In the latest trading session, NetApp (NTAP) closed at $124.47, marking a -0.06% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.71%. Meanwhile, the Dow lost 1.7%, and the Nasdaq, a tech-heavy index, lost 2.2%.

Prior to today's trading, shares of the data storage company had lost 1.39% over the past month. This has lagged the Computer and Technology sector's gain of 0.02% and the S&P 500's gain of 2.2% in that time.

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. On that day, NetApp is projected to report earnings of $1.90 per share, which would represent a year-over-year decline of 2.06%. Alongside, our most recent consensus estimate is anticipating revenue of $1.69 billion, indicating a 5.16% upward movement from the same quarter last year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $7.32 per share and a revenue of $6.65 billion, signifying shifts of +13.31% and +6.06%, respectively, from the last year.

Investors should also take note of any recent adjustments to analyst estimates for NetApp. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, NetApp holds a Zacks Rank of #3 (Hold).

From a valuation perspective, NetApp is currently exchanging hands at a Forward P/E ratio of 17.01. Its industry sports an average Forward P/E of 17.01, so one might conclude that NetApp is trading at no noticeable deviation comparatively.

Also, we should mention that NTAP has a PEG ratio of 1.97. 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. NTAP's industry had an average PEG ratio of 1.97 as of yesterday's close.

The Computer- Storage Devices industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 152, finds itself in the bottom 40% echelons of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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

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