Why is NTAP stock moving today? NetApp closed at $169.19 on November 6, 2026, down 0.11% on the session and 28.24% over the month, and that close is the lowest price the stock has printed in a month. It is 24 days from the December 1 earnings print.

So the question on a move like this is whether NetApp moved on its own news or with the complex it trades in. The common move is not in dispute: on November 5 the AI hardware complex came apart, and NetApp fell 9.75% inside it, with Marvell down 16.43%, Dell 14.89% and Applied Materials 13.58%.

What makes NTAP different is the session after. On November 6 four of the five names that fell hardest came back, with Marvell adding 5.73%, Applied Materials 4.22% and Dell 3.67%, while NetApp slipped 0.11%. That is the session the move is really about.

What the scanner row says about NetApp

Score 58 at rank 38 of the 49 rows we scan, sector Technology, print date December 1, earnings sentiment Positive, short interest 4.9% of float, market capitalization $33.23 billion, implied volatility 70.1, and a scan price of $169.19.

Decomposed, the 58 is 21 points for analyst coverage, 9.5 for a 38.1% buy-side share, 2 for one strong buy, 10.9 for a 10.9% fourteen-day implied move, and the full 15 for a Positive sentiment reading. That totals 58.4.

Read the other way, most of that 58 is absence rather than enthusiasm. Twenty-one points come from the fact that analysts cover the name and 15 more from a clean earnings history, while what they actually say is worth 11.5.

What moved NTAP on Dec 1?

Nothing yet, and December 1, 2026 is still 24 days away. What will move NetApp that day is the print, and the options market has already drawn the band it expects the stock to travel inside.

The band around the $169.19 scan price runs from $160.62 to $177.76 over three days, which is 5.1% of room either side. Seven days out it is $156.09 to $182.29, and fourteen days out it is $150.67 to $187.71.

December 1 carries seven names in our table. Marvell is the widest event on that date at a 17.3% fourteen-day move, Asana prices 13.4% and Okta 12.8%, while NetApp sits at 10.9%.

The measurement behind all three columns is a $17.85 at-the-money straddle on a 13-day expiry, scaled by the square root of time, so the column moves with the expiry the chain offers as much as with the market.

The November 5 selloff was the complex, not NetApp

NetApp's own news did not move it. The company's print is December 1, and the settled closes show nothing that isolates NetApp from the group on November 5.

The names that share that session fell together: Marvell lost 16.43%, Dell 14.89%, Applied Materials 13.58%, HPE 11.84%, Analog Devices 11.13%, NetApp 9.75% and Nutanix 8.08%. NetApp fell less than five of the six around it.

By contrast the application software names barely moved that day. Salesforce was down 2.07%, Adobe 0.34%, Workday 0.83% and Intuit 0.50%. This was a hardware session, and NetApp was inside it.

November 6 is the harder session to explain: four of the five names that fell hardest came back and NetApp did not. No headline we can confirm moved NetApp on either day, and we would rather leave that open than name one we cannot check.

Where the last month took the price

The settled closes say one long slide with a sharp final leg. NetApp closed at $235.77 on October 7 and reached $239.18 on October 12, the high close of the past month.

From there it broke lower: $223.66 on October 28, $218.42 on October 29, then $199.18 on October 30, an 8.80% fall in one session. It recovered to $190.78 on November 3, slipped to $187.67 on November 4, then took the two steps that mattered, $169.38 on November 5 and $169.19 on November 6.

From the October 12 high close of $239.18 to the November 6 close of $169.19 is a fall of 29.3%, and the week from the October 30 close took 15.06% off it. Getting back to the October 7 close would take a 39.4% rally from here.

How does NetApp's book compare with the names printing around it?

NetApp's book is the weakest among the four December 1 names scoring above 80. Of 21 ratings, 7 are buys, 1 is a strong buy, 13 are holds and not one is a sell, so 8 of 21 are on the buy side, 38.1%.

The other three are far more decisive. Marvell's 39 bullish ratings out of 44 is 88.6%, MongoDB's 33 out of 41 is 80.5%, CrowdStrike's 41 out of 53 is 77.4% and Okta's 34 out of 44 is 77.3%. Only Asana at 33.3% and GitLab at 32.1% sit lower.

Sentiment separates them as well. Marvell and CrowdStrike carry a Mixed earnings reading worth 7 points, and Marvell still scores 83. NetApp's Positive reading is worth the full 15 and it scores 58, which says how much of the gap is conviction rather than coverage.

Valuation is the third separator. NetApp's PEG ratio is 1.88, against Marvell at 0.35 and Okta at 1.21, though CrowdStrike sits higher at 5.6 on its trailing numbers. On forward earnings it is not expensive, at 15.1 times against 10.8 for Dell and 9.5 for HPE.

What has to change before the December 1 print?

The price first, because that is where the damage is. NetApp closed the month at its low, and the row's marks sit close to it: the downside mark is $160.62 and the post-earnings target is $177.76, both 5.1% from the scan price.

Second the book, because 13 holds out of 21 ratings is why the conviction column reads 9.5 of 25. Upgrades are the only thing that moves it, and a rating change is slower than a price move.

Third the implied move, because it is the one column that can move on its own. It is worth 10.9 of the 58.4 points, and a wider premium puts those points back on the row.

And one thing that is not a lever. Short interest is 4.9% of float, against 3.3% for Marvell, 2.4% for CrowdStrike and 4.7% for Okta. There is no crowded position to squeeze and no cheap volatility sitting behind it.

Our scan runs at 6:30 Pacific time and every figure on this page comes from it, published in full at our open data.

So why is NTAP stock moving today? On the record we hold, what moved NetApp was a 29.3% slide from the October 12 close of $239.18 to $169.19, in a complex that broke on November 5 and did not bring NetApp back on November 6.

What will move it on December 1 is a print the options market is charging 10.9% for over fourteen days, on a book where 13 of 21 analysts are on hold. The reader decides whether a name at a one-month low with that book is cheap or unfinished.

Frequently asked questions about NetApp

When does NetApp report earnings?

NetApp reports on December 1, 2026, which is 24 days after our November 7 scan. Six other names print on that date, including Marvell, Okta, CrowdStrike and MongoDB.

Is NTAP a buy before the December 1 earnings report?

On the row the case is a cheap event against a soft book. A score of 58 with 13 holds out of 21 ratings is not strong, and the 10.9% fourteen-day implied move is the narrowest of the seven names printing that day.

Why is NTAP stock down this month?

The settled closes show a 29.3% fall from the October 12 close of $239.18 to $169.19 on November 6, with a 15.06% week behind it. NetApp did not report in that window, and the decline arrived alongside Marvell, Dell and Applied Materials.