NetApp (NTAP) Stock Moves -1.41%: What You Should Know

In the latest close session, NetApp (NTAP) was down 1.41% at $154.17. Elsewhere, the Dow saw an upswing of 1.14%, while the tech-heavy Nasdaq depreciated by 0.8%. Heading into today, shares of the data storage company had lost 13.64% over the past month, lagging the Computer and Technology sector's loss of 5.47% and the S&P 500's loss of 1.43%.The upcoming earnings release of NetApp will be of great interest to investors. On that day, NetApp is projected to report earnings of $2.11 per share, which would represent year-over-year growth of 36.13%. In the meantime, our current consensus estimate forecasts the revenue to be $1.83 billion, indicating a 17.43% growth compared to the corresponding quarter of the prior year. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $8.88 per share and revenue of $7.48 billion. These totals would mark changes of +9.23% and +8.07%, respectively, from last year. Any recent changes to analyst estimates for NetApp should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NetApp is currently a Zacks Rank #3 (Hold). Looking at its valuation, NetApp is holding a Forward P/E ratio of 17.62. Its industry sports an average Forward P/E of 15.32, so one might conclude that NetApp is trading at a premium comparatively. Investors should also note that NTAP has a PEG ratio of 2.31 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Computer- Storage Devices was holding an average PEG ratio of 1.7 at yesterday's closing price. The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 17, which puts it in the top 7% of all 250+ industries. The Zacks Industry Rank gauges the strength of our individual 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. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>This article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks