The stock of NetApp Inc. (NASDAQ:NTAP) increased by $0.45 on Wednesday to $76.49, up 0.59 percent. The last five days have seen an average of 1,939,682 shares of common stock traded. 26 times new highs were reached in the current year, with a gain of $16.44. The average number of shares traded over the last 20 days was 2,007,026, while the average volume over the last 50 days totaled 2,181,014.
NTAP stock appreciated 0.04% since last month. On 08/25/23, the company’s shares reached a one-month low of $74.14. The stock touched a high of $80.53 on 07/21/23, after rallying from a low of $58.08 in 52 weeks. The price of NTAP stock has risen by 27.36% or $16.44 this year, reaching a new high 26 times. Still, the stock price is down -5.02% from the 52-week high.
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Insider Transactions
NTAP stock investors should be aware that NetApp Inc. (NTAP) stock had its last reported insider trading activity 8 days ago on Sep 12. On Sep 12, Director HELD GERALD sold 5,634 shares at $78.50 each. This transaction resulted in the insider making $442,269. On Sep 12, Kurian George sold 4,500 shares at a price of US$78.37. After the transaction, the insider now owns 272,136 shares. EVP, Chief Legal Officer O’Callahan Elizabeth M had earlier sold 871 shares on Sep 11 for $79.58 a share. The transaction was completed for $69,314.
Valuation Metrics
NetApp Inc. (NTAP) has a trailing price-to-earnings (P/E) ratio of 13.84. Beta for the stock is 1.20. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.60, the price-to-book (PB) ratio of 18.57, and the price-to-cash flow ratio of 15.08.
Company paid $0.50 per share in dividends, remained unchanged from $0.50 last year. A $0.02 dividend increase was reported on Wednesday June 2 2021.
Financial Health
For the three months ended July 30, NetApp Inc.’s quick ratio was 1.20, while its current ratio was 1.30, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending July 30 is 2.74, and the total debt to equity ratio is 2.74. As far as profitability goes, gross margin for the trailing twelve months is 67.10% percent. NetApp Inc.’s operating margin stood at 15.20% for the same period. Based on annual data, it had gross profit of $4.21 billion and revenue of $6.36 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NTAP’s return on assets (ROA) during the last 12 months has been 12.50%. There was a 34.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 111.50%.
Earnings Surprise
According to NetApp Inc.’s quarterly financial report for the quarter that ended July 30. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.43 billion, while revenues fell by -11.17% to $1.58 billion. It was predicted that NetApp Inc.’s quarterly earnings would be $1.15, but it ended up being $1.07, beating the consensus by 7.50%. EBITDA was $242.0 million for the quarter. At the end of NetApp Inc.’s most recent quarter ended July 30, its liabilities totaled 8.4 billion, while its total debt was $2.67 billion. Equity owned by shareholders amounts to $208.79 million.
Technical Picture
Here’s a quick look at NetApp Inc.’s (NTAP) price momentum from a technical perspective. As of 19 September, the RSI 9-day stood at 41.32%, suggesting the stock is Neutral, with a 20.20% historical volatility rate.
The stochastic %K and %D were 17.28% and 31.14% respectively, while the average true range (ATR) was 1.29. Based on the 14-day stochastic reading of 23.14%, the RSI (14) reading is 45.17%. On the 9-day MACD Oscillator, the stock is at -1.42, and the 14-day reading is at -1.72.
Analyst Ratings
NetApp Inc. (NASDAQ: NTAP) was downgraded by William Blair to a a Mkt perform rating in its latest research report. The stock was previously rated as a an Outperform. Analysts have assigned NetApp Inc. (NTAP) an Hold rating. NTAP is a stock that is recommended for selling by 0 brokerage firms, while 14 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 2 rates it overweight and 5 others recommend it as a buy.
What is NTAP’s price target for the next 12 months?
The current consensus forecast for the stock is between $63.00 and $100.00, with a median target price of $81.00. In analyzing these forecasts, the average price target given by analysts for NetApp Inc. (NTAP) is $80.78.
