Baird Raises Price Target on NetApp (NTAP) to $40; Reiterates Neutral
- Wall Street falls as investors ready for Trump's inauguration
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
- Skyworks Solutions (SWKS) Tops Q1 EPS by 3c, Offers Q2 Guidance, Announces Buyback
- After-Hours Stock Movers 01/19: (SWKS) (QRVO) (NVAX) Higher; (AFMD) (SGYP) (IBM) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Baird reiterated a Neutral rating on NetApp (NASDAQ: NTAP), and raised the price target to $40.00 (from $37.00), following the company's 2Q earnings report. NetApp posted revenue/non-GAAP EPS of approximately $1.34 billion/$0.60 compared to consensus of $1.36 billion/$0.60. Management guided 3Q revenue/non-GAAP EPS to $1.325-$1.475 billion/$0.72-$0.77 above the consensus estimate of $1.35 billion/$0.63.
Analyst Jayson Noland commented, "NetApp posted good results relative to low expectations (as previewed) taking the stock up sharply in the after-market. Specifically, the company is showing strong progress in the AFA market and a faster return to target operating margins than expected. We are encouraged by NetApp’s recent performance but continue to have longer-term concerns regarding the Enterprise Storage market."
Shares of NetApp closed at $34.73 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Goldman Sachs (GS) PT Raised to $256.00 at Oppenheimer Following 4Q Report
- Plexus (PLXS) PT Raised to $57 at RBC Capital
- Tutor Perini Corporation (TPC) PT Raised to $35.00 at Canaccord Genuity
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRobert W Baird, Earnings, Jayson Noland
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!