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Fly News Breaks for May 23, 2019
NTAP
May 23, 2019 | 08:51 EDT
Loop Capital analyst Ananda Baruah lowered his price target on NetApp to $78 after its Q4 earnings miss that was driven by "misexecution", namely inconsistency in its go-to-market efforts, longer enterprise deal closures, and challenges with renewals. The analyst also keeps his Buy rating on the shares, saying NetApp remains a "structural 5%-10% organic revenue grower" and its execution shortcomings in the April quarter are already being addressed with investment and leadership changes.
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