The stock of Netapp Inc (NTAP) has seen a -1.65% decrease in the past week, with a -0.87% drop in the past month, and a 18.12% flourish in the past quarter. The volatility ratio for the week is 2.08%, and the volatility levels for the past 30 days are at 1.77% for NTAP.. The simple moving average for the past 20 days is -3.33% for NTAP’s stock, with a 19.26% 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 price-to-earnings ratio that is above its average at 22.90x. The stock has a 36-month beta value of 1.26. Opinions on the stock are mixed, 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 at present, short sellers hold a 2.52% of that float. On April 18, 2024, the average trading volume of NTAP was 1.95M shares.
NTAP) stock’s latest price update
The stock of Netapp Inc (NASDAQ: NTAP) has decreased by -1.59 when compared to last closing price of 102.54.Despite this, the company has seen a loss of -1.65% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-17 that NetApp (NTAP) expects momentum in all-flash products, and hyper-scaler first-party and marketplace services to drive the top line amid uncertainty prevailing over macroeconomic conditions.
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 2.95% 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 -10.29% of loss for the given period.
Volatility was left at 1.77%, however, over the last 30 days, the volatility rate increased by 2.08%, as shares sank -2.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.72% upper at present.
During the last 5 trading sessions, NTAP fell by -1.65%, which changed the moving average for the period of 200-days by +32.08% in comparison to the 20-day moving average, which settled at $104.26. In addition, Netapp Inc saw 14.46% 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 8,500 shares at the price of $103.16 back on Apr 15 ’24. After this action, Kurian George now owns 252,702 shares of Netapp Inc, valued at $876,838 using the latest closing price.
O’Callahan Elizabeth M, the EVP, Chief Legal Officer of Netapp Inc, sale 871 shares at $103.02 during a trade that took place back on Apr 10 ’24, which means that O’Callahan Elizabeth M is holding 9,601 shares at $89,730 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 3.5. 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 sum up, Netapp Inc (NTAP) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing 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.
