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NetApp (NTAP) Surpasses Market Returns: Some Facts Worth Knowing
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NetApp (NTAP - Free Report) closed the most recent trading day at $128.34, moving +1.68% from the previous trading session. This change outpaced the S&P 500's 1.08% gain on the day. On the other hand, the Dow registered a gain of 0.32%, and the technology-centric Nasdaq increased by 1.58%.
The data storage company's stock has dropped by 1.11% in the past month, exceeding the Computer and Technology sector's loss of 4.77% and lagging the S&P 500's gain of 0.43%.
The investment community will be paying close attention to the earnings performance of NetApp in its upcoming release. The company is forecasted to report an EPS of $1.46, showcasing a 26.96% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.53 billion, indicating a 7.13% upward movement from the same quarter last year.
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.
Investors should also note any recent changes to analyst estimates for NetApp. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.38% downward. NetApp currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, NetApp is currently exchanging hands at a Forward P/E ratio of 18.41. This signifies no noticeable deviation in comparison to the average Forward P/E of 18.41 for its industry.
Meanwhile, NTAP's PEG ratio is currently 4.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 1.42.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NetApp (NTAP) Surpasses Market Returns: Some Facts Worth Knowing
NetApp (NTAP - Free Report) closed the most recent trading day at $128.34, moving +1.68% from the previous trading session. This change outpaced the S&P 500's 1.08% gain on the day. On the other hand, the Dow registered a gain of 0.32%, and the technology-centric Nasdaq increased by 1.58%.
The data storage company's stock has dropped by 1.11% in the past month, exceeding the Computer and Technology sector's loss of 4.77% and lagging the S&P 500's gain of 0.43%.
The investment community will be paying close attention to the earnings performance of NetApp in its upcoming release. The company is forecasted to report an EPS of $1.46, showcasing a 26.96% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $1.53 billion, indicating a 7.13% upward movement from the same quarter last year.
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.
Investors should also note any recent changes to analyst estimates for NetApp. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.38% downward. NetApp currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, NetApp is currently exchanging hands at a Forward P/E ratio of 18.41. This signifies no noticeable deviation in comparison to the average Forward P/E of 18.41 for its industry.
Meanwhile, NTAP's PEG ratio is currently 4.07. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. By the end of yesterday's trading, the Computer- Storage Devices industry had an average PEG ratio of 1.42.
The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.