Alert: Positive Investment/Fundamental Signals (12/4/23)-NetApp Inc (NASDAQ: NTAP)


Recent extremely meaningful positive changes in investment behavior have benefitted NetApp Inc (NASDAQ: NTAP): its shorter term price trend turned up, and the stock’s recent price rise disrupted its longer term downtrend.

NetApp Inc (NASDAQ: NTAP) has recently enjoyed significant positive changes in fundamentals. Positive developments: the consensus estimate for April, 2024 increased significantly, the consensus estimate for April, 2023 increased significantly, and significant quarterly earnings acceleration occurred. Negative development: significant quarterly sales deceleration occurred.

In light of these very positive signals we are reviewing our current Overall Rating of A. We would continue to view the shares with optimism pending completion of this review in the next several days.


Current PriceTarget Research Rating

Reflecting future returns on capital that are forecasted to exceed the cost of capital, NTAP is expected to continue to be a major Value Builder.

NetApp has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing complementary signals. NetApp has a slightly positive Appreciation Score of 62 and a very high Power Rating of 94, and the Highest Value Trend Rating results.

Recent Price Action

NetApp Inc (NASDAQ: NTAP) stock closed at $90.31 on 12/4/23 after a modest decline of -1.1%. Moreover, this decline was accompanied by above average trading volume at 140% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 15.3% during the last week.

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