NTAP Stock Summary and Trading Ideas (Netapp | NASDAQ:NTAP)

NetApp Inc is a provider of enterprise data management and storage solutions. The company's segments include Hybrid Cloud and Public Cloud. It generates maximum revenue from the Hybrid Cloud segment. The Hybrid Cloud segment offers a portfolio of storage management and infrastructure solutions that help customers recast their traditional data centers with the power of cloud. This portfolio is designed to operate with public clouds to unlock the potential of hybrid, multi-cloud operations. Hybrid Cloud is composed of software, hardware, and related support, as well as professional and other services.

Netapp trades on the NASDAQ stock market under the symbol NTAP.

As of January 23, 2025, NTAP stock price climbed to $126.30 with 979,100 million shares trading.

NTAP has a beta of 1.54, meaning it tends to be more sensitive to market movements. NTAP has a correlation of 0.36 to the broad based SPY ETF.

NTAP has a market cap of $25.68 billion. This is considered a Large Cap stock.

Last quarter Netapp reported $2 billion in Revenue and $1.87 earnings per share. This beat revenue expectation by $18 million and exceeded earnings estimates by $.09.

In the last 3 years, NTAP traded as high as $135.45 and as low as $58.08.

The top ETF exchange traded funds that NTAP belongs to (by Net Assets): VTI, VOO, VO, SPY, IVV.

NTAP has outperformed the market in the last year with a price return of +44.8% while the SPY ETF gained +27.6%. NTAP has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +5.9% and +7.0%, respectively, while the SPY returned +4.9% and +3.4%, respectively.

NTAP support price is $124.22 and resistance is $127.88 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NTAP shares will trade within this expected range on the day.