Raymond James slashes price target on NetApp Inc. [NTAP] – find out why.

NetApp Inc. [NASDAQ: NTAP] closed the trading session at $81.96 on 07/01/21. The day’s price range saw the stock hit a low of $81.44, while the highest price level was $82.35. The company report on June 23, 2021 that SHAREHOLDER INVESTIGATION: Halper Sadeh LLP Investigates the Following Companies – RAVN, LDL, ICON, TGRF, INSW.

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Halper Sadeh LLP, a global investor rights law firm, announces it is investigating the following companies:.

Raven Industries, Inc. (NASDAQ: RAVN) concerning potential violations of the federal securities laws and/or breaches of fiduciary duties relating to its sale to CNH Industrial N.V. for $58.00 per share. If you are a Raven shareholder, click here to learn more about your rights and options.

The stocks have a year to date performance of 23.73 percent and weekly performance of 1.20 percent. The stock has been moved at 25.46 percent over the last six months. The stock has performed 6.36 percent around the most recent 30 days and changed 11.28 percent over the most recent 3-months.

If compared to the average trading volume of 1.65M shares, NTAP reached to a volume of 1044177 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $84.81 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 2.40. 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.

Raymond James have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 25, 2021. The new note on the price target was released on June 10, 2021, representing the official price target for NetApp Inc. stock. Previously, the target price had yet another raise from $68 to $76, while Cowen kept a Market Perform rating on NTAP stock.

The Average True Range (ATR) for NetApp Inc. is set at 1.62, 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 26.52, with the Price to Cash per share for the same quarter was set at 20.96. Price to Free Cash Flow for NTAP in the course of the last twelve months was 24.16 with Quick ratio for the last quarter at 1.70.

NTAP stock trade performance evaluation

NetApp Inc. [NTAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.20. With this latest performance, NTAP shares gained by 6.36% in over the last four-week period, additionally plugging by 25.46% over the last 6 months – not to mention a rise of 88.37% 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 55.50, with the RSI for the last a single of trading hit 54.47, and the three-weeks RSI is set at 56.20 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 79.05, while it was recorded at 82.34 for the last single week of trading, and 64.78 for the last 200 days.

NetApp Inc. [NTAP]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and NetApp Inc. [NTAP] shares currently have an operating margin of +16.17 and a Gross Margin at +66.21. NetApp Inc.’s Net Margin is presently recorded at +12.73.

Return on Total Capital for NTAP is now 33.76, given the latest momentum, and Return on Invested Capital for the company is 29.99. Return on Equity for this stock inclined to 157.50, with Return on Assets sitting at 8.65. When it comes to the capital structure of this company, NetApp Inc. [NTAP] has a Total Debt to Total Equity ratio set at 401.75. Additionally, NTAP Total Debt to Total Capital is recorded at 80.07, with Total Debt to Total Assets ending up at 29.40. Long-Term Debt to Equity for the company is recorded at 394.60, with the Long-Term Debt to Total Capital now at 78.64.

Reflecting on the efficiency of the workforce at the company, NetApp Inc. [NTAP] managed to generate an average of $66,364 per employee. Receivables Turnover for the company is 5.98 with a Total Asset Turnover recorded at a value of 0.68.NetApp Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.70 and a Current Ratio set at 1.70.

Earnings per share (EPS) analysis for NetApp Inc. [NTAP] stock

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 9.63%.

NetApp Inc. [NTAP]: Insider Ownership positions

There are presently around $16,785 million, or 94.10% 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 0.20% of the total institutional ownership; PRIMECAP MANAGEMENT CO/CA/, holding 25,901,522 shares of the stock with an approximate value of $2.12 billion in NTAP stocks shares; and VANGUARD GROUP INC, currently with $2.05 billion in NTAP stock with ownership of nearly 0.782% of the company’s market capitalization.

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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 300 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 17,120,073 shares. Additionally, 280 investors decreased positions by around 17,576,571 shares, while 90 investors held positions by with 170,096,172 shares. The mentioned changes placed institutional holdings at 204,792,816 shares, according to the latest SEC report filing. NTAP stock had 78 new institutional investments in for a total of 4,563,998 shares, while 74 institutional investors sold positions of 5,069,984 shares during the same period.

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