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Can NetApp (NTAP) Run Higher on Strong Earnings Estimate Revisions?
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NetApp, Inc. (NTAP - Free Report) is the data authority for hybrid cloud that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NTAP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that NetApp could be a solid choice for investors.
Current Quarter Estimates for NTAP
In the past 30 days, eight estimates have gone higher for NetApp while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 84 cents a share 30 days ago, to 90 cents today, a move of 7.1%.
Current Year Estimates for NTAP
Meanwhile, NetApp’s current year figures are also looking quite promising, with ten estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.10 per share 30 days ago to $3.31 per share today, an increase of 6.8%.
The stock has also started to move higher lately, adding 25.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Image: Bigstock
Can NetApp (NTAP) Run Higher on Strong Earnings Estimate Revisions?
NetApp, Inc. (NTAP - Free Report) is the data authority for hybrid cloud that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NTAP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that NetApp could be a solid choice for investors.
Current Quarter Estimates for NTAP
In the past 30 days, eight estimates have gone higher for NetApp while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 84 cents a share 30 days ago, to 90 cents today, a move of 7.1%.
Current Year Estimates for NTAP
Meanwhile, NetApp’s current year figures are also looking quite promising, with ten estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $3.10 per share 30 days ago to $3.31 per share today, an increase of 6.8%.
NetApp, Inc. Price and Consensus
NetApp, Inc. Price and Consensus | NetApp, Inc. Quote
Bottom Line
The stock has also started to move higher lately, adding 25.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>