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published in Blogs
Oct 11, 2019

NetApp (NTAP, $49.78) gets rating downgrade and price target cut from Goldman Sachs, on enterprise market concerns

On Thursday, NetApp shares got a rating downgrade and a price target cut from Goldman Sachs analyst Rod Hall.

Hall lowered his rating on the cloud data services company’s stock to sell from buy. He slashed his price target on the shares as well.

The analyst is concerned that trade tensions and economic uncertainty will weigh on enterprise spending, thereby making NetApp vulnerable. Hill indicated in his note that NetApp’s Enterprise License Agreement guidance of 2% of total revenue in FY’20, which is heavily second-half loaded, may be difficult to achieve given that the deals tend to largely involve larger enterprise customers.

However, several other analysts might have had a somewhat different view in the recent past, regarding NetApp shares. Cowen analyst Karl Ackerman in August upgraded NetApp stock to market perform from underperform and hiked his price target to $45 from $40. Last month, Susquehanna analyst Mehdi Hosseini upgraded his rating to positive from neutral, and also raised his one-year price target to $75 from $54.

Related Ticker: NTAP

NTAP sees MACD Histogram crosses below signal line

NTAP saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on June 24, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 46 instances where the indicator turned negative. In of the 46 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

The 10-day RSI Indicator for NTAP moved out of overbought territory on June 24, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 53 similar instances where the indicator moved out of overbought territory. In of the 53 cases, the stock moved lower in the following days. This puts the odds of a move lower at .

The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 66 cases where NTAP's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .

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 28, 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.

Bullish Trend Analysis

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NTAP advanced for three days, in of 346 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 287 cases where NTAP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

Tickeron has a negative outlook on this ticker and predicts a further decline by more than 4.00% within the next month with a likelihood of 80%.

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 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 79, placing this stock better than average.

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 Valuation Rating of (best 1 - 100 worst) indicates that the company is fair valued 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 -3%. For the same Industry, the average monthly price growth was -6%, and the average quarterly price growth was 22%. SGE experienced the highest price growth at 15%, while QMCO experienced the biggest fall at -25%.

Volume

The average weekly volume growth across all stocks in the Computer Peripherals Industry was 113%. For the same stocks of the Industry, the average monthly volume growth was 167% and the average quarterly volume growth was 21%

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: 60
Price Growth Rating: 49
SMR Rating: 81
Profit Risk Rating: 79
Seasonality Score: 5 (-100 ... +100)
Related Portfolios: Computer Stocks
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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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