How Will the Market React to NetApp Inc. (NTAP) Stock Getting a Bullish Rating

Monday, October 18, 2021 11:50 AM | InvestorsObserver Analysts

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The market has been high on NetApp Inc. (NTAP) stock recently. NTAP gets a Bullish score from InvestorsObserver Stock Sentiment Indicator.

NetApp Inc. has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on NTAP!
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What is Stock Sentiment?

When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment. Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor. InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon. The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.

What's Happening With NTAP Stock Today?

NetApp Inc. (NTAP) stock is down -3.44% while the S&P 500 has risen 0.15% as of 11:44 AM on Monday, Oct 18. NTAP has fallen -$3.25 from the previous closing price of $94.42 on volume of 1,116,739 shares. Over the past year the S&P 500 is higher by 30.67% while NTAP has risen 89.94%. NTAP earned $3.75 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 24.26. To screen for more stocks like NetApp Inc. click here.

More About NetApp Inc.

NetApp is a leading provider of enterprise data management and storage solutions. The company's three operating business units are products, software maintenance, and hardware maintenance. NetApp transitioned from a data center storage firm to a company with software data management solutions for multicloud environments. The California-headquartered company sells globally and has approximately 10,000 employees. Click Here to get the full Stock Report for NetApp Inc. stock.

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