Needham & Company Maintains a 'Buy' on NetApp (NTAP); Solid Report Reassures
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Price: $207.08 +1.02%
Rating Summary:
23 Buy, 31 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 31 Hold, 3 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on NetApp (NASDAQ: NTAP) price target raised from $47 to $49.
Analyst, Glenn Hanus, said, "Following a couple of mixed quarters, NTAP reassured investors with F3Q /F4Q rev./EPS about in-line, bookings slightly above plan on balanced strength with recovery in Major Accounts. Only outlier was weak public sector (DoD/intelligence). HDDs slightly constrained rev. but as expected. In light of macro, pubic sector, HDD uncertainty, competition with EMC, gradual rollout of ONTAP 8.1, NTAP provided cautiously optimistic in-line F4Q guide."
"Tweaking F13 estimates and instituting F14 EPS $2.90 on $7.77B (up12% y/y). Buy rating with a target of $49 (was $47) on ~13-14x F14 EPS $2.90 + net cash ~ $9.80."
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 $39.88 yesterday.
Analyst, Glenn Hanus, said, "Following a couple of mixed quarters, NTAP reassured investors with F3Q /F4Q rev./EPS about in-line, bookings slightly above plan on balanced strength with recovery in Major Accounts. Only outlier was weak public sector (DoD/intelligence). HDDs slightly constrained rev. but as expected. In light of macro, pubic sector, HDD uncertainty, competition with EMC, gradual rollout of ONTAP 8.1, NTAP provided cautiously optimistic in-line F4Q guide."
"Tweaking F13 estimates and instituting F14 EPS $2.90 on $7.77B (up12% y/y). Buy rating with a target of $49 (was $47) on ~13-14x F14 EPS $2.90 + net cash ~ $9.80."
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 $39.88 yesterday.
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