9 analysts have shared their evaluations of NetApp NTAP during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 1 | 6 | 1 | 0 |
| Last 30D | 0 | 0 | 1 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 1 | 5 | 1 | 0 |
The 12-month price targets, analyzed by analysts, offer insights with an average target of $107.33, a high estimate of $120.00, and a low estimate of $95.00. This upward trend is apparent, with the current average reflecting a 14.31% increase from the previous average price target of $93.89.
Interpreting Analyst Ratings: A Closer Look
A comprehensive examination of how financial experts perceive NetApp is derived from recent analyst actions. The following is a detailed summary of key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Jim Suva | Citigroup | Raises | Neutral | $120.00 | $110.00 |
| Jim Suva | Citigroup | Raises | Neutral | $110.00 | $90.00 |
| David Vogt | UBS | Raises | Neutral | $96.00 | $93.00 |
| Samik Chatterjee | JP Morgan | Raises | Underweight | $95.00 | $87.00 |
| Matthew Sheerin | Stifel | Raises | Buy | $120.00 | $105.00 |
| Matt Bryson | Wedbush | Raises | Neutral | $100.00 | $85.00 |
| Krish Sankar | TD Cowen | Raises | Outperform | $120.00 | $100.00 |
| Amit Daryanani | Evercore ISI Group | Raises | In-Line | $105.00 | $95.00 |
| Tim Long | Barclays | Raises | Equal-Weight | $100.00 | $80.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to NetApp. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of NetApp compared to the broader market.
- Price Targets: Analysts provide insights into price targets, offering estimates for the future value of NetApp's stock. This comparison reveals trends in analysts' expectations over time.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of NetApp's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on NetApp analyst ratings.
Delving into NetApp's Background
NetApp Inc is a leading provider of enterprise data management and storage solutions. The company's segments include Hybrid Cloud and Public Cloud. It generates maximum revenue from the Hybrid Cloud segment. The Hybrid Cloud segment offers a portfolio of storage management and infrastructure solutions that help customers recast their traditional data centers with the power of cloud. This portfolio is designed to operate with public clouds to unlock the potential of hybrid, multi-cloud operations. Hybrid Cloud is composed of software, hardware, and related support, as well as professional and other services.
A Deep Dive into NetApp's Financials
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: NetApp's remarkable performance in 3 months is evident. As of 31 January, 2024, the company achieved an impressive revenue growth rate of 5.24%. This signifies a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: NetApp's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 19.49%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): NetApp's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 35.49%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 3.39%, the company showcases effective utilization of assets.
Debt Management: NetApp's debt-to-equity ratio surpasses industry norms, standing at 2.67. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
How Are Analyst Ratings Determined?
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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