At the time of writing, Netapp Inc [NTAP] stock is trading at $122.92, up 0.57%. 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 4.29% over the last week, with a monthly amount drifted -6.62%, 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 September 03, 2024, when Loop Capital upgraded its rating to a Buy and also boosted its price target to $150 from $121. Previously, JP Morgan upgraded its rating to Neutral on May 31, 2024, and elevated its price target to $125. On May 31, 2024, TD Cowen reiterated its Buy rating and revised its price target to $135 on the stock. Argus upgraded its rating to a Buy but stick to its price target of $130 on March 04, 2024. TD Cowen reiterated its recommendation of a Outperform and raised its price target to $120 on March 01, 2024. Raymond James downgraded its rating to Mkt Perform for this stock on January 16, 2024. In a note dated January 08, 2024, JP Morgan downgraded an Underweight rating on this stock and revised its target price from $89 to $87.
For the past year, the stock price of Netapp Inc fluctuated between $70.82 and $135.01. Currently, Wall Street analysts expect the stock to reach $110.56 within the next 12 months. Netapp Inc [NASDAQ: NTAP] shares were valued at $122.92 at the most recent close of the market. An investor can expect a potential drop of -10.06% based on the average NTAP price forecast.
Analyzing the NTAP fundamentals
According to Netapp Inc [NASDAQ:NTAP], the company’s sales were 6.37B for trailing twelve months, which represents an 7.69% jump. Gross Profit Margin for this corporation currently stands at 0.71% with Operating Profit Margin at 0.21%, Pretax Profit Margin comes in at 0.22%, and Net Profit Margin reading is 0.17%. To continue investigating profitability, this company’s Return on Assets is posted at 0.12, Equity is 1.13 and Total Capital is 0.28. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 2.62.
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 122.08 points at the first support level, and at 121.23 for the second support level. However, for the 1st resistance point, the stock is sitting at 123.46, and for the 2nd resistance point, it is at 124.00.
Ratios To Look Out For
It is important to note that Netapp Inc [NASDAQ:NTAP] has a current ratio of 0.94. Further, the Quick Ratio stands at 0.90, while the Cash Ratio is 0.37. Considering the valuation of this stock, the price to sales ratio is 3.95, the price to book ratio is 27.12 and price to earnings (TTM) ratio is 23.96.
Transactions by insiders
Recent insider trading involved NEVENS THOMAS MICHAEL, Director, that happened on Sep 18 ’24 when 3333.0 shares were sold. Director, Thomas Michael Nevens completed a deal on Sep 18 ’24 to buy 3333.0 shares. Meanwhile, CEO Kurian George sold 8500.0 shares on Sep 16 ’24.
