13 Cheap AI Stocks to Buy According to Analysts

Page 4 of 11

8. NetApp, Inc. (NASDAQ:NTAP)

Number of Hedge Fund Holders: 41

Average Upside Potential: ~16.2%

Forward P/E as of May 12: ~12.6x

NetApp, Inc. (NASDAQ:NTAP) caters to the broader AI industry by its emphasis on offering data storage as well as management solutions, which are important for AI workloads. Loop Capital provided the price target of $130, keeping a “Buy” rating on the company’s shares. NetApp, Inc. (NASDAQ:NTAP)’s all-flash array annualized net revenue run rate amounted to $3.8 billion, reflecting an increase of 10% YoY. Loop Capital believes that the demand for AI-driven workloads has been accelerating. NetApp, Inc. (NASDAQ:NTAP) continues to see growth in demand for AI solutions, with the large market opportunity for enterprise GenAI beginning to open and customers seeking a unified and structured view of their data assets.

In Q3 2025, the company’s AI business managed to perform ahead of its expectations, evidenced by the fact that there were more than 100 AI infrastructure and data lake modernization wins. Overall, NetApp, Inc. (NASDAQ:NTAP) remains well-placed to capitalize on the opportunities provided by the AI industry as a result of its high-performance storage solutions and data management systems, which are tailored to the demands of AI workloads. During Q3 2025, NetApp, Inc. (NASDAQ:NTAP) delivered significant intelligent data infrastructure innovation as a result of the rollout of new all-flash NetApp™ AFF A-Series and C-Series systems. The company also enhanced StorageGRID™ object storage capabilities and expanded the cloud storage offerings.

Page 4 of 11