Netapp Inc [NASDAQ: NTAP] loss -1.90% or -2.26 points to close at $116.82 with a heavy trading volume of 2448518 shares.
The daily chart for NTAP points out that the company has recorded 11.47% gains over the past six months.
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If we look at the average trading volume of 1.83M shares, NTAP reached to a volume of 2448518 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 $131.94 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.
Loop Capital have made an estimate for Netapp Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 03, 2024. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $95 to $125. The new note on the price target was released on May 31, 2024, representing the official price target for Netapp Inc stock. Previously, the target price had yet another raise from $120 to $135, while TD Cowen kept a Buy rating on NTAP stock.
The Average True Range (ATR) for Netapp Inc is set at 3.49, with the Price to Sales ratio for NTAP stock in the period of the last 12 months amounting to 3.75. The Price to Book ratio for the last quarter was 25.78, with the Price to Cash per share for the same quarter was set at 14.73. Price to Free Cash Flow for NTAP in the course of the last twelve months was 16.94 with Quick ratio for the last quarter at 0.90.
Trading performance analysis for NTAP stock
Netapp Inc [NTAP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.44. With this latest performance, NTAP shares dropped by -0.22% in over the last four-week period, additionally plugging by 11.47% over the last 6 months – not to mention a rise of 46.96% 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 35.03, with the RSI for the last a single of trading hit 28.28, and the three-weeks RSI is set at 39.40 for Netapp Inc [NTAP]. The present Moving Average for the last 50 days of trading for this stock 126.78, while it was recorded at 118.95 for the last single week of trading, and 105.97 for the last 200 days.
Netapp Inc [NTAP]: A deeper dive into fundamental analysis
Netapp Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.94.
Netapp Inc [NTAP]: An earnings per share (EPS) analysis
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 7.40%.
An analysis of Institutional ownership at Netapp Inc [NTAP]
There are presently around $94.62%, or 95.02%% of NTAP stock, in the hands of institutional investors. The top three institutional holders of NTAP stocks are: VANGUARD GROUP INC with ownership of 25.77 million shares, which is approximately 12.389%. BLACKROCK INC., holding 21.21 million shares of the stock with an approximate value of $$2.73 billion in NTAP stocks shares; and BLACKROCK INC., currently with $$1.78 billion in NTAP stock with ownership which is approximately 6.6283%.
