Barclays Q1 Review on NetApp (NTAP): Is EMC Corp (EMC) Taking Market Share?
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Price: $37.19 -1.72%
Rating Summary:
17 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Rating Summary:
17 Buy, 21 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 43 | New: 13
Trade NTAP Now!
Barclays maintains an 'Equalweight' on NetApp (NASDAQ: NTAP) price target of $36.00 (from $34.00).
Analyst, Ben A. Reitzes, said, "Although NetApp benefited from lower opex and subdued guidance, shares should see some relief following an in-line guide for the October quarter, which seems to be enough to satisfy investors. We remain concerned about weaker-than-expected product revenue trends and will need to see evidence of a fundamental improvement in the adoption of ONTAP 8.1 and stability in market share. We believe NetApp's product growth trends suggest the company is still losing share to EMC (NYSE: EMC) given its momentum with new products in the 2H12."
Reitzes raises Q2'13 EPS estimate from $0.43 to $0.48. FY13 EPS estimate from $2.00 to $2.12 and revenues from $6.36B to $6.40B. FY14 raised from $2.22 to $2.28 and revenues from $6.88B to $6.90B. FY15 raised from $2.46 to $2.48.
For an analyst ratings summary and ratings history on NetApp click here. For more ratings news on NetApp click here.
Shares of NetApp closed at $31.75 yesterday, with a 52 week range of $27.79-$46.80.
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Analyst, Ben A. Reitzes, said, "Although NetApp benefited from lower opex and subdued guidance, shares should see some relief following an in-line guide for the October quarter, which seems to be enough to satisfy investors. We remain concerned about weaker-than-expected product revenue trends and will need to see evidence of a fundamental improvement in the adoption of ONTAP 8.1 and stability in market share. We believe NetApp's product growth trends suggest the company is still losing share to EMC (NYSE: EMC) given its momentum with new products in the 2H12."
Reitzes raises Q2'13 EPS estimate from $0.43 to $0.48. FY13 EPS estimate from $2.00 to $2.12 and revenues from $6.36B to $6.40B. FY14 raised from $2.22 to $2.28 and revenues from $6.88B to $6.90B. FY15 raised from $2.46 to $2.48.
For an analyst ratings summary and ratings history on NetApp click here. For more ratings news on NetApp click here.
Shares of NetApp closed at $31.75 yesterday, with a 52 week range of $27.79-$46.80.
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