NetApp Inc. [NASDAQ: NTAP] loss -3.32% or -1.84 points to close at $53.52 with a heavy trading volume of 2575686 shares. The company report on November 25, 2020 that NetApp to Participate in Upcoming Virtual Investor/Technology Conferences.
NetApp (NASDAQ: NTAP), a global cloud-led, data centric software company, announced the Company will participate virtually in fireside chats at the following conferences:.
Credit Suisse Technology ConferenceMike Berry, executive vice president, finance and chief financial officerDecember 3, 202010:30 – 11:00 a.m. Pacific Time.
It opened the trading session at $54.65, the shares rose to $55.26 and dropped to $53.31, the range by which the price of stock traded the whole day. The daily chart for NTAP points out that the company has recorded 20.16% gains over the past six months. However, it is still -54.41% lower than its most recent low trading price.
If we look at the average trading volume of 2.45M shares, NTAP reached to a volume of 2575686 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 $50.81 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 2.80. 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 1.65, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 2.17. The Price to Book ratio for the last quarter was 41.49, with the Price to Cash per share for the same quarter was set at 16.97.
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 3.84. With this latest performance, NTAP shares gained by 21.50% in over the last four-week period, additionally plugging by 20.16% over the last 6 months – not to mention a drop of -11.55% 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 65.51, with the RSI for the last a single of trading hit 65.54, and the three-weeks RSI is set at 63.49 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 46.41, while it was recorded at 53.26 for the last single week of trading, and 44.30 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 4.77%.
An analysis of insider ownership at NetApp Inc. [NTAP]
There are presently around $11,036 million, in the hands of institutional investors. The top three institutional holders of NTAP stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 29,121,858, which is approximately -2.035% of the company’s market cap and around 0.30% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 26,467,846 shares of the stock with an approximate value of $1.42 billion in NTAP stocks shares; and VANGUARD GROUP INC, currently with $1.35 billion in NTAP stock with ownership of nearly -2.921% of the company’s market capitalization.
Positions in NetApp Inc. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 252 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 12,489,996 shares. Additionally, 255 investors decreased positions by around 15,510,675 shares, while 77 investors held positions by with 178,198,443 shares. The mentioned changes placed institutional holdings at 206,199,114 shares, according to the latest SEC report filing. NTAP stock had 69 new institutional investments in for a total of 1,783,415 shares, while 56 institutional investors sold positions of 1,191,293 shares during the same period.