NetApp (NTAP) Could Target CommVault (CVLT) or Quantum (QTM) To Restore Its Roar
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Price: $192.27 -0.28%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.1%
Revenue Growth %: +17.3%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.1%
Revenue Growth %: +17.3%
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NetApp (Nasdaq: NTAP) may be on the prowl for acquisitions to regain its luster, Bloomberg reported Monday.
While 2011 sales are up, NetApp's stock price is down significantly (~38%) and the Company may now look to put some of its cash (~4.6 billion) to work.
In order to keep up with rival EMC (NYSE: EMC), NTAP may have Quantum (NYSE: QTM) and/or CommVault Systems (Nasdaq: CVLT) in its sights.
There are macro concerns, with 25% of NTAP's revenue coming from Europe and clients are spending cautiously, so as growth slows and competition picks up...mergers/acquisitions are a more serious and viable solution.
Bloomberg stated that spokespeople for NTAP, QTM and CVLT all declined comment.
While 2011 sales are up, NetApp's stock price is down significantly (~38%) and the Company may now look to put some of its cash (~4.6 billion) to work.
In order to keep up with rival EMC (NYSE: EMC), NTAP may have Quantum (NYSE: QTM) and/or CommVault Systems (Nasdaq: CVLT) in its sights.
There are macro concerns, with 25% of NTAP's revenue coming from Europe and clients are spending cautiously, so as growth slows and competition picks up...mergers/acquisitions are a more serious and viable solution.
Bloomberg stated that spokespeople for NTAP, QTM and CVLT all declined comment.
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