NetApp Inc. [NASDAQ: NTAP] jumped around 1.82 points on Thursday, while shares priced at $44.11 at the close of the session, up 4.30%. The company report on October 26, 2020 that NetApp Brings Optimization and Enterprise Data Services to the Cloud.
Among the newly introduced capabilities, Spot by NetApp’s Kubernetes optimization enables organizations to save up to 90% on compute and storage.
Global, cloud-led, data-centric software company NetApp® (NASDAQ: NTAP) today unveiled a groundbreaking serverless and storageless solution for containers from Spot by NetApp, a new autonomous hybrid cloud volume platform, and cloud-based virtual desktop solutions. NetApp’s new capabilities help simplify and optimize multicloud management for the highest performance at a low cost, offering true portability for data-rich cloud applications and delivering comprehensive workplace solutions across hybrid cloud environments.
NetApp Inc. stock is now -29.14% down from its year-to-date (YTD) trading value. NTAP Stock saw the intraday high of $44.35 and lowest of $42.20 per share. The company’s 52-week high price is 65.38, which means current price is +27.26% above from all time high which was touched on 01/16/20.
Compared to the average trading volume of 2.92M shares, NTAP reached a trading volume of 2724152 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 $50.25 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.
Summit Insights have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 23, 2020. The new note on the price target was released on October 13, 2020, representing the official price target for NetApp Inc. stock. Previously, the target price had yet another raise from $46 to $52, while Wells Fargo kept a Equal Weight rating on NTAP stock. On August 27, 2020, analysts increased their price target for NTAP shares from 51 to 57.
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 1.78. The Price to Book ratio for the last quarter was 34.19, with the Price to Cash per share for the same quarter was set at 17.06.
How has NTAP stock performed recently?
NetApp Inc. [NTAP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.55. With this latest performance, NTAP shares gained by 0.62% in over the last four-week period, additionally plugging by 6.34% over the last 6 months – not to mention a drop of -21.75% 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 44.18, with the RSI for the last a single of trading hit 42.44, and the three-weeks RSI is set at 47.59 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 44.59, while it was recorded at 44.45 for the last single week of trading, and 45.15 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 $9,268 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 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 259 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 19,140,409 shares. Additionally, 235 investors decreased positions by around 12,295,475 shares, while 71 investors held positions by with 178,680,625 shares. The mentioned changes placed institutional holdings at 210,116,509 shares, according to the latest SEC report filing. NTAP stock had 63 new institutional investments in for a total of 2,296,639 shares, while 54 institutional investors sold positions of 816,702 shares during the same period.