NetApp (NTAP) closed at $99.53 in the latest trading session, marking a +1.12% move from the prior day. This change outpaced the S&P 500's 0.73% gain on the day. Elsewhere, the Dow lost 0.64%, while the tech-heavy Nasdaq added 1.61%.
The the stock of data storage company has risen by 18.19% in the past month, leading the Computer and Technology sector's gain of 11.93% and the S&P 500's gain of 9.07%.
Analysts and investors alike will be keeping a close eye on the performance of NetApp in its upcoming earnings disclosure. The company's earnings report is set to go public on May 29, 2025. The company is predicted to post an EPS of $1.89, indicating a 5% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $1.73 billion, indicating a 3.42% growth compared to the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for NetApp. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.5% decrease. Currently, NetApp is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, NetApp is presently being traded at a Forward P/E ratio of 12.71. This indicates no noticeable deviation in contrast to its industry's Forward P/E of 12.71.
Investors should also note that NTAP has a PEG ratio of 1.48 right now. 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. The Computer- Storage Devices industry currently had an average PEG ratio of 1.85 as of yesterday's close.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 223, this industry ranks in the bottom 10% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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NetApp, Inc. (NTAP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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