NetApp Inc. [NASDAQ: NTAP] gained 3.21% on the last trading session, reaching $42.46 price per share at the time. NetApp Inc. represents 226.00 million in outstanding shares, while the company has a total market value of $9.10 billion with the latest information. NTAP stock price has been found in the range of $41.225 to $43.04.
If compared to the average trading volume of 2.46M shares, NTAP reached a trading volume of 2474707 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about NetApp Inc. [NTAP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NTAP shares is $47.29 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NTAP stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Susquehanna have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Positive, with their previous recommendation back on May 28, 2020. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $32 to $34. The new note on the price target was released on May 28, 2020, representing the official price target for NetApp Inc. stock. Previously, the target price had yet another drop from $56 to $50, while Lake Street kept a Hold rating on NTAP stock. On May 28, 2020, analysts decreased their price target for NTAP shares from 58 to 45.
The Average True Range (ATR) for NetApp Inc. is set at 1.99, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 1.68. The Price to Book ratio for the last quarter was 33.97, with the Price to Cash per share for the same quarter was set at 14.04. Price to Free Cash Flow for NTAP in the course of the last twelve months was 16.51 with Quick ratio for the last quarter at 1.20.
Trading performance analysis for NTAP stock
NetApp Inc. [NTAP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.65. With this latest performance, NTAP shares gained by 2.41% in over the last four-week period, additionally sinking by -30.00% over the last 6 months – not to mention a drop of -31.69% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NTAP stock in for the last two-week period is set at 45.58, with the RSI for the last a single of trading hit 41.62, and the three-weeks RSI is set at 46.91 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 42.99, while it was recorded at 45.11 for the last single week of trading, and 51.74 for the last 200 days.
NetApp Inc. [NTAP]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and NetApp Inc. [NTAP] shares currently have an operating margin of +17.20 and a Gross Margin at +66.94. NetApp Inc.’s Net Margin is presently recorded at +15.13.
Return on Equity for this stock inclined to 122.97, with Return on Assets sitting at 10.07.
NetApp Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.20 and a Current Ratio set at 1.20.
NetApp Inc. [NTAP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, NetApp Inc. posted 0.65/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NTAP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NetApp Inc. go to 6.09%.
An analysis of insider ownership at NetApp Inc. [NTAP]
There are presently around $8,661 million, or 94.40% of NTAP stock, in the hands of institutional investors. The top three institutional holders of NTAP stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 30,719,238, which is approximately -5.673% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 27,410,802 shares of the stock with an approximate value of $1.16 billion in NTAP stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $1.1 billion in NTAP stock with ownership of nearly -5.773% of the company’s market capitalization.
Positions in NetApp Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 217 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 9,933,779 shares. Additionally, 311 investors decreased positions by around 20,445,543 shares, while 75 investors held positions by with 173,608,674 shares. The mentioned changes placed institutional holdings at 203,987,996 shares, according to the latest SEC report filing. NTAP stock had 54 new institutional investments in for a total of 2,052,854 shares, while 102 institutional investors sold positions of 2,387,426 shares during the same period.