NetApp Inc. (NASDAQ: NTAP)’s stock price has decreased by -0.11 compared to its previous closing price of 61.12. Despite this, the company has experienced a -5.87% fall in its stock price over the last five trading sessions. Barron’s reported on 01/31/23 that NetApp to Cut 8% of Its Work Force
Is It Worth Investing in NetApp Inc. (NASDAQ: NTAP) Right Now?
NetApp Inc. (NASDAQ: NTAP) has a higher price-to-earnings ratio of 10.54x compared to its average ratio,, and the 36-month beta value for NTAP is at 1.18. Analysts have varying views on the stock, with 5 analysts rating it as a “buy,” 2 rating it as “overweight,” 15 as “hold,” and 1 as “sell.”
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The average price suggested by analysts for NTAP is $71.26, which is $12.0 above the current market price. The public float for NTAP is 213.31M, and currently, shorts hold a 2.35% of that float. The average trading volume for NTAP on March 16, 2023 was 1.77M shares.
NTAP’s Market Performance
The stock of NetApp Inc. (NTAP) has seen a -5.87% decrease in the past week, with a -9.85% drop in the past month, and a -6.49% fall in the past quarter. The volatility ratio for the week is 2.50%, and the volatility levels for the past 30 days are at 2.30% for NTAP. The simple moving average for the last 20 days is -6.24% for NTAP stock, with a simple moving average of -9.21% for the last 200 days.
Analysts’ Opinion of NTAP
Barclays, on the other hand, stated in their research note that they expect to see NTAP reach a price target of $71, previously predicting the price at $83. The rating they have provided for NTAP stocks is “Equal Weight” according to the report published on January 10th, 2023.
JP Morgan gave a rating of “Neutral” to NTAP, setting the target price at $71 in the report published on December 20th of the previous year.
NTAP Trading at -6.31% 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 -32.32% of loss for the given period.
Volatility was left at 2.30%, however, over the last 30 days, the volatility rate increased by 2.50%, as shares sank -9.85% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +1.65% upper at present.
During the last 5 trading sessions, NTAP fell by -5.87%, which changed the moving average for the period of 200-days by -13.39% in comparison to the 20-day moving average, which settled at $64.78. In addition, NetApp Inc. saw 1.65% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NTAP starting from Kurian George, who sale 4,500 shares at the price of $65.04 back on Mar 07. After this action, Kurian George now owns 147,170 shares of NetApp Inc., valued at $292,672 using the latest closing price.
Kurian George, the Chief Executive Officer of NetApp Inc., sale 4,500 shares at $65.87 during a trade that took place back on Feb 07, which means that Kurian George is holding 150,226 shares at $296,402 based on the most recent closing price.
Stock Fundamentals for NTAP
Current profitability levels for the company are sitting at:
- +19.13 for the present operating margin
- +66.62 for the gross margin
The net margin for NetApp Inc. stands at +14.81. Equity return is now at value 135.60, with 13.20 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 1.48.
Conclusion
In conclusion, NetApp Inc. (NTAP) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
