A share price of Netapp Inc [NTAP] is currently trading at $122.93, up 0.36%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The NTAP shares have gain 6.33% over the last week, with a monthly amount drifted -5.56%, and not seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
Netapp Inc [NASDAQ: NTAP] stock has seen the most recent analyst activity on May 31, 2024, when JP Morgan upgraded its rating to a Neutral and also boosted its price target to $125 from $95. Previously, TD Cowen reaffirmed its Buy rating on May 31, 2024, and elevated its price target to $135. On March 04, 2024, upgrade upgraded it’s rating to Buy but maintained its price target of $130 on the stock. TD Cowen reiterated its Outperform rating and increased its price target to $120 on March 01, 2024. Raymond James downgraded its rating to a Mkt Perform. JP Morgan downgraded its rating to Underweight for this stock on January 08, 2024, and downed its price target to $87. In a note dated November 29, 2023, TD Cowen reiterated an Outperform rating on this stock and boosted its target price from $90 to $100.
Netapp Inc experienced fluctuations in its stock price throughout the past year between $70.82 and $135.01. Currently, Wall Street analysts expect the stock to reach $98.79 within the next 12 months. Netapp Inc [NASDAQ: NTAP] shares were valued at $122.93 at the most recent close of the market. An investor can expect a potential drop of -19.64% based on the average NTAP price forecast.
Analyzing the NTAP fundamentals
Trailing Twelve Months sales for Netapp Inc [NASDAQ:NTAP] were 6.26B which represents 5.64% growth. Gross Profit Margin for this corporation currently stands at 0.71% with Operating Profit Margin at 0.19%, Pretax Profit Margin comes in at 0.2%, and Net Profit Margin reading is 0.16%. To continue investigating profitability, this company’s Return on Assets is posted at 0.1, Equity is 1.04 and Total Capital is 0.21. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of2.12.
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 122.20 points at the first support level, and at 121.47 for the second support level. However, for the 1st resistance point, the stock is sitting at 123.85, and for the 2nd resistance point, it is at 124.76.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Netapp Inc [NASDAQ:NTAP] is 1.18. Further, the Quick Ratio stands at 1.13, while the Cash Ratio is 0.46. Considering the valuation of this stock, the price to sales ratio is 4.04, the price to book ratio is 22.10 and price to earnings (TTM) ratio is 26.44.
Transactions by insiders
Recent insider trading involved ELIZABETH O’CALLAHAN, Officer, that happened on Aug 12 ’24 when 704.0 shares were purchased. CEO, Kurian George completed a deal on Jul 15 ’24 to sell 8500.0 shares. Meanwhile, EVP, Chief Legal Officer O’Callahan Elizabeth M sold 452.0 shares on Jul 10 ’24.
