Stock of Netapp Inc (NTAP) performance and profitability takes another direction

Netapp Inc [NTAP] stock is trading at $106.48, up 1.68%. An important factor to consider is whether the stock is rising or falling in short-term value. The NTAP shares have gain 1.68% over the last week, with a monthly amount glided 3.05%, and seem to be holding up well over a long-time horizon.

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On 18, March 2024, NetApp Empowers Customers to Securely “Talk to Their Data” in Collaboration with NVIDIA. In a post published today on Yahoo Finance, New integration unlocks exabytes of data for secure, private generative AI across the hybrid multicloud.

From an analyst’s perspective:

Netapp Inc [NASDAQ: NTAP] stock has seen the most recent analyst activity on March 04, 2024, when Argus upgraded its rating to a Buy but kept the price target unchanged to $130 for it. Previously, TD Cowen reaffirmed its Outperform rating on March 01, 2024, and elevated its price target to $120. On January 16, 2024, downgrade downgraded it’s rating to Mkt Perform. JP Morgan downgraded its rating to a Underweight and decreased its price target to $87 on January 08, 2024. TD Cowen reiterated its recommendation of a Outperform and raised its price target to $100 on November 29, 2023. Northland Capital downgraded its rating to Market Perform for this stock on November 29, 2023, but kept the price target unchanged to $100. In a note dated September 18, 2023, William Blair downgraded an Mkt Perform rating on this stock.

Netapp Inc [NTAP] stock has fluctuated between $60.92 and $112.48 over the past year. Currently, Wall Street analysts expect the stock to reach $78.45 within the next 12 months. Netapp Inc [NASDAQ: NTAP] shares were valued at $106.48 at the most recent close of the market. An investor can expect a potential drop of -26.32% based on the average NTAP price forecast.

Analyzing the NTAP fundamentals

Netapp Inc [NASDAQ:NTAP] reported sales of 6.17B for the trailing twelve months, which represents a growth of 5.53%. Gross Profit Margin for this corporation currently stands at 0.7% with Operating Profit Margin at 0.19%, Pretax Profit Margin comes in at 0.19%, and Net Profit Margin reading is 0.15%. To continue investigating profitability, this company’s Return on Assets is posted at 0.1, Equity is 0.99 and Total Capital is 0.21. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of2.67.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 104.86 points at the first support level, and at 103.25 for the second support level. However, for the 1st resistance point, the stock is sitting at 107.49, and for the 2nd resistance point, it is at 108.51.

Netapp Inc [NTAP] reported earnings per share of $1.94 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.69/share, meaning a difference of $0.25 and a surprise factor of 14.80%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $1.58 per share as compared to estimates of $1.39 per share, a difference of $0.19 representing a surprise of 13.70%.

Ratios To Look Out For

For context, Netapp Inc’s Current Ratio is 1.13. On the other hand, the Quick Ratio is 1.10, and the Cash Ratio is 0.48. Considering the valuation of this stock, the price to sales ratio is 3.56, the price to book ratio is 22.07 and price to earnings (TTM) ratio is 24.16.

Transactions by insiders

Recent insider trading involved CERNUDA CESAR, President, that happened on Apr 01 ’24 when 22000.0 shares were sold. CEO, Kurian George completed a deal on Mar 19 ’24 to sell 8500.0 shares. Meanwhile, EVP, CFO BERRY MICHAEL J sold 7500.0 shares on Mar 13 ’24.

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