NetApp (NTAP) Stock Falls Amid Market Uptick: What Investors Need to Know

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]