In the past week, NTAP stock has gone down by -0.54%, with a monthly gain of 0.86% and a quarterly surge of 21.13%. The volatility ratio for the week is 2.48%, and the volatility levels for the last 30 days are 1.66% for Netapp Inc The simple moving average for the past 20 days is -0.05% for NTAP’s stock, with a 24.36% simple moving average for the past 200 days.
Is It Worth Investing in Netapp Inc (NASDAQ: NTAP) Right Now?
Netapp Inc (NASDAQ: NTAP) has a higher price-to-earnings ratio of 23.64x compared to its average ratio. NTAP has 36-month beta value of 1.27. Analysts have mixed views on the stock, with 11 analysts rating it as a “buy,” 3 as “overweight,” 13 as “hold,” and 2 as “sell.”
The public float for NTAP is 205.71M, and currently, short sellers hold a 3.49% ratio of that float. The average trading volume of NTAP on April 10, 2024 was 1.97M shares.
NTAP) stock’s latest price update
Netapp Inc (NASDAQ: NTAP)’s stock price has decreased by -1.58 compared to its previous closing price of 105.82. However, the company has seen a -0.54% decrease in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-01 that The first quarter of 2024 is in the books, and it was a good one. The benchmark S&P 500 index rose 11% to start the year, its best start since 2019 — before anyone had heard of Covid-19.
Analysts’ Opinion of NTAP
Many brokerage firms have already submitted their reports for NTAP stocks, with Argus repeating the rating for NTAP by listing it as a “Buy.” The predicted price for NTAP in the upcoming period, according to Argus is $130 based on the research report published on March 04, 2024 of the current year 2024.
TD Cowen, on the other hand, stated in their research note that they expect to see NTAP reach a price target of $120, previously predicting the price at $100. The rating they have provided for NTAP stocks is “Outperform” according to the report published on March 01st, 2024.
NTAP Trading at 8.26% 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 -7.41% of loss for the given period.
Volatility was left at 1.66%, however, over the last 30 days, the volatility rate increased by 2.48%, as shares surge +1.34% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +18.27% upper at present.
During the last 5 trading sessions, NTAP fell by -0.54%, which changed the moving average for the period of 200-days by +41.95% in comparison to the 20-day moving average, which settled at $104.27. In addition, Netapp Inc saw 18.14% 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 CERNUDA CESAR, who sale 22,000 shares at the price of $105.03 back on Apr 01 ’24. After this action, CERNUDA CESAR now owns 43,072 shares of Netapp Inc, valued at $2,310,660 using the latest closing price.
Kurian George, the CEO of Netapp Inc, sale 8,500 shares at $101.44 during a trade that took place back on Mar 19 ’24, which means that Kurian George is holding 261,202 shares at $862,218 based on the most recent closing price.
Stock Fundamentals for NTAP
Current profitability levels for the company are sitting at:
- 0.19 for the present operating margin
- 0.7 for the gross margin
The net margin for Netapp Inc stands at 0.15. The total capital return value is set at 0.21. Equity return is now at value 89.69, with 9.85 for asset returns.
Based on Netapp Inc (NTAP), the company’s capital structure generated 0.73 points at debt to capital in total, while cash flow to debt ratio is standing at 0.49. The debt to equity ratio resting at 2.67. The interest coverage ratio of the stock is 16.3.
Currently, EBITDA for the company is 1.55 billion with net debt to EBITDA at 0.53. When we switch over and look at the enterprise to sales, we see a ratio of 3.61. The receivables turnover for the company is 7.85for trailing twelve months and the total asset turnover is 0.66. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.13.
Conclusion
To put it simply, Netapp Inc (NTAP) has had a better performance in recent times. Analysts have a bearish opinion on the stock, with some rating it as a “sell” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
