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published in Blogs
Aug 26, 2019

NetApp (NTAP, $46.24) gets rating boost and price target raise from Cowen

NetApp shares climbed on Monday, after receiving a rating upgrade and a price target hike from Cowen.

Analysts at Cowen boosted their rating on the hybrid cloud data services/management company’s stock to market perform from underperform. Also, they raised their price target on the shares to $45 from $40.  According to Cowen analysts,the negative news that led the stock to lose about -20% in August already has been priced into the stock. 

However, the analysts did express concern over NetApp’s near-term headwinds such as competition from market incumbents and nascent storage players for product share gain.

But Cowen’s outlook on NetApp is largely optimistic for the long-term. They indicated that NTAP's leadership in hybrid cloud purpose-built storage systems and data management software should help the company generate low-single digit revenue growth and high-single digit EPS growth through 2020.  They also praised NetApp’s “industry-leading profitability and capital return to shareholders”.

 

 

Related Ticker: NTAP

NTAP in upward trend: 10-day moving average crossed above 50-day moving average on May 06, 2024

The 10-day moving average for NTAP crossed bullishly above the 50-day moving average on May 06, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 19 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Momentum Indicator moved above the 0 level on May 01, 2024. You may want to consider a long position or call options on NTAP as a result. In of 84 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

The Moving Average Convergence Divergence (MACD) for NTAP just turned positive on May 03, 2024. Looking at past instances where NTAP's MACD turned positive, the stock continued to rise in of 46 cases over the following month. The odds of a continued upward trend are .

NTAP moved above its 50-day moving average on April 23, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NTAP advanced for three days, in of 341 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 289 cases where NTAP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 4 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 18 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where NTAP declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

NTAP broke above its upper Bollinger Band on May 08, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. NTAP’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 81, placing this stock better than average.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: NTAP's P/B Ratio (21.786) is slightly higher than the industry average of (6.084). P/E Ratio (23.925) is within average values for comparable stocks, (63.089). Projected Growth (PEG Ratio) (0.944) is also within normal values, averaging (55.962). Dividend Yield (0.019) settles around the average of (0.034) among similar stocks. P/S Ratio (3.636) is also within normal values, averaging (12.086).

Notable companies

The most notable companies in this group are Arista Networks (NYSE:ANET), Dell Technologies (NYSE:DELL), HP (NYSE:HPQ), Western Digital Corp (NASDAQ:WDC), NetApp (NASDAQ:NTAP), Seagate Technology Holdings PLC (NASDAQ:STX), Pure Storage (NYSE:PSTG), 3D Systems Corp (NYSE:DDD).

Industry description

Computer peripherals connect to a computer system to add functionality or to get information from or put information into computers. Think hard disk drive, data storage systems, cloud storage devices, printer and scanner, or mouse, keyboard etc. Some of the major companies operating in the computer peripherals industry include Western Digital Corporation, Seagate Technology PLC, NetApp, Inc., Zebra Technologies Corporation, and Xerox Holdings Corp.

Market Cap

The average market capitalization across the Computer Peripherals Industry is 8.62B. The market cap for tickers in the group ranges from 1.2K to 262.23B. ADTEF holds the highest valuation in this group at 262.23B. The lowest valued company is DPSM at 1.2K.

High and low price notable news

The average weekly price growth across all stocks in the Computer Peripherals Industry was 11%. For the same Industry, the average monthly price growth was 15%, and the average quarterly price growth was 11%. VRTK experienced the highest price growth at 90%, while QMCO experienced the biggest fall at -20%.

Volume

The average weekly volume growth across all stocks in the Computer Peripherals Industry was 10%. For the same stocks of the Industry, the average monthly volume growth was -5% and the average quarterly volume growth was 180%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 51
P/E Growth Rating: 59
Price Growth Rating: 54
SMR Rating: 81
Profit Risk Rating: 81
Seasonality Score: 28 (-100 ... +100)
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NTAPDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
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General Information

Provides data management and storage solutions

Industry ComputerPeripherals

Profile
Fundamentals
Details
Industry
Computer Peripherals
Address
3060 Olsen Drive
Phone
+1 408 822-6000
Employees
12000
Web
https://www.netapp.com
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