NetApp Inc. NTAP Stock Analysis

NetApp Inc. stock trades under the ticker NTAP & has shown recent bullishness that traders & investors should take note of.

NTAP stock closed at $87.33/share on 2/7/2022, with additional bullish momentum to run.

NetApp Inc. NTAP Stock’s Technicals Broken Down

NetApp Inc. NTAP Stock's Technical Performance Over The Last Year

NTAP Stock Price: $87.33

10 Day Moving Average: $86.57

50 Day Moving Average: $89.56

200 Day Moving Average: $84.89

RSI: 45.51

MACD: -0.977

Yesterday, NTAP completed a bullish MACD crossover, despite dropping 0.34%.

Their RSI is just below neutral, which should provide them additional strength in the near-term given that they have traded at above average volumes since the beginning of 2022.

NTAP stock’s next tests of resistance will be at $88.46, $88.45 & $89.68.

NetApp Inc. NTAP Stock As A Long-Term Investment

Investors will find NTAP stock’s P/E (ttm) appealing, at 21.30.

Their P/B (mrq) is a bit rich at 25.76.

NetApp Inc.’s Quarterly Revenue Growth Y-o-Y is 10.6%, with 63.5% Quarterly Earnings growth Y-o-Y.

NTAP stock’s balance sheet looks appealing, with Total Cash (mrq) of $4.56B & Total Debt (mrq) of $2.91B.

They offer a 2.24% dividend yield, with a safe 47% payout ratio.

95.56% of NTAP stock’s outstanding share float is held by institutional investors.

NetApp Inc. NTAP Stock As A Short-Term Trade Using Options

NTAP stock has options that traders can trade to hedge against broader market volatility in the near-term.

I am looking at the contracts with the 2/18 expiration date.

The $86 & $87 call options look interesting, although very illiquid.

The $89 & $90 put options also look appealing, although also low in open interest.

NTAP stock has weekly expiration dates though, so open interest may increase as the expiration date draws nearer & other contracts expire.

Tying It All Together

All-in-all, NTAP stock is appealing for both long & short term focused market participants.

Long-term investors will like their balance sheet & dividend yield.

Short-term oriented traders will like their momentum, but will want to see more open interest & liquidity in their medium-term expiration dated contracts.

NTAP stock is worth taking a closer look at, regardless of your trading style.

*** I DO NOT OWN SHARES OF NTAP STOCK ***