Netapp Inc (NASDAQ: NTAP) has a price-to-earnings ratio of 22.56x that is above its average ratio. Additionally, the 36-month beta value for NTAP is 1.27. There are mixed opinions on the stock, with 11 analysts rating it as a “buy,” 3 rating it as “overweight,” 13 rating it as “hold,” and 2 rating it as “sell.”
The public float for NTAP is 205.70M and currently, short sellers hold a 2.52% ratio of that float. The average trading volume of NTAP on April 24, 2024 was 1.88M shares.
NTAP) stock’s latest price update
Netapp Inc (NASDAQ: NTAP)’s stock price has gone rise by 1.54 in comparison to its previous close of 97.91, however, the company has experienced a -3.04% decrease in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-23 that NetApp (NTAP) closed at $99.42 in the latest trading session, marking a +1.89% move from the prior day.
NTAP’s Market Performance
Netapp Inc (NTAP) has seen a -3.04% fall in stock performance for the week, with a -5.07% decline in the past month and a 12.77% surge in the past quarter. The volatility ratio for the week is 2.30%, and the volatility levels for the past 30 days are at 1.88% for NTAP. The simple moving average for the last 20 days is -3.80% for NTAP’s stock, with a simple moving average of 16.87% for the last 200 days.
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 0.49% 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 -11.61% of loss for the given period.
Volatility was left at 1.88%, however, over the last 30 days, the volatility rate increased by 2.30%, as shares sank -5.24% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.65% upper at present.
During the last 5 trading sessions, NTAP fell by -3.04%, which changed the moving average for the period of 200-days by +30.39% in comparison to the 20-day moving average, which settled at $103.07. In addition, Netapp Inc saw 12.77% 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 3.45. 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
In conclusion, Netapp Inc (NTAP) has seen mixed performance in recent times. Analysts have a bearish opinion on the stock, with some rating it as a “sell” and others rating it as 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.
