We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
NetApp (NTAP) Beats Stock Market Upswing: What Investors Need to Know
Read MoreHide Full Article
In the latest trading session, NetApp (NTAP - Free Report) closed at $134.62, marking a +1.92% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 1.02%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.
The data storage company's shares have seen an increase of 5.28% over the last month, not keeping up with the Computer and Technology sector's gain of 8.46% and outstripping the S&P 500's gain of 4.44%.
The investment community will be closely monitoring the performance of NetApp in its forthcoming earnings report. On that day, NetApp is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 26.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.53 billion, up 7.13% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.86 per share and a revenue of $6.55 billion, representing changes of +6.19% and +4.43%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for NetApp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.38% fall in the Zacks Consensus EPS estimate. NetApp is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, NetApp currently has a Forward P/E ratio of 19.27. This represents no noticeable deviation compared to its industry's average Forward P/E of 19.27.
Meanwhile, NTAP's PEG ratio is currently 4.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 1.57.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 175, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
NetApp (NTAP) Beats Stock Market Upswing: What Investors Need to Know
In the latest trading session, NetApp (NTAP - Free Report) closed at $134.62, marking a +1.92% move from the previous day. The stock's performance was ahead of the S&P 500's daily gain of 1.02%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 1.18%.
The data storage company's shares have seen an increase of 5.28% over the last month, not keeping up with the Computer and Technology sector's gain of 8.46% and outstripping the S&P 500's gain of 4.44%.
The investment community will be closely monitoring the performance of NetApp in its forthcoming earnings report. On that day, NetApp is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 26.96%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.53 billion, up 7.13% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.86 per share and a revenue of $6.55 billion, representing changes of +6.19% and +4.43%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for NetApp. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.38% fall in the Zacks Consensus EPS estimate. NetApp is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, NetApp currently has a Forward P/E ratio of 19.27. This represents no noticeable deviation compared to its industry's average Forward P/E of 19.27.
Meanwhile, NTAP's PEG ratio is currently 4.26. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 1.57.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 175, this industry ranks in the bottom 31% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.