NetApp Inc (NASDAQ: NTAP) has reported E.P.S. of $1.52 for its third fiscal quarter (ending January 31) versus $0.30 for the same period a year ago — an increase of 407%. However, this performance was $-0.17 short of the consensus estimate of $1.69. For the latest four quarters through January 31, E.P.S. were $4.48 compared to $5.89 a year ago — a decline of -24%.
Recent Price Action
On 2/29/24, NetApp Inc (NASDAQ: NTAP) stock increased 1.2%, closing at $89.12. Moreover, exceptionally high trading volume at 304% of normal accompanied the advance. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 5.3% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be above 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). The Value Trend Rating reflects complementary signals from PTR’s two proprietary measures of a stock’s attractiveness. NetApp has a slightly positive Appreciation Score of 66 and a very high Power Rating of 92, resulting in the Highest Value Trend Rating.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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