Core Viewpoint - NetApp has shown a positive stock performance with a return of +6.7% over the past month, contrasting with the S&P 500's -0.3% and the Computer-Storage Devices industry's -5.2% [1] Earnings Estimate Revisions - NetApp is expected to report earnings of $1.80 per share for the current quarter, reflecting a year-over-year increase of +16.9% [2] - The consensus earnings estimate for the current fiscal year is $6.47, indicating a year-over-year change of +15.7%, which has remained unchanged over the last 30 days [3] - For the next fiscal year, the consensus estimate is $6.65, showing a change of +2.8% from the previous year, also unchanged over the past month [3] - NetApp holds a Zacks Rank 2 (Buy), indicating strong potential for near-term price performance based on earnings estimate revisions [3] Projected Revenue Growth - The consensus sales estimate for the current quarter is $1.66 billion, representing a year-over-year change of +5.1% [4] - For the current fiscal year, the revenue estimate is $6.26 billion, indicating a -1.6% change, while the next fiscal year's estimate is $6.51 billion, reflecting a +4% change [4] Last Reported Results and Surprise History - In the last reported quarter, NetApp achieved revenues of $1.61 billion, a year-over-year increase of +5.2%, and an EPS of $1.94 compared to $1.37 a year ago [5] - The reported revenues exceeded the Zacks Consensus Estimate of $1.59 billion by +0.85%, and the EPS surprise was +14.79% [5] - NetApp has consistently beaten consensus EPS and revenue estimates in the last four quarters [5] Valuation - Valuation metrics such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-cash flow (P/CF) are essential for assessing whether NetApp's stock is fairly valued [6] - NetApp is graded C in the Zacks Value Style Score, indicating it is trading at par with its peers [8] Bottom Line - The information suggests that NetApp may outperform the broader market in the near term, supported by its Zacks Rank 2 [9]

Group 1: Company Performance - NetApp's stock closed at $107.36, reflecting a -0.55% change from the previous day, underperforming the S&P 500 which gained 0.13% [1] - Over the past month, NetApp shares increased by 2.01%, outperforming the Computer and Technology sector's gain of 0.89% and the S&P 500's loss of 0.35% [1] - The upcoming EPS for NetApp is projected at $1.80, indicating a 16.88% increase year-over-year, with quarterly revenue expected to be $1.66 billion, up 5.05% from the previous year [1] Group 2: Analyst Estimates and Ratings - Recent changes to analyst estimates for NetApp reflect evolving short-term business trends, with positive revisions indicating optimism about the company's outlook [2] - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), currently rates NetApp at 2 (Buy) [2] - Stocks rated 1 in the Zacks Rank have produced an average annual return of +25% since 1988 [2] Group 3: Valuation Metrics - NetApp is currently trading at a Forward P/E ratio of 16.23, which is a discount compared to the industry's average Forward P/E of 25.92 [3] - The company has a PEG ratio of 1.85, compared to the Computer-Storage Devices industry's average PEG ratio of 1.4 [3] - The Computer-Storage Devices industry holds a Zacks Industry Rank of 13, placing it in the top 6% of over 250 industries [3]

The Zacks Computer-Storage Devices industry players are well-poised to gain from solid momentum in cloud computing, Internet of Things (IoT), auto, connected devices, virtual reality and Artificial Intelligence (AI) in the long run. These factors propel the demand for robust data storage solutions, bolstering computer storage product requirements. The same factors are favorable for prominent industry players like Super Micro Computer (SMCI) , NetApp (NTAP) and Pure Storage (PSTG) . The democratization of hi ...

The most recent trading session ended with NetApp (NTAP) standing at $102.48, reflecting a +1.13% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.32%. Meanwhile, the Dow experienced a rise of 0.38%, and the technology-dominated Nasdaq saw an increase of 0.35%.Shares of the data storage company have depreciated by 3.47% over the course of the past month, underperforming the Computer and Technology sector's loss of 1.9% and the S&P 500's loss ...

The most recent trading session ended with NetApp (NTAP) standing at $99.42, reflecting a +1.89% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily gain of 1.2%. Meanwhile, the Dow gained 0.69%, and the Nasdaq, a tech-heavy index, added 1.59%.Prior to today's trading, shares of the data storage company had lost 6.68% over the past month. This has was narrower than the Computer and Technology sector's loss of 6.83% and lagged the S&P 500's loss of 4.16% in that time.The in ...

NetApp (NTAP) is continuing its upward trajectory, with a gain of 50.9% in the past year compared with the S&P 500 Composite’s 22.3% growth.NetApp provides enterprise storage as well as data management software and hardware products, and services. The San Jose, CA-based company assists enterprises in managing multiple clouds environments, adopting next-generation technologies like artificial intelligence (AI), Kubernetes and contemporary databases, and navigating the complexity brought about by the quick de ...

NetApp (NTAP) and NVIDIA (NVDA) have joined forces to enhance Retrieval-Augmented Generation (RAG) for generative AI applications. The collaboration integrates NetApp's intelligent data infrastructure with NVIDIA NeMo Retriever microservices.The collaboration will enable NetApp ONTAP customers to "talk to their data" and obtain proprietary business insights without compromising the security or privacy of their data. Enterprises can now leverage large language models to interact securely with their proprieta ...

NetApp (NTAP) is continuing its upward trajectory, with a gain of 64.8% in the past year compared with the S&P 500 composite’s 30.3% growth.With healthy fundamentals and strong growth opportunities, this Zacks Rank #1 (Strong Buy) stock appears to be a solid investment option at the moment.Apart from a favorable rank, NTAP has a Growth Score of B. Per Zacks’ proprietary methodology, stocks with a combination of a Zacks Rank #1 or 2 (Buy) and a VGM Score of A or B offer solid investment opportunities.Image S ...

Key PointsArtificial intelligence (AI) tailwinds are boosting NetApp's all-flash array (AFA) business, with margins expanding from low NAND pricing.Low flash memory pricing is driving the all-flash array business, displacing HDD in AI applications.NetApp posted a blowout fiscal Q3 2024, beating consensus estimates by 25 cents and raising its full-year guidance.5 stocks we like better than NetAppNetApp Inc. NASDAQ: NTAP is a data management company that enables companies to store, share and manage data on-pr ...

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even higher." With this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving that way. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even though momentum is a popular stock char ...