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NetApp (NTAP) is a Top-Ranked Growth Stock: Should You Buy?

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.

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NetApp (NTAP)

NetApp provides enterprise storage as well as data management software and hardware products and services. The Sunnyvale, CA-based company’s product line comprises two storage platforms - FAS storage platform and E-Series platform. The company’s all-flash storage portfolio comprises NVMe-based storage systems and new cloud-based services in order to provide hybrid storage architecture.

NTAP boasts a Growth Style Score of A and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Its bottom-line is projected to rise 3.4% year-over-year for 2023, while Wall Street anticipates its top line to improve by 5.9%.

Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2023. The Zacks Consensus Estimate has increased $0.06 to $5.46 per share. NTAP boasts an average earnings surprise of 12.6%.

On a historic basis, NetApp has generated cash flow growth of 8.1%, and is expected to report cash flow expansion of 26.8% this year.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, NTAP should be on investors' short lists.


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