The stock of Netapp Inc (NTAP) has seen a -4.49% decrease in the past week, with a -2.58% drop in the past month, and a -4.73% decrease in the past quarter. The volatility ratio for the week is 2.05%, and the volatility levels for the past 30 days are at 1.93% for NTAP. The simple moving average for the last 20 days is -3.71% for NTAP’s stock, with a simple moving average of 7.10% for the last 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 23.34x compared to its average ratio, The 36-month beta value for NTAP is at 1.22. Analysts have varying views on the stock, with 11 analysts rating it as a “buy,” 3 rating it as “overweight,” 13 as “hold,” and 2 as “sell.”
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The public float for NTAP is 203.77M, and currently, shorts hold a 3.37% of that float. The average trading volume for NTAP on October 23, 2024 was 1.52M shares.
NTAP) stock’s latest price update
Netapp Inc (NASDAQ: NTAP)’s stock price has dropped by -4.44 in relation to previous closing price of 125.32. Nevertheless, the company has seen a loss of -4.49% in its stock price over the last five trading days. seekingalpha.com reported 2024-10-22 that I believe NetApp’s valuation at 17x forward non-GAAP EPS is attractive for a tech company with its growth potential. I’m impressed by the company’s focus on AI workloads, cloud integration, and flash storage, which are key growth drivers. NetApp’s ability to outpace the S&P500 since my initial bullish call further supports my confidence in its future performance.
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 -3.32% 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 -11.30% of loss for the given period.
Volatility was left at 1.93%, however, over the last 30 days, the volatility rate increased by 2.05%, as shares sank -2.60% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -2.59% lower at present.
During the last 5 trading sessions, NTAP fell by -4.49%, which changed the moving average for the period of 200-days by +40.77% in comparison to the 20-day moving average, which settled at $124.37. In addition, Netapp Inc saw 35.83% 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 GEORGE KURIAN, who proposed sale 8,500 shares at the price of $126.11 back on Oct 21 ’24. After this action, GEORGE KURIAN now owns shares of Netapp Inc, valued at $1,071,905 using the latest closing price.
O’Callahan Elizabeth M, the EVP, Chief Legal Officer of Netapp Inc, sale 705 shares at $126.20 during a trade that took place back on Oct 10 ’24, which means that O’Callahan Elizabeth M is holding 11,694 shares at $88,971 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 4.0. 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
In conclusion, Netapp Inc (NTAP) has had a mixed performance lately. Opinion on the stock among analysts is bearish, with some giving it a “sell” 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.
