NetApp Inc. [NASDAQ: NTAP] stock went on a downward path that fall over -0.88% on Thursday, amounting to a one-week price increase of more than 4.01%. Over the last 12 months, NTAP stock dropped by -30.67%. The one-year NetApp Inc. stock forecast points to a potential upside of 9.52. The average equity rating for NTAP stock is currently 3.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $9.17 billion, with 226.00 million shares outstanding and 220.31 million shares in the current float. Compared to the average trading volume of 2.37M shares, NTAP stock reached a trading volume of 1715759 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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.
Deutsche Bank have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on June 18, 2020. While these analysts kept the previous recommendation, Susquehanna dropped their target price from $63 to $60. 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 raise from $32 to $34, while Morgan Stanley kept a Underweight rating on NTAP stock. On May 28, 2020, analysts decreased their price target for NTAP shares from 56 to 50.
The Average True Range (ATR) for NetApp Inc. is set at 1.97, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 1.69. The Price to Book ratio for the last quarter was 34.23, 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 16.64 with Quick ratio for the last quarter at 1.20.
NTAP Stock Performance Analysis:
NetApp Inc. [NTAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.01. With this latest performance, NTAP shares dropped by -4.23% in over the last four-week period, additionally sinking by -32.57% over the last 6 months – not to mention a drop of -30.67% 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 47.40, with the RSI for the last a single of trading hit 43.65, and the three-weeks RSI is set at 47.60 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 43.33, while it was recorded at 43.16 for the last single week of trading, and 51.66 for the last 200 days.
Insight into NetApp Inc. Fundamentals:
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.
NTAP Stock EPS
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%.
NetApp Inc. [NTAP] Insider Position Details
There are presently around $8,806 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 $1.18 billion in NTAP stocks shares; and CAPITAL INTERNATIONAL INVESTORS, currently with $1.12 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.