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NTAP-Q
HOLD
Mar 27, 2024
$105.190
Stock price when the opinion was issued
computer software
processing
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DON'T BUY
One of the great net workers and now data storage company. Has been in a pretty deep down trend for some time and he doesn't know why it is like that. Would be more interested if there was some buying on it and it broke the $32 - $33 level. Would stick with large caps right now.
computer software
processing
NTAP provides services to manage and share data on cloud and premises, and is now trading at 15x times' Forward P/E. In the last few years, growth was quite mature, in the mid-single-digit range on average. The balance sheet is strong, with net cash of $267M. The company has been paying dividends and repurchasing shares aggressively over the last few years. Based on consensus estimates, sales are expected to grow by about 3% on average going forward. Overall, a value type of name with lots of cash flow to be returned to shareholders but limited growth prospects.
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