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Will NetApp Beat Analyst Estimates in Fiscal 2Q18?

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Part 5
Will NetApp Beat Analyst Estimates in Fiscal 2Q18? PART 5 OF 6

How Has NetApp Stock Performed since 2016?

NetApp’s stock returns

NetApp (NTAP) has generated returns of 40% in the trailing-12-month period and has risen ~31% since the start of calendar 2017 after rising over 36% in 2016. NetApp stock has risen 4.4% in the past month and risen 4.6% in the past five trading days. Among peers, Western Digital (WDC), Seagate (STX) and IBM (IBM) have generated returns of 52%, 8%, and -3%, respectively, in the trailing-12-month period.

NetApp will be banking on its all-flash array product portfolio to drive revenue growth and offset the decline in its legacy products. In fiscal 1Q18, NetApp’s product sales rose 10%, while its all-flash array revenue run rate rose 95%. If NetApp manages to beat revenue estimates in fiscal 2Q18, the share prices might rise.

How Has NetApp Stock Performed since 2016?

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Moving averages

On November 9, NetApp closed the trading day at $46.3. Based on that price, the stock’s moving averages are as follows:

  • 10.1% above its 100-day moving average of $42.05
  • 7.9% above its 50-day moving average of $42.9
  • 4.2% above its 20-day moving average of $44.44

RSI and MACD

NetApp’s 14-day MACD (moving average convergence divergence) is 0.5. A stock’s MACD is the difference between its short-term and long-term moving averages. Since NetApp’s MACD is positive, it suggests an upward trading pattern.

NetApp has a 14-day RSI (relative strength index) score of 62, which shows that the stock is trading close to overbought territory. If an RSI is above 70, it means that a stock has likely been overbought, while an RSI figure below 30 suggests that the stock may be oversold.

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