Needham & Company Raises Numbers on NetApp (NTAP); In-line Q1...Appears To Be Executing Well
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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 of $40.00 (from $38.00).
Analyst, Glenn Hanus, said, "NTAP reported an essentially in-line F1Q despite macro, FX headwinds, longer sales cycles and smaller transactions. EPS slightly above guide on controlled OPEX. F2Q guide is slightly above Street at 7% q/q growth more inline with normal seasonality on solid product portfolio (ie. refresh entry, latest OS release), field positioning/alliances. NTAP sees macro essentially unchanged vs. few months ago with APAC potentially slightly weaker. NTAP trading toward lower end of historical valuation metrics (ie. 6.5x EV/EBITDA) and appears to be executing well."
FY13 EPS estimate raised from $2.01 to $2.11 and FY14 from $2.38 to $2.42.
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.
Analyst, Glenn Hanus, said, "NTAP reported an essentially in-line F1Q despite macro, FX headwinds, longer sales cycles and smaller transactions. EPS slightly above guide on controlled OPEX. F2Q guide is slightly above Street at 7% q/q growth more inline with normal seasonality on solid product portfolio (ie. refresh entry, latest OS release), field positioning/alliances. NTAP sees macro essentially unchanged vs. few months ago with APAC potentially slightly weaker. NTAP trading toward lower end of historical valuation metrics (ie. 6.5x EV/EBITDA) and appears to be executing well."
FY13 EPS estimate raised from $2.01 to $2.11 and FY14 from $2.38 to $2.42.
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.
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