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Why the Market Dipped But NetApp (NTAP) Gained Today
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In the latest close session, NetApp (NTAP - Free Report) was up +1.76% at $186.34. The stock exceeded the S&P 500, which registered a loss of 0.35% for the day. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq decreased by 0.39%.
The data storage company's stock has dropped by 17.59% in the past month, falling short of the Computer and Technology sector's loss of 11.8% and the S&P 500's loss of 2.42%.
Investors will be eagerly watching for the performance of NetApp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on December 1, 2026. It is anticipated that the company will report an EPS of $2.6, marking a 26.83% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.11 billion, indicating a 23.83% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $10.05 per share and a revenue of $8.23 billion, demonstrating changes of +23.62% and +18.91%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for NetApp. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, NetApp possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, NetApp is currently exchanging hands at a Forward P/E ratio of 18.22. This represents a premium compared to its industry average Forward P/E of 11.91.
It's also important to note that NTAP currently trades at a PEG ratio of 1.63. 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. As the market closed yesterday, the Computer- Storage Devices industry was having an average PEG ratio of 1.07.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 23, this industry ranks in the top 10% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.
View the Zacks #1 Rank List
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Why the Market Dipped But NetApp (NTAP) Gained Today
In the latest close session, NetApp (NTAP - Free Report) was up +1.76% at $186.34. The stock exceeded the S&P 500, which registered a loss of 0.35% for the day. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq decreased by 0.39%.
The data storage company's stock has dropped by 17.59% in the past month, falling short of the Computer and Technology sector's loss of 11.8% and the S&P 500's loss of 2.42%.
Investors will be eagerly watching for the performance of NetApp in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on December 1, 2026. It is anticipated that the company will report an EPS of $2.6, marking a 26.83% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $2.11 billion, indicating a 23.83% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $10.05 per share and a revenue of $8.23 billion, demonstrating changes of +23.62% and +18.91%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for NetApp. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, NetApp possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, NetApp is currently exchanging hands at a Forward P/E ratio of 18.22. This represents a premium compared to its industry average Forward P/E of 11.91.
It's also important to note that NTAP currently trades at a PEG ratio of 1.63. 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. As the market closed yesterday, the Computer- Storage Devices industry was having an average PEG ratio of 1.07.
The Computer- Storage Devices industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 23, this industry ranks in the top 10% of all industries, numbering over 250.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.