New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 13, 2014
05:41 EDTNTAPNetApp guidance conservative, not cause for concern, says Piper Jaffray
Piper Jaffray views NetApp's Q4 guidance as conservative and feels the outlook is not a cause for concern. Piper continues to believe NetApp’s branded revenue growth and gross margin expansion will outpace peers and keeps an Overweight rating on the stock with a $52 price target.
News For NTAP From The Last 14 Days
Check below for free stories on NTAP the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 26, 2014
15:04 EDTNTAPNetApp extends alliance with VMware on cloud computing
Subscribe for More Information
August 14, 2014
11:45 EDTNTAPNetApp rises after earnings beat, Needham upgrade
Shares of storage systems provider NetApp (NTAP) are advancing after the company posted better than expected first quarter results and received positive analyst commentary. WHAT'S NEW: Last night, NetApp reported Q1 adjusted earnings per share of 60c and revenue of $1.49B, beating analysts' consensus estimates of 57c and $1.47B, respectively. Q1 adjusted gross margin was 64.3%. WHAT'S NOTABLE: NetApp forecast second quarter adjusted EPS of 66c-71c and revenue of $1.49B-$1.59B, compared to consensus of 69c and $1.53B, respectively. For fiscal 2015, the company sees EPS growth just under 10% and revenue growth in the mid-single digits. FY15 adjusted gross margin is seen at 63%-64%. On NetApp's Q1 conference call, management said it was seeing a rebound in enterprise spending in the U.S. ANALYST REACTION: This morning, analyst commentary was overwhelmingly positive. Needham upgraded NetApp to Buy from Hold following its strong Q1 report, citing better enterprise spending. Their price target was $49. Two firms, Piper Jaffray and Brean Capital, raised their respective price targets on NetApp and Pacific Crest said NetApp is "'undervalued and underappreciated," noting that the company's Q1 results included 13% earnings growth year-over-year. PRICE ACTION: In late morning trading, NetApp rose $1.47, or 3.7%, to $40.77 on heavy trading volume. Despite today's advance, the stock is down approximately 4% over the past 12 months. OTHERS TO WATCH: Other companies in the storage space include: EMC (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
10:05 EDTNTAPOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
07:44 EDTNTAPNetApp 'undervalued and underappreciated,' says Pacific Crest
Subscribe for More Information
07:33 EDTNTAPNetApp price target raised to $45 from $42 at Brean Capital
Brean Capital raised its price target on NetApp to $45 from $42 following its Q1 results, citing gross margins improvement and higher OEM revenues. The firm keeps its Buy rating on NetApp.
06:47 EDTNTAPNetApp upgraded to Buy from Hold at Needham
Subscribe for More Information
06:39 EDTNTAPNetApp product cycle bottomed in Q4, says Cantor
Cantor Fitzgerald believes NetApp's product cycle bottomed in Q4 after the company reported upside in Q1 and issued a "healthy" outlook for Q2. Cantor sees "excellent execution" by NetApp and a slightly improved spending environment. The firm raised its price target for shares to $47 from $45 and keeps a Buy rating on the stock.
06:37 EDTNTAPNetApp price target raised to $46 from $42 at Piper Jaffray
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use