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NTAP

NetApp

$60.64

1.9 (3.23%)

07:59
02/15/18
02/15
07:59
02/15/18
07:59

Technical Take: NetApp falls sharply after earnings and outlook

The company reported earnings and gave guidance after the bell yesterday. The extended-session reaction was negative and shares remain down in the pre-market, over 9.4% to $54.90, at time of writing. At current price next support is at $53.75. Resistance is at $55.80.

  • 26

    Feb

  • 26

    Feb

NTAP NetApp
$60.64

1.9 (3.23%)

02/13/18
02/13/18
UPGRADE
Target $74

Buy
NetApp upgraded to Buy on All-Flash strength at BofA/Merrill
As previously reported, BofA/Merrill upgraded NetApp to Buy from Neutral and raised its price target to $74 from $63. Analyst Wamsi Mohan expects strong topline growth for the company driven by All-Flash-Arrays, or AFA, strength and conversion, Mature revenue stabilization, and Cloud data fabric incremental growth. Mohan's VAR survey suggests strong adoption for AFA and notes NetApp's AFA sales have grown at an "incredible" rate and expects them to continue to outgrow the market in 2018.
02/13/18
MAXM
02/13/18
NO CHANGE
Target $69
MAXM
Buy
NetApp price target raised to $69 from $61 at Maxim
Maxim analyst Nehal Chokshi raised his price target on NetApp to $69, saying his findings suggest that the company's momentum can be attributed to the "uniqueness and effectiveness of hybrid cloud data management capability that is not being replicated" rather than mis-execution at Dell. Chokshi keeps his Buy rating on NetApp ahead of tomorrow's earnings.
02/15/18
DADA
02/15/18
NO CHANGE
Target $66
DADA
Neutral
NetApp gross margins showing resilience, says DA Davidson
DA Davidson analyst Mark Kelleher raised his price target on NetApp to $66 from $64 following Q3 earnings, saying that despite the pressure from memory and storage component shortages, gross margins remained robust thanks to less discounting and the ability to pass component pricing to customers. Longer-term, Kelleher notes that the company has a rejuvenated product line, a strong cash flow, and has also been successful in realigning its business into the Flash storage market. The analyst keeps his Neutral rating, adding that NetApp's positive prospects are reflected in valuation.
02/15/18
LOOP
02/15/18
NO CHANGE
Target $69
LOOP
Buy
Recommend accumulating NetApp on weakness, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $69 price target on NetApp after the company's latest results, but says he would be a "strong accumulator" of the stock on weakness. The analyst notes that the earnings and the guidance for next quarter add to his confidence and suggest that a material expansion remains ahead, given that the Q4 outlook is likely conservative based on the implied Strategic revenue view and accelerating adoption momentum.

TODAY'S FREE FLY STORIES

LHCG

LHC Group

$102.10

-2.68 (-2.56%)

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RDS.A

Royal Dutch Shell

$59.30

0.13 (0.22%)

, RDS.B

Royal Dutch Shell

$60.72

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BP

BP

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Exxon Mobil

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HA

Hawaiian Holdings

$30.60

-2.57 (-7.75%)

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  • 11

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LEE

Lee Enterprises

$2.19

0.01 (0.46%)

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  • 14

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SLDB

Solid Biosciences

$25.66

-2.95 (-10.31%)

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TVPT

Travelport

$15.40

-0.32 (-2.04%)

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ENS

EnerSys

$79.21

-1.8 (-2.22%)

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ATEN

A10 Networks

$6.06

-0.08 (-1.30%)

06:32
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Upgrade
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WBC

Wabco

$108.11

-3.51 (-3.14%)

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  • 13

    Dec

JELD

Jeld-Wen

$16.85

-0.61 (-3.49%)

06:29
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Downgrade
Jeld-Wen rating change  »

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TVPT

Travelport

$15.40

-0.32 (-2.04%)

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KEY

KeyCorp

$16.73

-0.37 (-2.16%)

, RF

Regions Financial

$14.90

-0.4 (-2.61%)

06:28
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06:28
Downgrade
KeyCorp, Regions Financial rating change  »

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KEY

KeyCorp

$16.73

-0.37 (-2.16%)

RF

Regions Financial

$14.90

-0.4 (-2.61%)

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  • 17

    Jan

JD

JD.com

$20.93

-0.31 (-1.46%)

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AMZN

Amazon.com

$1,629.19

-71.31 (-4.19%)

06:26
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Amazon dismisses workers in U.S., India over data leak, WSJ reports »

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RF

Regions Financial

$14.90

-0.4 (-2.61%)

06:26
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Regions Financial rating change  »

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VC

Visteon

$67.58

-4.1 (-5.72%)

, F

Ford

$8.82

-0.205 (-2.27%)

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F

Ford

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FBHS

Fortune Brands

$42.60

0.07 (0.16%)

06:23
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Fortune Brands rating change  »

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FB

Facebook

$137.42

-2.14 (-1.53%)

06:22
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WAAS

AquaVenture

$18.09

0.26 (1.46%)

06:21
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  • 10

    Dec

WRK

WestRock

$45.33

-0.875 (-1.89%)

06:20
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06:20
Downgrade
WestRock rating change  »

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TBIO

Translate Bio

$8.61

0.21 (2.50%)

06:20
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Conference/Events
Translate Bio management to meet with Leerink »

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  • 10

    Dec

NSANY

Nissan

$0.00

(0.00%)

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  • 07

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STMP

Stamps.com

$171.76

-4.78 (-2.71%)

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  • 10

    Dec

SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$263.68

-5.98 (-2.22%)

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$0.00

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SPDR S&P 500 ETF Trust

$263.68

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KEY

KeyCorp

$16.73

-0.37 (-2.16%)

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  • 17

    Jan

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