Needham & Company Downgrades NetApp (NTAP) to Hold Post Q4; 'Worst Conference Calls in Years'

Argus Downgrades NetApp (NTAP) to Hold

Argus downgraded NetApp (NASDAQ: NTAP) from Buy to Hold.

"Our downgrade is based on the deteriorating performance of the companys branded business, which accounts for more than 90% of sales," the analyst said.

"In a troubling sign, NetApp called out its... More

NetApp's (NTAP) Price Target Reduced to $33 at FBN

FBN Securities maintained a Sector Perform rating on NetApp (NASDAQ: NTAP) price and lowered its price target to $33.00 (from $38.00). Analyst Shebly Seyrafi noted that clustered ONTAP disruption and other factors are hurting near-term results.

Seyrafi explained, "The company is pointing to two key factors that explain the reported and guided weakness: disruption from the movement to cloud and disruption from... More

Jefferies Maintains Hold Rating on NetApp (NTAP) Following 4Q Results and 1Q Guidance

Jefferies maintains a Hold rating on NetApp (NASDAQ: NTAP), and lowered the price target to $32.00 (from $37.00), following FQ4 results. NTAP reported revenue of
$1.54B, below the Street's $1.59B estimate. Q4 EPS totaled $0.65, missing Street's estimate of $0.72.

Analyst James Kisner commented on NTAP, saying, "NetApp reported weaker-than-expected FQ4 (April) results and provided even weaker FQ1 (July) guidance. Management blamed product transition issues... More

Piper Jaffray Remains Neutral on NetApp (NTAP) Following Second Consecutive Miss

Piper Jaffray maintains a Neutral rating on NetApp (NASDAQ: NTAP), and lowered the price target to $34.00 (from $36.00), following Q4 miss. NTAP reported revenue of $1.54B, compared to consensus of $1.59B. EPS was $0.65, compared to the company's guidance of $0.70-$0.79. Management says that issues are not related to product.

Analyst Andrew... More

Cantor Fitzgerald Downgrades NetApp (NTAP) to Hold; Secular Challenge and Execution Issues

Cantor Fitzgerald downgraded NetApp (NASDAQ: NTAP) from Buy to Hold with a price target of $35.00 (from $43.00) following weak Q4 and outlook. The firm cited transition and execution issues and secular challenges.

Analyst Brian White commented, "Last night, NetApp reported weak 4Q:FY15 results and a 1Q:FY16 outlook... More

Summit Research Downgrades NetApp (NTAP) to Hold

Summit Research downgraded NetApp (NASDAQ: NTAP) from Buy to Hold with a price target of $32.00 following another miss.

Analyst Srini Nandury commented, "We are downgrading NTAP to HOLD following yet another disappointing quarter and worse than expected guidance. NTAP not only missed the estimates as we had predicted but also lowered the outlook for the full year. We also predicted that the GM... More

JPMorgan Downgrades NetApp (NTAP) to Underweight

JPMorgan downgraded NetApp (NASDAQ: NTAP) from Neutral to Underweight with a price target of $29.00 (from $35.00).

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 $35.33 yesterday.

NetApp (NTAP) Misses Q4 EPS by 7c, Q1 Guidance Misses

NetApp (NASDAQ: NTAP) reported Q4 EPS of $0.65, $0.07 worse than the analyst estimate of $0.72. Revenue for the quarter came in at $1.54 billion versus the consensus estimate of $1.59 billion.

NetApp sees Q1 2016 EPS of $0.20-$0.25, versus the consensus of $0.60. NetApp sees Q1 2016 revenue of $1.275-1.375... More