NetApp Inc (NTAP)
NetApp, Inc. is an American hybrid cloud data services and data management company headquartered in Sunnyvale, California. Founded in 1992 with an IPO in 1995, NetApp offers cloud data services for management of applications and data both online and physically.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 51.56% per annum.
- NTAP price at the close of May 17, 2024 was $110.47 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 457.92% per annum.
- NTAP price at the close of May 17, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of NTAP price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: December 15, 2022
End date: May 17, 2024
a = 2.5497
b = 0.0011
s = 0.0569
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0011) – 1
= 51.56%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0569) – 1
= 25.54%
December 15, 2022 calculations
Top border of price channel:
Exp(Y902)
= Exp(a + b × X902 + 2 × s)
= Exp(a + b × 1,305 + 2 × s)
= Exp(2.5497 + 0.0011 × 1,305 + 2 × 0.0569)
= Exp(4.1501)
= $63.44
Bottom border of price channel:
Exp(Y902)
= Exp(a + b × X902 – 2 × s)
= Exp(a + b × 1,305 – 2 × s)
= Exp(2.5497 + 0.0011 × 1,305 – 2 × 0.0569)
= Exp(3.9226)
= $50.53
May 17, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(2.5497 + 0.0011 × 1,824 + 2 × 0.0569)
= Exp(4.7413)
= $114.59
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(2.5497 + 0.0011 × 1,824 – 2 × 0.0569)
= Exp(4.5138)
= $91.27
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 51.56% per annum.
- NTAP price at the close of May 17, 2024 was $110.47 and was inside the primary price channel.
Secondary Trend
Start date: April 19, 2024
End date: May 17, 2024
a = -3.8775
b = 0.0047
s = 0.0117
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0047) – 1
= 457.92%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0117) – 1
= 4.81%
April 19, 2024 calculations
Top border of price channel:
Exp(Y1,238)
= Exp(a + b × X1,238 + 2 × s)
= Exp(a + b × 1,796 + 2 × s)
= Exp(-3.8775 + 0.0047 × 1,796 + 2 × 0.0117)
= Exp(4.6046)
= $99.94
Bottom border of price channel:
Exp(Y1,238)
= Exp(a + b × X1,238 – 2 × s)
= Exp(a + b × 1,796 – 2 × s)
= Exp(-3.8775 + 0.0047 × 1,796 – 2 × 0.0117)
= Exp(4.5576)
= $95.36
May 17, 2024 calculations
Top border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(-3.8775 + 0.0047 × 1,824 + 2 × 0.0117)
= Exp(4.7365)
= $114.03
Bottom border of price channel:
Exp(Y1,258)
= Exp(a + b × X1,258 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(-3.8775 + 0.0047 × 1,824 – 2 × 0.0117)
= Exp(4.6895)
= $108.80
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 457.92% per annum.
- NTAP price at the close of May 17, 2024 was inside the secondary price channel.