NetApp Inc. [NTAP] is -25.03% lower this YTD. Is it still time to buy?

NetApp Inc. [NASDAQ: NTAP] traded at a low on 10/14/20, posting a -0.45 loss after which it closed the day’ session at $46.67. The company report on September 23, 2020 that Spot by NetApp Delivers Availability, Automation, and Cost Savings for Cloud Workloads With Microsoft Azure Spot Virtual Machines.

New capabilities for Elastigroup from Spot by NetApp allow customers to effortlessly apply Azure Spot Virtual Machines to a broader swath of production workloads with up to 90 percent cost savings.

NetApp (NASDAQ: NTAP), a global cloud-led, data-centric software company, today announced the availability of Elastigroup for Microsoft Azure Spot Virtual Machines (VMs). NetApp recently acquired Spot, a leading cloud compute management and cost optimization company whose suite of tools includes Elastigroup.

The results of the trading session contributed to over 1557730 shares changing hands. Over the past one week, the price volatility of NetApp Inc. stands at 3.18% while the volatility over the past one month is 2.95%.

The market cap for NTAP stock reached $10.45 billion, with 222.00 million shares outstanding and 221.31 million shares in the current float. Compared to the average trading volume of 2.92M shares, NTAP reached a trading volume of 1557730 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $49.70 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.

Morgan Stanley have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on October 13, 2020. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $46 to $52. 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 $51 to $57, while Northland Capital kept a Outperform rating on NTAP stock. On August 27, 2020, analysts increased their price target for NTAP shares from 34 to 38.

The Average True Range (ATR) for NetApp Inc. is set at 1.43, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 1.91. The Price to Book ratio for the last quarter was 36.18, with the Price to Cash per share for the same quarter was set at 16.85.

How has NTAP stock performed recently?

NetApp Inc. [NTAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.66. With this latest performance, NTAP shares gained by 2.84% in over the last four-week period, additionally plugging by 13.25% over the last 6 months – not to mention a drop of -12.01% 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 64.20, with the RSI for the last a single of trading hit 68.24, and the three-weeks RSI is set at 58.69 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 43.81, while it was recorded at 46.47 for the last single week of trading, and 46.08 for the last 200 days.

NetApp Inc. [NTAP]: Deeper insight into the 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 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.

Earnings analysis for NetApp Inc. [NTAP]

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%.

Insider trade positions for NetApp Inc. [NTAP]

There are presently around $9,777 million, or 97.10% 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 $1.26 billion in NTAP stocks shares; and VANGUARD GROUP INC, currently with $1.21 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 261 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 19,148,040 shares. Additionally, 235 investors decreased positions by around 12,370,141 shares, while 66 investors held positions by with 177,979,053 shares. The mentioned changes placed institutional holdings at 209,497,234 shares, according to the latest SEC report filing. NTAP stock had 71 new institutional investments in for a total of 2,553,717 shares, while 51 institutional investors sold positions of 806,716 shares during the same period.

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