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NetApp Inc trading signal - NTAP

U.S. Stock Price Signals and Analysis

Good Morning Traders,

With yesterday's close on October 10,  Lift-Off offers a SHORT trading signal on the U.S. stock NetApp Inc (Ticker: NTAP) listed on the NASDAQ and part of the S&P500 Index.

The stock closed at $69.04 per share, marking a -3.09%.

The company operates in the "Electronic Technology" sector particularly in the "Computer Peripherals Industry"

Financial strength data are slightly poor, with, however a good Cash-To-Debt ratio of 1.16, WACC vs ROIC is good, but stress indicators are not excellent. The profitability level figures are very good both compared to industries in the same sector and its history.

Future growth projection is good for the next 3 years

At this time the price is undervalued compared to the intrinsic value attributed to it.

Turnover is about stable year-on-year and quarter-on-quarter, net income very fluctuating, with April 2022 figures catching up well with 2020 and 2021 figures, the latest Q2'22 reading reports lower net income than the previous one.

Debts rising in 2021 and 2022, stable in quarterly readings since Q2'20, while cash flow declining year-on-year and down slightly since Q3'21.

Next earnings release for Q3 2022: November 29, 2022

Below chart of NetApp Inc - NTAP - with signal detected by Lift-Off 

Some information  NetApp Inc.

NetApp, Inc. provides software, systems and services to manage and share on-premise and public and private cloud data worldwide. 

The company offers cloud data services, cloud infrastructure solutions, a portfolio of pre-validated projects and integrations, and a software-defined object-based storage solution. 

The company also offers storage systems and software, including supporting data management, flash storage speed deployment, storage operating system, virtualization software, API services, NetApp data availability services, backup management software, data replication software, business continuity software, and data compliance software. 

It provides software maintenance, hardware maintenance, and other services, including professional services, global support solutions, and customer education and training. The company serves the energy, financial services, government, high tech, Internet, life sciences, health services, manufacturing, media, entertainment, animation, video post production, and telecommunications industries through a direct sales force and partner ecosystem. 

NetApp was founded by David Hitz, James K. Lau, and Michael Malcolm in April 1992 and is headquartered in San Jose, California.

Financial Overview: NTAP's current market capitalization is US$14,364B. The company's TTM EPS is USD 4.27, dividend yield is 3.12% and PE is 15.85. The next earnings release date for NetApp, Inc is Nov. 29. The estimate is US$1.33.

Accounts, including revenue, expenses, profit and loss: NTAP's total revenue for the latest quarter is US$1.59B, down 5.29% from the previous quarter. Net income in Q1 22 is US$214.00M.

Overview data and accounts source: Tradingview.com

Signal board of October 11, 2022

SHORT - NetApp Inc - NTAP

Input price: $64.04 (and any opening price)

Price stop loss or adjustment zone: $68.00

Price take profit zone 1: $59.80 

Price take profit zone 1: $59.80 

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