NetApp Inc. [NTAP] Revenue clocked in at $5.48 billion, down -29.33% YTD: What’s Next?

NetApp Inc. [NASDAQ: NTAP] gained 0.89% or 0.39 points to close at $43.99 with a heavy trading volume of 1738077 shares.

It opened the trading session at $43.71, the shares rose to $44.27 and dropped to $43.495, the range by which the price of stock traded the whole day. The daily chart for NTAP points out that the company has recorded 5.52% gains over the past six months. However, it is still -26.92% lower than its most recent low trading price.

If we look at the average trading volume of 2.95M shares, NTAP reached to a volume of 1738077 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 $49.42 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.

Wells Fargo have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on August 27, 2020. While these analysts kept the previous recommendation, Northland Capital raised their target price from $51 to $57. The new note on the price target was released on August 27, 2020, representing the official price target for NetApp Inc. stock. Previously, the target price had yet another raise from $34 to $38, while Morgan Stanley kept a Underweight rating on NTAP stock. On August 27, 2020, analysts increased their price target for NTAP shares from 43 to 45.

The Average True Range (ATR) for NetApp Inc. is set at 1.54, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 1.76. The Price to Book ratio for the last quarter was 34.10, with the Price to Cash per share for the same quarter was set at 17.19.

Trading performance analysis for NTAP stock

NetApp Inc. [NTAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.04. With this latest performance, NTAP shares dropped by -3.83% in over the last four-week period, additionally plugging by 5.52% over the last 6 months – not to mention a drop of -16.23% 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 51.32, with the RSI for the last a single of trading hit 54.96, and the three-weeks RSI is set at 51.21 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 43.57, while it was recorded at 42.45 for the last single week of trading, and 47.06 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 1.60 and a Current Ratio set at 1.60.

NetApp Inc. [NTAP]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, NetApp Inc. posted 1.09/share EPS, while the average EPS was predicted by analysts to be reported at 0.94/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 16.00%. 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 3.91%.

An analysis of insider ownership at NetApp Inc. [NTAP]

There are presently around $9,227 million, or 96.90% 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 29,726,938, which is approximately -3.23% of the company’s market cap and around 0.30% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 26,857,101 shares of the stock with an approximate value of $1.18 billion in NTAP stocks shares; and VANGUARD GROUP INC, currently with $1.14 billion in NTAP stock with ownership of nearly -5.534% of the company’s market capitalization.

Positions in NetApp Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 260 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 18,947,944 shares. Additionally, 240 investors decreased positions by around 12,962,650 shares, while 69 investors held positions by with 177,837,211 shares. The mentioned changes placed institutional holdings at 209,747,805 shares, according to the latest SEC report filing. NTAP stock had 73 new institutional investments in for a total of 2,548,186 shares, while 50 institutional investors sold positions of 804,513 shares during the same period.

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