Is a Correction Looming Ahead for NetApp Inc. (NTAP)

NetApp Inc. (NASDAQ:NTAP) went up by 0.73% from its latest closing price compared to the recent 1-year high of $65.38. The company’s stock price has collected -3.91% of loss in the last five trading sessions. Press Release reported on 09/23/20 that Spot by NetApp Delivers Availability, Automation, and Cost Savings for Cloud Workloads With Microsoft Azure Spot Virtual Machines

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Is It Worth Investing in NetApp Inc. (NASDAQ :NTAP) Right Now?

NetApp Inc. (NASDAQ:NTAP) scored a price-to-earnings ratio above its average ratio, recording 11.99 x from its present earnings ratio. Plus, the 36-month beta value for NTAP is at 1.31. Opinions of the stock are interesting as 6 analysts out of 28 who provided ratings for NetApp Inc. declared the stock was a “buy,” while 0 rated the stock as “overweight,” 19 rated it as “hold,” and 3 as “sell.”

The average price from analysts is $49.68, which is $7.93 above the current price. NTAP currently public float of 221.35M and currently shorts hold a 7.46% ratio of that float. Today, the average trading volume of NTAP was 3.07M shares.

NTAP’s Market Performance

NTAP stocks went down by -3.91% for the week, with a monthly drop of -0.67% and a quarterly performance of -0.81%, while its annual performance rate touched -22.90%. The volatility ratio for the week stands at 3.06% while the volatility levels for the past 30 days are set at 3.67% for NetApp Inc.. The simple moving average for the period of the last 20 days is -7.12% for NTAP stocks with a simple moving average of -12.52% for the last 200 days.

Analysts’ Opinion of NTAP

Many brokerage firms have already submitted their reports for NTAP stocks, with Wells Fargo repeating the rating for NTAP by listing it as a “Equal Weight.” The predicted price for NTAP in the upcoming period, according to Wells Fargo is $52 based on the research report published on August 27th of the current year 2020.

Northland Capital, on the other hand, stated in their research note that they expect to see NTAP reach a price target of $57, previously predicting the price at $51. The rating they have provided for NTAP stocks is “Outperform” according to the report published on August 27th, 2020.

Morgan Stanley gave a rating of “Underweight” to NTAP, setting the target price at $38 in the report published on August 27th of the current year.

NTAP Trading at -5.11% from the 50-Day Moving Average

After a stumble in the market that brought NTAP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -36.54% of loss for the given period.

Volatility was left at 3.67%, however, over the last 30 days, the volatility rate increased by 3.06%, as shares sank -1.71% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.51% lower at present.

During the last 5 trading sessions, NTAP fell by -3.91%, which changed the moving average for the period of 200-days by -31.46% in comparison to the 20-day moving average, which settled at $44.63. In addition, NetApp Inc. saw -33.35% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at NTAP starting from NEVENS THOMAS MICHAEL, who sale 22,831 shares at the price of $44.62 back on Sep 11. After this action, NEVENS THOMAS MICHAEL now owns 0 shares of NetApp Inc., valued at $1,018,712 using the latest closing price.

HELD GERALD, the Director of NetApp Inc., sale 11,416 shares at $45.50 during a trade that took place back on Sep 10, which means that HELD GERALD is holding 14,750 shares at $519,434 based on the most recent closing price.

Stock Fundamentals for NTAP

Current profitability levels for the company are sitting at:

  • +17.20 for the present operating margin
  • +66.94 for the gross margin

The net margin for NetApp Inc. stands at +15.13. The total capital return value is set at 37.72, while invested capital returns managed to touch 44.09.

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Based on NetApp Inc. (NTAP), the company’s capital structure generated 748.76 points at debt to equity in total, while total debt to capital is 88.22. Total debt to assets is 24.09, with long-term debt to equity ratio resting at 511.98. Finally, the long-term debt to capital ratio is 60.32.

Currently, EBITDA for the company is 211.00M with total debt to EBITDA at 1.42. When we switch over and look at the enterprise to sales, we see a ratio of 1.66, with the company’s debt to enterprise value settled at 0.20. The receivables turnover for the company is 4.94 and the total asset turnover is 0.67. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.16.

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