During the last three months, 10 analysts shared their evaluations of NetApp NTAP, revealing diverse outlooks from bullish to bearish.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 1 | 1 | 7 | 1 | 0 |
| Last 30D | 0 | 0 | 0 | 1 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 7 | 0 | 0 |
| 3M Ago | 0 | 0 | 0 | 0 | 0 |
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $87.4, with a high estimate of $100.00 and a low estimate of $80.00. This current average reflects an increase of 12.05% from the previous average price target of $78.00.
Deciphering Analyst Ratings: An In-Depth Analysis
The standing of NetApp among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Samik Chatterjee | JP Morgan | Announces | Underweight | $87.00 | - |
| Jim Suva | Citigroup | Raises | Neutral | $90.00 | $83.00 |
| Samik Chatterjee | JP Morgan | Raises | Neutral | $89.00 | $86.00 |
| Meta Marshall | Morgan Stanley | Raises | Equal-Weight | $84.00 | $74.00 |
| Matt Bryson | Wedbush | Raises | Neutral | $85.00 | $75.00 |
| Matthew Sheerin | Stifel | Raises | Buy | $90.00 | $85.00 |
| Nehal Chokshi | Northland Capital Markets | Announces | Market Perform | $100.00 | - |
| Simon Leopold | Raymond James | Raises | Outperform | $83.00 | $80.00 |
| Aaron Rakers | Wells Fargo | Raises | Equal-Weight | $86.00 | $72.00 |
| Tim Long | Barclays | Raises | Equal-Weight | $80.00 | $69.00 |
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: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of NetApp compared to the broader market.
- Price Targets: Analysts navigate through adjustments in price targets, providing estimates for NetApp's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.
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 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.
Financial Insights: NetApp
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Challenges: NetApp's revenue growth over 3 months faced difficulties. As of 31 October, 2023, the company experienced a decline of approximately -6.07%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Net Margin: NetApp's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 14.92%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): NetApp's ROE excels beyond industry benchmarks, reaching 28.36%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): NetApp's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 2.54%, the company showcases efficient use of assets and strong financial health.
Debt Management: NetApp's debt-to-equity ratio surpasses industry norms, standing at 3.46. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
Analyst Ratings: What Are They?
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
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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