NetApp Inc. [NASDAQ: NTAP] stock went on a downward path that fall over -0.87% on Thursday, amounting to a one-week price increase of more than 1.98%. The company report on November 29, 2022 that NetApp to Participate in Upcoming Technology Conferences.
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NetApp (NASDAQ: NTAP), a global cloud-led, data centric software company, today announced the Company will participate in fireside chats at the following conferences:.
Wells Fargo TMT Summit ConferenceKris Newton, VP, investor relationsDecember 1, 2022Presentation: 9:20 – 9:50 a.m. Pacific Time.
Over the last 12 months, NTAP stock dropped by -23.25%. The one-year NetApp Inc. stock forecast points to a potential upside of 14.39. 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 $13.97 billion, with 217.00 million shares outstanding and 214.91 million shares in the current float. Compared to the average trading volume of 1.69M shares, NTAP stock reached a trading volume of 2337661 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 $76.85 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.
Barclays have made an estimate for NetApp Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on January 10, 2023. The new note on the price target was released on December 20, 2022, representing the official price target for NetApp Inc. stock. Previously, the target price had yet another drop from $66 to $58, while Morgan Stanley kept a Underweight rating on NTAP stock.
The Average True Range (ATR) for NetApp Inc. is set at 1.49, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 11.88, with the Price to Cash per share for the same quarter was set at 14.28. Price to Free Cash Flow for NTAP in the course of the last twelve months was 30.71 with Quick ratio for the last quarter at 1.30.
NTAP Stock Performance Analysis:
NetApp Inc. [NTAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.98. With this latest performance, NTAP shares gained by 11.43% in over the last four-week period, additionally sinking by -6.77% over the last 6 months – not to mention a drop of -23.25% 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 57.53, with the RSI for the last a single of trading hit 60.71, and the three-weeks RSI is set at 54.10 for NetApp Inc. [NTAP]. The present Moving Average for the last 50 days of trading for this stock 65.44, while it was recorded at 66.30 for the last single week of trading, and 68.48 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 +19.13 and a Gross Margin at +66.62. NetApp Inc.’s Net Margin is presently recorded at +14.81.
Return on Equity for this stock inclined to 123.05, with Return on Assets sitting at 9.67.
NetApp Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.30 and a Current Ratio set at 1.40.
NTAP Stock EPS
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 8.19%.
NetApp Inc. [NTAP] Insider Position Details
There are presently around $12,487 million, or 91.40% of NTAP stock, in the hands of institutional investors. The top three institutional holders of NTAP stocks are: VANGUARD GROUP INC with ownership of 26,575,097, which is approximately 0.719% of the company’s market cap and around 0.20% of the total institutional ownership; BLACKROCK INC., holding 17,579,721 shares of the stock with an approximate value of $1.16 billion in NTAP stocks shares; and PRIMECAP MANAGEMENT CO/CA/, currently with $1.08 billion in NTAP stock with ownership of nearly -0.748% of the company’s market capitalization.
Positions in NetApp Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 284 institutional holders increased their position in NetApp Inc. [NASDAQ:NTAP] by around 7,708,976 shares. Additionally, 316 investors decreased positions by around 12,442,654 shares, while 114 investors held positions by with 169,642,063 shares. The mentioned changes placed institutional holdings at 189,793,693 shares, according to the latest SEC report filing. NTAP stock had 67 new institutional investments in for a total of 1,337,939 shares, while 46 institutional investors sold positions of 1,108,690 shares during the same period.