NetApp Reports Second Quarter Fiscal Year 2017 Results

UBS Raises Price Target on NetApp (NTAP) to $32; Reiterates Sell

November 17, 2016 9:54 AM EST

UBS reiterated a Sell rating on NetApp (NASDAQ: NTAP), and raised the price target to $32.00 (from $30.00), following the company's 2Q earnings report. NTAP reported product revenue of $710mn, below consensus of $722mn.

Analyst Steven Milunovich commented, "Product revenue of $710mn was... More

Jefferies Raises Price Target on NetApp (NTAP) to $38 Following 2Q and Guidance

November 17, 2016 9:05 AM EST

Jefferies reiterated a Hold rating on NetApp (NASDAQ: NTAP), and raised the price target to $38.00 (from $34.00), following the company's 2Q earnings report. NTAP reported revenue of $1.34B, a touch below Street's $1.35B. EPS totaled $0.60, beating the Street's $0.54 due to lower than expected opex.... More

Baird Raises Price Target on NetApp (NTAP) to $40; Reiterates Neutral

November 17, 2016 7:33 AM EST

Baird reiterated a Neutral rating on NetApp (NASDAQ: NTAP), and raised the price target to $40.00 (from $37.00), following the company's 2Q earnings report. NetApp posted revenue/non-GAAP EPS of approximately $1.34 billion/$0.60 compared to consensus of $1.36 billion/$0.60. Management guided 3Q revenue/non-GAAP EPS to $1.325-$1.475... More

BMO Capital Raises Price Target on NetApp (NTAP) to $39 Following 2Q Report

November 17, 2016 7:16 AM EST

BMO Capital reiterated a Market Perform rating on NetApp (NASDAQ: NTAP), and raised the price target to $39.00 (from $31.00), following the company's 2Q earnings report. NTAP delivered revenue of $1,340 million roughly in line with consensus estimates of $1,354M. EPS of $0.60 topped consensus of $0.54. NTAP... More

Drexel Hamilton Upgrades NetApp (NTAP) to Buy

November 17, 2016 7:16 AM EST

Drexel Hamilton upgraded NetApp (NASDAQ: NTAP) from Hold to Buy with a price target of $52.00.

Analyst Brian J. White highlighted:

Last night, NetApp delivered a solid 2Q:FY17 performance and offered up a strong 3Q:FY17 outlook as the company is benefiting from its transition initiatives. As such, we are increasing our estimates and upgrading our rating to BUY from HOLD with a $52.00 price target.As NetApp continues to demonstrate progress in its transition that includes more flash, more cloud and improved execution around... More

Needham & Company Remains Sidelined on NetApp (NTAP) Following Solid 2Q

November 17, 2016 6:59 AM EST

Needham & Company reiterated a Hold rating on NetApp (NASDAQ: NTAP) following the company's 2Q earnings report. NTAP reported revenues of $1.34B compared to the street's estimates of $1.35B. Guidance was $1.265-1.415B. EPS was reported at $0.60, ahead of the consensus of $0.54, and guidance of... More

NetApp (NTAP) Posts Q2 adj.-EPS of 60c; Issues Strong Q3 Outlook

November 16, 2016 4:02 PM EST

(Updated - November 16, 2016 4:08 PM EST)

NetApp (NASDAQ: NTAP) reported Q2 EPS of $0.60, versus the analyst estimate of $0.54. Revenue for the quarter came in at $1.34 billion versus the consensus estimate of $1.36 billion.

NetApp ended the second quarter of fiscal year 2017 with $4.4 billion in... More