NetApp (NTAP) closed the most recent trading day at $117.90, moving -1.39% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.27%. Elsewhere, the Dow saw a downswing of 0.51%, while the tech-heavy Nasdaq appreciated by 0.03%.

Shares of the data storage company have appreciated by 2.46% over the course of the past month, outperforming the Computer and Technology sector's gain of 1.69% and lagging the S&P 500's gain of 4.27%.

Market participants will be closely following the financial results of NetApp in its upcoming release. The company plans to announce its earnings on February 27, 2025. The company's earnings per share (EPS) are projected to be $1.90, reflecting a 2.06% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.69 billion, up 5.16% from the year-ago period.

For the full year, the Zacks Consensus Estimates are projecting earnings of $7.31 per share and revenue of $6.65 billion, which would represent changes of +13.16% and +6.06%, respectively, from the prior year.

Investors should also pay attention to any latest changes in analyst estimates for NetApp. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

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 past month, the Zacks Consensus EPS estimate has moved 0.12% higher. NetApp is currently a Zacks Rank #2 (Buy).

In terms of valuation, NetApp is currently trading at a Forward P/E ratio of 16.35. This represents a premium compared to its industry's average Forward P/E of 14.09.

Also, we should mention that NTAP has a PEG ratio of 2.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Computer- Storage Devices stocks are, on average, holding a PEG ratio of 1.87 based on yesterday's closing prices.

The Computer- Storage Devices industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 37, placing it within the top 15% of over 250 industries.

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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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NetApp, Inc. (NTAP) : Free Stock Analysis Report

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