NetApp Inc. [NASDAQ: NTAP] stock went on an upward path that rose over 0.46% on Wednesday, amounting to a one-week price decrease of less than -1.47%. The company report on June 3, 2021 that NetApp Reports Fourth Quarter and Fiscal Year 2021 Results.
Net revenues for the fourth quarter grew 11% year-over-year to $1.56 billion.
NetApp™ public cloud services annualized revenue run rate (ARR)1 increased 171% year-over-year to $301 million.
Over the last 12 months, NTAP stock rose by 74.58%. The one-year NetApp Inc. stock forecast points to a potential upside of 1.08. The average equity rating for NTAP stock is currently 2.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $17.51 billion, with 223.00 million shares outstanding and 221.47 million shares in the current float. Compared to the average trading volume of 1.63M shares, NTAP stock reached a trading volume of 2954316 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $77.90 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 2.50. 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.
Daiwa Securities have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 26, 2021. While these analysts kept the previous recommendation, Cowen raised their target price from $60 to $68. The new note on the price target was released on February 25, 2021, representing the official price target for NetApp Inc. stock.
The Average True Range (ATR) for NetApp Inc. is set at 1.72, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 3.13. The Price to Book ratio for the last quarter was 36.01, with the Price to Cash per share for the same quarter was set at 17.14.
NTAP Stock Performance Analysis:
NetApp Inc. [NTAP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.47. With this latest performance, NTAP shares gained by 3.70% in over the last four-week period, additionally plugging by 44.55% over the last 6 months – not to mention a rise of 74.58% 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 50.07, with the RSI for the last a single of trading hit 46.46, and the three-weeks RSI is set at 52.33 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 75.78, while it was recorded at 77.91 for the last single week of trading, and 60.85 for the last 200 days.
Insight into NetApp Inc. 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 1.70.
NTAP Stock EPS
With the latest financial reports released by the company, NetApp Inc. posted 0.73/share EPS, while the average EPS was predicted by analysts to be reported at 0.41/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 78.00%. 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 7.66%.
NetApp Inc. [NTAP] Insider Position Details
There are presently around $15,780 million, or 94.40% of NTAP stock, in the hands of institutional investors. The top three institutional holders of NTAP stocks are: CAPITAL INTERNATIONAL INVESTORS with ownership of 25,905,967, which is approximately -3.928% of the company’s market cap and around 0.10% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 25,901,522 shares of the stock with an approximate value of $2.0 billion in NTAP stocks shares; and VANGUARD GROUP INC, currently with $1.93 billion in NTAP stock with ownership of nearly 0.782% of the company’s market capitalization.
Positions in NetApp Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 297 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 17,084,947 shares. Additionally, 282 investors decreased positions by around 17,577,796 shares, while 90 investors held positions by with 170,113,100 shares. The mentioned changes placed institutional holdings at 204,775,843 shares, according to the latest SEC report filing. NTAP stock had 76 new institutional investments in for a total of 4,529,304 shares, while 75 institutional investors sold positions of 5,070,009 shares during the same period.