NetApp Inc. [NASDAQ: NTAP] gained 2.27% or 1.42 points to close at $64.07 with a heavy trading volume of 3121076 shares. The company report on December 2, 2020 that NetApp Reports Second Quarter of Fiscal Year 2021 Results.
Net Revenues of $1.42 Billion; Up 3% Year-over-Year.
NetApp™ public cloud services annualized revenue run rate of $216 million, an increase of 200% year-over-year.
It opened the trading session at $64.01, the shares rose to $65.04 and dropped to $63.93, the range by which the price of stock traded the whole day. The daily chart for NTAP points out that the company has recorded 49.73% gains over the past six months. However, it is still -84.85% lower than its most recent low trading price.
If we look at the average trading volume of 2.20M shares, NTAP reached to a volume of 3121076 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 $61.22 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 2.70. 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 December 16, 2020. While these analysts kept the previous recommendation, Loop Capital raised their target price from $47 to $70. The new note on the price target was released on December 02, 2020, representing the official price target for NetApp Inc. stock. Previously, the target price had yet another raise from $36 to $56, while Goldman kept a Neutral rating on NTAP stock.
The Average True Range (ATR) for NetApp Inc. is set at 1.84, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 2.56. 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 16.51.
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 5.41. With this latest performance, NTAP shares gained by 24.21% in over the last four-week period, additionally plugging by 49.73% over the last 6 months – not to mention a rise of 0.96% 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 81.25, with the RSI for the last a single of trading hit 86.37, and the three-weeks RSI is set at 77.04 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 51.09, while it was recorded at 62.27 for the last single week of trading, and 44.95 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 1.70.
NetApp Inc. [NTAP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, NetApp Inc. posted 1.16/share EPS, while the average EPS was predicted by analysts to be reported at 1.18/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -1.70%. 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 5.00%.
An analysis of insider ownership at NetApp Inc. [NTAP]
There are presently around $13,210 million, or 95.10% 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 29,121,858, which is approximately -2.035% of the company’s market cap and around 0.29% of the total institutional ownership; CAPITAL INTERNATIONAL INVESTORS, holding 26,467,846 shares of the stock with an approximate value of $1.7 billion in NTAP stocks shares; and VANGUARD GROUP INC, currently with $1.61 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 12,482,234 shares. Additionally, 253 investors decreased positions by around 15,518,266 shares, while 78 investors held positions by with 178,186,776 shares. The mentioned changes placed institutional holdings at 206,187,276 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 55 institutional investors sold positions of 1,187,678 shares during the same period.