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NetApp (NTAP) Stock Moves -1.92%: What You Should Know

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NetApp (NTAP - Free Report) closed at $56.75 in the latest trading session, marking a -1.92% move from the prior day. This change was narrower than the S&P 500's daily loss of 2.06%. Elsewhere, the Dow lost 1.81%, while the tech-heavy Nasdaq lost 2.99%.

Heading into today, shares of the data storage company had lost 12.21% over the past month, lagging the Computer and Technology sector's loss of 2.89% and the S&P 500's loss of 6.47% in that time.

NTAP will be looking to display strength as it nears its next earnings release, which is expected to be February 13, 2019. In that report, analysts expect NTAP to post earnings of $1.15 per share. This would mark year-over-year growth of 16.16%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.60 billion, up 5.16% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.50 per share and revenue of $6.30 billion. These totals would mark changes of +29.68% and +6.52%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for NTAP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NTAP is holding a Zacks Rank of #2 (Buy) right now.

Digging into valuation, NTAP currently has a Forward P/E ratio of 12.86. For comparison, its industry has an average Forward P/E of 12.86, which means NTAP is trading at a no noticeable deviation to the group.

Meanwhile, NTAP's PEG ratio is currently 0.9. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. NTAP's industry had an average PEG ratio of 0.9 as of yesterday's close.

The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 205, which puts it in the bottom 20% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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