As of Wednesday close, NetApp Inc.’s (NASDAQ:NTAP) stock was up $0.01, moving up 0.01 percent to $76.43. The average number of shares traded per day over the past five days has been 2,000,400 shares. 1 time new highs have been achieved over the past 5 days, with a -$0.10 fall in that time frame. In the last twenty days, the average volume was 2,029,240, while in the previous 50 days, it was 2,229,240.
Since last month, NTAP stock retreated -3.09%. Shares of the company fell to $74.14 on 08/25/23, the lowest level in the past month. A 52-week high of $80.53 was reached on 07/21/23 after having rallying from a 52-week low of $58.08. Since the beginning of this year, NTAP’s stock price has risen by 27.26% or $16.37, and marked a new high 26 times. However, the stock has declined by -5.09% since its 52-week high.
NTAP stock investors should be aware that NetApp Inc. (NTAP) stock had its last reported insider trading activity 3 days ago on Aug 28. Parks Robert, the Chief Accounting Officer of the company, disposed of 9,113 shares for $75.90 on Aug 28. It resulted in a $691,677 divestment by the insider. O’Callahan Elizabeth M sold 871 shares at an average price of $77.24 on Aug 10. The insider now owns 12,210 shares following the transaction. On Aug 08, Chief Executive Officer Kurian George sold 4,500 shares at $77.66 apiece. The transaction was valued at $349,471.
Valuation Metrics
Right now, NetApp Inc. (NTAP) has a P/E ratio of about 13.83. The stock’s beta is 1.20. Besides these, the trailing price-to-sales (P/S) ratio of 2.63, the price-to-book (PB) ratio of 14.10, and the price-to-cash flow ratio of 16.05 may also be considered.
The latest dividend of $0.50 per share was paid out, remained unchanged from last year’s $0.50. On Wednesday June 2 2021, a $0.02 dividend increase was announced.
Financial Health
In the three months ended July 30, NetApp Inc.’s quick ratio stood at 1.30, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending July 30 was 2.06, and the total debt-to-equity ratio was 2.06. On the profitability front, the trailing twelve-month gross margin is 67.10% percent. In the year ended July 30, EBITDA margin amounted to 22.89%, whereas operating margins totaled 16.20%. Based on annual data, NTAP earned $4.21 billion in gross profit and brought in $6.36 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 34.60%. Return on equity (ROE) for the past 12 months was 125.00%.
In NetApp Inc.’s quarter-end financial report for July 30, it reported total debt of $2.39 billion. According to the earnings report, the company had a lower net income in the recent quarter than it did in the previous quarter. NTAP’s revenue fell -11.17% to $1.58 billion during the quarter, while net income inched up to $1.43 billion. While analysts expected NetApp Inc. to report $1.07 quarterly earnings, the actual figure was $1.15 per share, beating the consensus estimate by 7.50%. During the quarter, the company generated $242.0 million in EBITDA. The liabilities of NetApp Inc. were 8.4 billion at the end of its most recent quarter ended July 30, and its total debt was $2.39 billion. The value of shareholders’ equity is $208.79 million.
Technical Picture
This quick technical analysis looks at NetApp Inc.’s (NTAP) price momentum. With a historical volatility rate of 16.90%, the RSI 9-day stood at 50.95% on 30 August.
With respect to its five-day moving average, the current NetApp Inc. price is down by -0.13% percent or -$0.10. At present, NTAP shares trade -2.59% below its 20-day simple moving average and +21.32% percent above its 100-day simple moving average. However, the stock is currently trading approximately +4.94% above its SMA50 and +6.29% above its SMA200.
Stochastic coefficient K was 61.53% and Stochastic coefficient D was 45.09%, while ATR was 1.44. Given the Stochastic reading of 70.90% for the 14-day period, the RSI (14) reading has been calculated as 49.87%. As of today, the MACD Oscillator reading stands at 0.30, while the 14-day reading stands at 0.30.
Analyst Ratings
TD Cowen reiterated its an Outperform rating on NetApp Inc. (NASDAQ: NTAP) in a note to investors. The analysts firm has however raised their price target to $90, representing a possible 10.08% increase in the stock price. NetApp Inc. (NTAP) has been rated Hold by analysts. According to 0 brokerage firms, NTAP is a sell, and 14 firms recommend it is a Hold. There are 1 analyst who say the stock is underweight. A total of 2 analysts rate NetApp Inc. stock as buy, with 5 recommending it as overweight.
With a median target price of $80.00, the current consensus forecast for the stock is $62.00 – $90.00. Based on these forecasts, analysts predict NetApp Inc. (NTAP) will achieve an average price target of $78.06.
