculated)
2026-09-21P/E 22.4+26%Trading above its usual valuation
2026-09-26P/E 22.6+27%Trading above its usual valuation (recalculated)
2026-09-28P/E 22.6+27%Trading above its usual valuation
2026-10-03P/E 25.4+43%Significantly overvalued (recalculated)
2026-10-05P/E 25.4+43%Significantly overvalued ← now

Frequently asked questions

Is NetApp stock overvalued?

At a blended P/E of 25.4 versus its historical normal P/E of 17.8, NetApp trades about 43% above its typical valuation, with a PEG of 2.13 on 11.9% forward growth. tickerseer currently rates it significantly overvalued.

What is NetApp's fair value and PEG?

NetApp trades at a blended P/E of 25.4 against a historical normal P/E of 17.8, a PEG of 2.13, and a forward growth estimate of 11.9%. Priced at its historical normal P/E of 17.8 on the same blended earnings, the 2026-10-02 close of $226.27 corresponds to about $159 a share. This is a valuation reference, not a price target.

Has tickerseer's rating of NetApp changed?

tickerseer's rating moved from mixed on our tests (2026-06-03) to significantly overvalued (2026-10-05).

What is the analyst price target for NetApp?

The mean Wall Street price target for NetApp is $201.06 across 16 analysts, 13.0% below the current price. tickerseer's SeerForecast verdict is formed independently of analyst targets.

Industry: Technology Hardware Storage & Peripherals. Create a free account to see the full analysis: the SeerAI score, its five quality sub-scores, valuation history, and the AI research note. Options setups and metric history are part of the paid plans.

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