This Top Computer and Technology Stock is a #1 (Strong Buy): Why It Should Be on Your Radar
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Whether you're a growth, value, income, or momentum-focused investor, building a successful investment portfolio takes skill, research, and a little bit of luck.
Should You Buy #1 (Strong Buy)-Ranked NetApp (NTAP) for Your Portfolio?
NetApp was upgraded to the Zacks Rank #1 list on September 27, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.
NetApp provides enterprise storage as well as data management software and hardware products and services. The San Jose, CA based company assists enterprises in managing multiple clouds environments, adopting next-generation technologies like artificial intelligence (AI), Kubernetes, and contemporary databases, and navigating the complexity brought about by the quick development of data and cloud usage.
For fiscal 2025, eight analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.23 to $7.08 per share. NTAP boasts an average earnings surprise of 8.6%.
Earnings are forecasted to see growth of 9.6% for the current fiscal year, and sales are expected to increase 5%.
NTAP has been moving higher over the past four weeks as well, up 8.2% compared to the S&P 500's gain of 4.9%.
Bottom Line
With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, NetApp could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.
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