Brean Capital Remains Sidelined on NetApp (NTAP) Following Annual User Conference
- Wall Street dips on Trump protectionism, Qualcomm drag
- Yahoo! (YHOO) Tops Q4 EPS by 4c; Sees Verizon Deal Closing in Q2, Not Q1
- Aetna's (AET) Humana (HUM) Takeover Blocked by Judge as Anticompetative
- Trump signs order withdrawing U.S. from Trans-Pacific trade deal
- After-Hours Stock Movers 1/23: (REXX) (MRCY) (SYNC) Higher; (FSM) (OCUL) (CASC) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium 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
- General Electric (GE) PT Lowered to $35 at UBS Following 4Q Report
- FBR Capital Starts Colony NorthStar (CLNS) at Outperform, Adds to FBR Alpha Generator List
- UPDATE: Seaport Global Securities Downgrades Kansas City Southern (KSU) to Neutral
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!