Key Highlights:
- Bank of America expects NetApp (NTAP, Financial) to slightly surpass Wall Street's revenue forecasts for Q4.
- Analyst Wamsi Mohan remains cautious, maintaining a Neutral rating due to potential enterprise spending slowdowns.
- Analysts' average price target suggests a 17.49% upside, while GuruFocus estimates indicate a potential downside.
Bank of America's Outlook on NetApp
Bank of America projects that NetApp Inc. (NTAP) will slightly exceed Wall Street's revenue expectations for the fourth quarter, forecasting $1,726 million compared to the consensus estimate of $1,720 million. Despite this optimistic outlook, analyst Wamsi Mohan remains cautious, citing potential slowdowns in enterprise spending and increased competition as reasons for maintaining a Neutral rating on the stock with a price target of $120.
Wall Street Analysts' Forecast
According to projections from 15 financial analysts, the average one-year price target for NetApp Inc. (NTAP) is set at $117.49. Price estimates range from a high of $150.00 to a low of $100.00, indicating a potential upside of 17.49% from the current market price of $100.00. For more detailed forecast data, visit the NetApp Inc (NTAP, Financial) Forecast page.
Brokerage Recommendations and GuruFocus Insights
The consensus from 22 brokerage firms on NetApp Inc. (NTAP) is an average recommendation score of 2.6, suggesting a "Hold" status. The recommendation scale ranges from 1 (Strong Buy) to 5 (Sell), providing investors a standardized measure to gauge market sentiment.
Meanwhile, GuruFocus estimates suggest that the estimated GF Value for NetApp Inc. (NTAP) in one year stands at $90.30. This valuation implies a potential downside of 9.7% from the current price of $100. The GF Value is derived from historical trading multiples, past business growth, and future business performance estimates. More comprehensive data is available on the NetApp Inc (NTAP, Financial) Summary page.
