Netapp Inc (NASDAQ: NTAP) has a higher price-to-earnings ratio of 23.97x compared to its average ratio. NTAP has 36-month beta value of 1.22. 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 203.74M, and currently, short sellers hold a 2.60% ratio of that float. The average trading volume of NTAP on September 25, 2024 was 1.72M shares.
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NTAP) stock’s latest price update
Netapp Inc (NASDAQ: NTAP) has experienced a rise in its stock price by 0.02 compared to its previous closing price of 122.92. However, the company has seen a gain of 3.28% in its stock price over the last five trading days. zacks.com reported 2024-09-24 that NetApp, Cabot, Leidos Holdings, Charles River and HCA Healthcare could be compelling picks amid a low rate scenario.
NTAP’s Market Performance
Netapp Inc (NTAP) has seen a 3.28% rise in stock performance for the week, with a -7.64% decline in the past month and a -3.74% plunge in the past quarter. The volatility ratio for the week is 1.75%, and the volatility levels for the past 30 days are at 2.26% for NTAP. The simple moving average for the last 20 days is 2.16% for NTAP’s stock, with a simple moving average of 13.78% for the last 200 days.
Analysts’ Opinion of NTAP
Many brokerage firms have already submitted their reports for NTAP stocks, with Loop Capital repeating the rating for NTAP by listing it as a “Buy.” The predicted price for NTAP in the upcoming period, according to Loop Capital is $150 based on the research report published on September 03, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see NTAP reach a price target of $125, previously predicting the price at $95. The rating they have provided for NTAP stocks is “Neutral” according to the report published on May 31st, 2024.
TD Cowen gave a rating of “Buy” to NTAP, setting the target price at $135 in the report published on May 31st of the current year.
NTAP Trading at -0.68% 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 -8.93% of loss for the given period.
Volatility was left at 2.26%, however, over the last 30 days, the volatility rate increased by 1.75%, as shares sank -7.21% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -5.70% lower at present.
During the last 5 trading sessions, NTAP rose by +3.28%, which changed the moving average for the period of 200-days by +37.53% in comparison to the 20-day moving average, which settled at $119.87. In addition, Netapp Inc saw 39.46% 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 DANIEL DE LORENZO, who proposed sale 1,685 shares at the price of $123.60 back on Sep 24 ’24. After this action, DANIEL DE LORENZO now owns shares of Netapp Inc, valued at $208,266 using the latest closing price.
NEVENS THOMAS MICHAEL, the Director of Netapp Inc, sale 3,333 shares at $120.21 during a trade that took place back on Sep 18 ’24, which means that NEVENS THOMAS MICHAEL is holding 12,610 shares at $400,662 based on the most recent closing price.
Stock Fundamentals for NTAP
Current profitability levels for the company are sitting at:
- 0.21 for the present operating margin
- 0.71 for the gross margin
The net margin for Netapp Inc stands at 0.17. The total capital return value is set at 0.28. Equity return is now at value 120.42, with 11.68 for asset returns.
Based on Netapp Inc (NTAP), the company’s capital structure generated 0.72 points at debt to capital in total, while cash flow to debt ratio is standing at 0.65. The debt to equity ratio resting at 2.62. The interest coverage ratio of the stock is 20.88.
Currently, EBITDA for the company is 1.52 billion with net debt to EBITDA at 0.6. When we switch over and look at the enterprise to sales, we see a ratio of 4.11. The receivables turnover for the company is 9.39for trailing twelve months and the total asset turnover is 0.68. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.94.
Conclusion
To put it simply, Netapp Inc (NTAP) has had a mixed 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.
