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Over 50% of Analysts Recommend ‘Buy’ for NetApp

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Stock returns

NetApp (NTAP) stock has returned 69% in the last 12 months, -2.3% in the last month, and -5.5% in the last five days. It rose 36% in 2016 and 60% in 2017. Since the start of 2018, the stock has risen 21%.

Storage peers IBM (IBM), Hewlett Packard Enterprise (HPE), and Cisco Systems (CSCO) have returned -5%, 6.5%, and 38%, respectively, in the last 12 months. The S&P 500 (SPY) and the PowerShares QQQ ETF (QQQ) have returned -0.5% and 3.5%, respectively, this year.

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Analysts’ recommendations and price targets

Of the 31 analysts tracking NetApp, 17 have recommended “buy,” 13 have recommended “hold,” and one has recommended “sell.” Analysts’ 12-month average price target for NetApp is $72.26, and their median estimate is $75, to which NetApp is trading at a discount of 12%.

Moving averages

On May 23, NetApp closed at $66.79. Based on that price, the stock is trading as follows:

  • 5.3% above its 100-day moving average of $63.45
  • 0.68% above its 50-day moving average of $66.34
  • 3.1% below its 20-day moving average of $68.94
  • 78% above its 52-week low of $37.43
  • 8% below its 52-week high of $72.85

Technical indicators

NetApp’s 14-day MACD (moving average convergence divergence) is 1.1. MACDs mark the difference between stocks’ short- and long-term moving averages. NetApp’s positive MACD indicates an upward trading trend.

NetApp has a 14-day RSI (relative strength index) score of 48, which shows that the stock is trading closer to oversold territory. An RSI score above 70 indicates that a stock has been overbought, while an RSI score below 30 suggests that it has been oversold.

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