NetApp price target lowered to $39 from $43 at Citigroup Citigroup lowered its price target for NetApp shares to $39 following the company's Q4 results and reiterates a Neutral rating on the name. Citi says the Q1 guide-down was expected and that it remains on the sidelines given NetApp's stagnant growth in enterprise storage.
NetApp buys Riverbed's SteelStore product line for $80M NetApp (NTAP) announced the acquisition of Riverbed Technology's (RVBD) SteelStore product line in an all-cash transaction for approximately $80M. he SteelStore product supports leading backup applications and cloud providers so that customers have a choice in how they extend their existing data protection infrastructure into the cloud. NetApp will offer enterprises cloud-integrated storage to securely and efficiently back up their data to both private and public cloud environments. NetApp expects that the SteelStore product will be available during its fiscal third quarter of 2015.
Cisco sale of VCE stake to have limited impact, says Wells Fargo Wells Fargo thinks Cisco's (CSCO) decision to sell a portion of its stake in VCE is unlikely to have a material near-to-intermediate-term impact on the company's top line since it will continue to sell its networking and compute solutions to the joint venture. Wells says Cisco's "budding" partnerships with NetApp (NTAP), Microsoft (MSFT) and Citrix (CTXS) should more than offset any potential impacts from lessening ties to EMC (EMC) and VMware (VMW).