For NetApp Inc. [NTAP], BofA/Merrill sees a rise to $55. What next?

NetApp Inc. [NASDAQ: NTAP] loss -2.06% on the last trading session, reaching $42.21 price per share at the time. The company report on August 6, 2020 that NetApp Hosts First Quarter of Fiscal Year 2021 Financial Results Webcast.

After market close on Wednesday, August 26, 2020, NetApp (NASDAQ: NTAP) will announce financial results for the first quarter of fiscal year 2021, which ended July 31, 2020.

NetApp executive management will host a conference call at 2:00 p.m. Pacific Time to discuss these results and provide their perspective on market dynamics. The call will be broadcast live via the Internet.

NetApp Inc. represents 221.00 million in outstanding shares, while the company has a total market value of $9.06 billion with the latest information. NTAP stock price has been found in the range of $41.88 to $42.87.

If compared to the average trading volume of 2.48M shares, NTAP reached a trading volume of 3683363 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 $47.33 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 2.90. 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.

BofA/Merrill have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 26, 2020. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Hold. The new note on the price target was released on June 18, 2020, representing the official price target for NetApp Inc. stock. Previously, the target price had yet another drop from $63 to $60, while Susquehanna kept a Positive rating on NTAP stock. On May 28, 2020, analysts increased their price target for NTAP shares from 32 to 34.

The Average True Range (ATR) for NetApp Inc. is set at 1.41, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 1.67. The Price to Book ratio for the last quarter was 38.37, with the Price to Cash per share for the same quarter was set at 13.43. Price to Free Cash Flow for NTAP in the course of the last twelve months was 18.22 with Quick ratio for the last quarter at 1.10.

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 -1.49. With this latest performance, NTAP shares dropped by -3.54% in over the last four-week period, additionally sinking by -27.41% over the last 6 months – not to mention a drop of -8.77% 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 41.91, with the RSI for the last a single of trading hit 40.29, and the three-weeks RSI is set at 45.80 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 43.87, while it was recorded at 43.12 for the last single week of trading, and 50.00 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 Total Capital for NTAP is now 37.72, given the latest momentum, and Return on Invested Capital for the company is 44.09. Return on Equity for this stock inclined to 122.97, with Return on Assets sitting at 10.07. When it comes to the capital structure of this company, NetApp Inc. [NTAP] has a Total Debt to Total Equity ratio set at 748.76. Additionally, NTAP Total Debt to Total Capital is recorded at 88.22, with Total Debt to Total Assets ending up at 24.09. Long-Term Debt to Equity for the company is recorded at 511.98, with the Long-Term Debt to Total Capital now at 60.32.

Reflecting on the efficiency of the workforce at the company, NetApp Inc. [NTAP] managed to generate an average of $75,833 per employee. Receivables Turnover for the company is 4.94 with a Total Asset Turnover recorded at a value of 0.67.NetApp Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 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 $8,745 million, or 98.99% 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 $1.09 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 223 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 12,812,311 shares. Additionally, 284 investors decreased positions by around 19,162,425 shares, while 77 investors held positions by with 175,195,554 shares. The mentioned changes placed institutional holdings at 207,170,290 shares, according to the latest SEC report filing. NTAP stock had 54 new institutional investments in for a total of 1,233,735 shares, while 80 institutional investors sold positions of 1,824,685 shares during the same period.

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