Why NetApp (NTAP) Outpaced the Stock Market Today

NetApp (NTAP) closed at $215.05, up 2.37%, outperforming the broader market and its sector. The stock has gained 16.21% over the past month. Analysts expect Q earnings of $2.6 per share (26.83% YoY growth) and full-year earnings of $10.05 per share (23.62% growth). NetApp holds a Zacks Rank #1 (Strong Buy) rating with consensus EPS estimates rising 13.28% over the last 30 days, though the stock trades at a premium valuation with a Forward P/E of 20.91 versus its industry average of 10.65.