In the last three months, 16 analysts have published ratings on NetApp NTAP, offering a diverse range of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 4 | 2 | 9 | 1 | 0 |
| Last 30D | 1 | 0 | 3 | 1 | 0 |
| 1M Ago | 0 | 1 | 3 | 0 | 0 |
| 2M Ago | 0 | 0 | 0 | 0 | 0 |
| 3M Ago | 3 | 1 | 3 | 0 | 0 |
Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $134.06, along with a high estimate of $155.00 and a low estimate of $110.00. Observing a 6.19% increase, the current average has risen from the previous average price target of $126.25.
Understanding Analyst Ratings: A Comprehensive Breakdown
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 |
|---|---|---|---|---|---|
| Matthew Sheerin | Stifel | Raises | Buy | $140.00 | $138.00 |
| Samik Chatterjee | JP Morgan | Raises | Neutral | $147.00 | $146.00 |
| Tim Long | Barclays | Raises | Equal-Weight | $119.00 | $116.00 |
| David Vogt | UBS | Raises | Neutral | $134.00 | $121.00 |
| Wamsi Mohan | B of A Securities | Raises | Underperform | $110.00 | $105.00 |
| Matt Bryson | Wedbush | Maintains | Neutral | $120.00 | $120.00 |
| Mehdi Hosseini | Susquehanna | Maintains | Positive | $155.00 | $155.00 |
| Jim Suva | Citigroup | Raises | Neutral | $130.00 | $120.00 |
| Amit Daryanani | Evercore ISI Group | Raises | In-Line | $130.00 | $120.00 |
| Matthew Sheerin | Stifel | Raises | Buy | $138.00 | $130.00 |
| Matt Bryson | Wedbush | Maintains | Neutral | $120.00 | $120.00 |
| Mehdi Hosseini | Susquehanna | Raises | Positive | $155.00 | $138.00 |
| Meta Marshall | Morgan Stanley | Raises | Equal-Weight | $127.00 | $106.00 |
| Karl Ackerman | TD Cowen | Raises | Buy | $145.00 | $135.00 |
| Aaron Rakers | Wells Fargo | Raises | Equal-Weight | $135.00 | $120.00 |
| Jim Kelleher | Argus Research | Raises | Buy | $140.00 | $130.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to NetApp. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of NetApp compared to the broader market.
- Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of NetApp's stock. This comparison reveals trends in analysts' expectations over time.
To gain a panoramic view of NetApp's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on NetApp analyst ratings.
About NetApp
NetApp Inc is a 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.
Breaking Down NetApp's Financial Performance
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: NetApp's revenue growth over a period of 3 months has been noteworthy. As of 30 April, 2024, the company achieved a revenue growth rate of approximately 5.5%. This indicates 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: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 17.45%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): NetApp's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 27.2%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): NetApp's ROA stands out, surpassing industry averages. With an impressive ROA of 3.02%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: NetApp's debt-to-equity ratio stands notably higher than the industry average, reaching 2.31. This indicates a heavier reliance on borrowed funds, raising concerns about financial leverage.
Analyst Ratings: What Are They?
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
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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