Netapp Inc (NASDAQ:NTAP) shares, rose in value on Thursday, November 21, with the stock price up by 2.62% to the previous day’s close as strong demand from buyers drove the stock to $126.68.
Actively observing the price movement in the last trading, the stock closed the session at $123.45, falling within a range of $123.56 and $128.03. The value of beta (5-year monthly) was 1.225 whereas the PE ratio was 24.69 over 12-month period. Referring to stock’s 52-week performance, its high was $135.01, and the low was $77.30. On the whole, NTAP has fluctuated by 6.44% over the past month.
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With the market capitalization of Netapp Inc currently standing at about $25.94 billion, investors are eagerly awaiting this quarter’s results, scheduled for in December. The company’s Forward Dividend Ratio is 2.04, with its dividend yield at 1.61%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 6.59B, with a low estimate of 1.62B and a high estimate of 1.71B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 1.67B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that NTAP’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium-term indicators have put the stock in the category of 50% Buy while long-term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 4.12, with the price of NTAP currently trading nearly 5.54% and 4.03% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 61.97, while the 7-day volatility ratio is showing 2.44% which for the 30-day chart, stands at 2.02%. Furthermore, Netapp Inc (NTAP)’s beta value is 1.22, and its average true range (ATR) is 2.76.
A comparison of Netapp Inc (NTAP) with its peers suggests the former has fared considerably weaker in the market. NTAP showed an intraday change of 2.62% in last session, and over the past year, it grew by 63.61%%.
Data on historical trading for Netapp Inc (NASDAQ:NTAP) indicates that the trading volumes over the past 10 days have averaged 1.69 and over the past 3 months, they’ve averaged 1.55 million. According to company’s latest data on outstanding shares, there are 206.00 million shares outstanding.
Nearly 0.41% of Netapp Inc’s shares belong to company insiders and institutional investors own 93.83% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.89 million shares as on 2024-10-31, resulting in a short ratio of 7.38. According to the data, the short interest in Netapp Inc (NTAP) stood at 567.00 of shares outstanding as of 2024-10-31; the number of short shares registered in 2024-09-30 reached 6.86 million. The stock has risen by 43.69% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the NTAP stock heading into the next quarter.
