NetApp Upgraded to Positive at BWG Global

BWG Global upgraded its view of NetApp (NTAP) to Positive from Mixed, citing checks. NetApp is working with Nvidia to support Nvidia AI Data Platform reference design. The upgrade reflects BWG's confidence in NetApp's performance and potential for growth.

NetApp (NTAP) has seen a positive upgrade in its stock outlook from BWG Global, moving from a Mixed to a Positive rating. This upgrade reflects BWG's confidence in NetApp's performance and potential for growth, particularly in the context of its collaboration with Nvidia. The upgrade comes on the heels of NetApp's recent partnership to support Nvidia's AI Data Platform reference design, signaling BWG's belief in the company's ability to leverage this technology to drive future success.

NetApp's stock has shown strong performance recently, closing at $99.53 in the latest trading session, a +1.12% increase from the previous day [1]. This performance outpaced the S&P 500's 0.73% gain and the Dow's 0.64% loss, while the tech-heavy Nasdaq added 1.61%. Over the past month, NetApp's stock has risen by 18.19%, leading the Computer and Technology sector's gain of 11.93% and the S&P 500's gain of 9.07%.

Investors are eagerly anticipating NetApp's earnings report, scheduled for May 29, 2025. Analysts predict an EPS of $1.89, indicating a 5% growth compared to the same quarter last year. The revenue is forecast to reach $1.73 billion, representing a 3.42% increase over the prior year. The company's Zacks Rank is currently at #3 (Hold), with a Forward P/E ratio of 12.71 and a PEG ratio of 1.48.

The Computer-Storage Devices industry, of which NetApp is a part, ranks in the bottom 10% of all industries, according to the Zacks Industry Rank. However, BWG's upgrade suggests that the industry may be poised for improvement, particularly with companies like NetApp demonstrating strong performance and strategic partnerships.

References:
[1] https://www.nasdaq.com/articles/netapp-ntap-surpasses-market-returns-some-facts-worth-knowing-0