Why NetApp Inc. [NTAP] Stock Can Charge Above The $60.74 Level

NetApp Inc. [NTAP] stock is up 1.25 while the S&P 500 has fallen -0.17% on Friday, 12/04/20. While at the time of this article, NTAP ATR is sitting at 1.90, with the beta value at 1.29. This stock’s volatility for the past week remained at 3.44%, while it was 3.14% for the past 30-day period. NTAP has risen $0.75 from the previous closing price of $59.99 on volume of 0.94 million shares.

On 1, December 2020, NetApp Reports Second Quarter of Fiscal Year 2021 Results. According to news published on Yahoo Finance, Net Revenues of $1.42 Billion; Up 3% Year-over-Year.

Analyst Birdseye View:

The most recent analyst activity for NetApp Inc. [NASDAQ:NTAP] stock was on December 02, 2020, when it was Upgrade with a Neutral rating from Goldman, which also raised its 12-month price target on the stock from $36 to $56. Before that, on December 02, 2020, Loop Capital Recapitulated a Buy rating and elevated its amount target to $70. On December 02, 2020, Cross Research Upgrade a Buy rating and boosted its price target on this stock to $63. On October 23, 2020, Summit Insights Upgrade a Buy rating. On October 13, 2020, Morgan Stanley Upgrade an Overweight rating and increased its price target to $49. On August 27, 2020, Wells Fargo Reiterated an Equal weight rating and boosted its amount target on this stock to $52. On August 27, 2020, Northland Capital Reiterated an Outperform rating and boosted its target amount on this stock from $51 to $57. Morgan Stanley elevated its amount target by recapitulating a higher weight for this stock.

In the past 52 weeks of trading, this stock has oscillated between a low of $34.66 and a peak of $65.38. Right now, according to Wall Street analyst the average 12-month amount target is $60.50. At the most recent market close, shares of NetApp Inc. [NASDAQ:NTAP] were valued at $60.74. According to the average price forecast, investors can expect a potential return of -1.19%.

FUNDAMENTAL ANALYSIS

NetApp Inc. [NASDAQ:NTAP] most recently reported quarterly sales of 1.41 billion, which represented growth of 3.30%. This publicly-traded organization’s revenue is $501,111 per employee, while its income is $75,833 per employee. This company’s Gross Margin is currently 66.70%, its Pretax Margin is +17.44, and its Net Margin is +15.13. Continuing to look at profitability, this corporation’s Return on Assets, Equity, Whole Principal & invested Principal is sitting at 10.07, 122.97, 37.72 and 44.09 respectively.

If looking now at the Principal structure of this organization, it shows its whole liability to the whole Principal at 88.22 and the whole liability to whole assets at 24.09. It shows enduring liability to the whole principal at 60.32 and enduring liability to assets at 0.16 while looking for an extended time period.

Readers are usually of view to make a close observation to the indicators that support and make resistance before moving to any particular stock. As of now, the company’s stock is sitting at 58.97 points at 1st support level, the second support level is making up to 57.94. But as of 1st resistance point, this stock is sitting at 60.55 and at 61.10 for 2nd resistance point.

NetApp Inc. [NTAP] reported its earnings at $1.05 per share in the fiscal quarter closing of 10/30/2020. The Analysts for Wall Street were expecting to report its earnings at $0.73/share signifying the difference of 0.32 and 43.80% surprise value. Comparing the previous quarter ending of 7/30/2020, the stated earnings were $0.73 calling estimates for $0.41/share with the difference of 0.32 depicting the surprise of 78.00%.

Important Ratio’s To Watch

Meanwhile, turning our focus to liquidity, the Current Ratio for NetApp Inc. [NASDAQ:NTAP] is 1.70. Likewise, the Quick ratio is also the same, showing Cash ratio at 0.80. Now if looking for a valuation of this stock’s amount to sales ratio it’s 1.85, it’s amount to book ratio is 38.97 and showing 19.71 of P/E (TTM) ratio.

Insider Stories

The most recent insider trade was by NEVENS THOMAS MICHAEL, Director, and it was the sale of 22831.0 shares on Sep 11. HELD GERALD, the Director, completed a sale of 11416.0 shares on Sep 10. On Jun 02, FAWCETT MATTHEW K, SVP, GC & Secretary, completed a sale of 9487.0 shares.