Brean Capital Remains Sidelined on NetApp (NTAP) Following Annual User Conference
- Stocks dip as earnings pour in, consumer discretionary lags
- UPDATE: Alphabet (GOOG) Tops Q3 EPS Views; Revs Strong
- Baker Hughes (BHI), General Electric (GE) in Partnership Talks, Not Merger Talks
- Cirrus Logic, Inc. (CRUS) Q2 Results and Guidance Beat Estimates
- Amazon.com (AMZN) Misses Q3 EPS by 26c, Offers Q4 Guidance
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Brean Capital reiterated a Hold rating on NetApp (NASDAQ: NTAP) after meeting with management at the company's annual user conference. NTAP highlighted its focus on providing data management capabilities across public, hybrid, and private cloud infrastructure through its Clustered Ontap storage operating system.
Analyst Ananda Baruah commented, "We met with NTAP’s management team in LV at its annual user conference. NTAP makes a case for being strongly positioned to be a leading storage provider that enables data management across public cloud, private cloud, and hybrid cloud platforms. We believe that NTAP is increasingly strengthening its storage value proposition offering under the leadership of CEO George Kurian for next generation data centers. We remind investors that in the Jul Q, Emerging Product sales (60% of product revs) is growing strong at 24% Y/Y (61% of product revenue this Q) and NTAP is vocally stating a return to overall revenue growth by Apr Q '17. With the ongoing cost alignment, NTAP is also guiding for OM expansion from the current 13% to 18% - 20% for FY18 (Apr). We note that the stock is trading at 6x EV/ ‘17 EBITDA."
Shares of NetApp closed at $35.34 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rosenblatt Upgrades NETGEAR (NTGR) to Buy
- Jefferies Raises Price Target as Cheesecake Factory (CAKE) Posts 3Q Beat
- Jefferies Raises Price Target on Exelon Corp. (EXC) Following 3Q EPS Beat
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesBrean Capital
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!