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NTAP

NetApp

$79.23

0.33 (0.42%)

, PSTG

Pure Storage

$19.25

-0.16 (-0.82%)

12:47
11/14/18
11/14
12:47
11/14/18
12:47

Fly Intel: What to watch for in NetApp's earnings report

NetApp (NTAP) is scheduled to report results of its fiscal second quarter after the market close on Wednesday, November 14, with a conference call scheduled for 5:30 pm ET. What to watch for: 1. EPS CONSENSUS UP A TICK: Along with its last report, NetApp guided for Q2 adjusted earnings per share in the range of 94c-$1.00 on revenue of $1.45B-$1.55B. At the time, analysts were expecting the company to report Q2 EPS of 97c on revenue of $1.51B. The current Q2 EPS consensus estimate has risen to 99c while the $1.51B revenue estimate remains the same. 2. STACKPOINTCLOUD ACQUISITION: On September 18, NetApp announced that it acquired StackPointCloud, a player in multi-cloud Kubernetes as-a-service and a contributor to the Kubernetes project. NetApp said at the time that the acquisition gives it an advanced Kubernetes-as-a-service platform that directly supports the application orchestration capabilities of NetApp's Data Fabric. A little over two weeks after the news, Loop Capital analyst Ananda Baruah maintained his Buy rating and $98 price target on NetApp, saying the acquisition of Stackpoint offers "robustness" and cost efficiency. 3. LOOP POSITIVE ON NETAPP: Loop Capital's Baruah maintained his Buy rating and $98 price target on NetApp in late October, saying that he was still as "enthusiastic" about his bullish thesis, with an added belief that the company could offer "even more muscle than we realize." Baruah added at the time that the market may have been underappreciating NetApp's "full force" of services offerings. Today, Baruah once again maintained his rating and price target, saying that NetApp is positioned to be a leading beneficiary in storage adoption. 4. STIFEL SEES CONTINUED MOMENTUM: Stifel analyst Matthew Sheerin said today that his checks with storage-focused value-added-resellers pointed to continued strong external storage sales momentum in the September quarter, adding that he is expecting relatively strong results for NetApp and Pure Storage (PSTG), which he believes are both market share gainers. Sheerin added that he continues to favor NetApp and maintained a Buy rating on the stock.

NTAP

NetApp

$79.23

0.33 (0.42%)

PSTG

Pure Storage

$19.25

-0.16 (-0.82%)

  • 14

    Nov

  • 19

    Nov

  • 26

    Nov

NTAP NetApp
$79.23

0.33 (0.42%)

10/23/18
SUSQ
10/23/18
NO CHANGE
SUSQ
Susquehanna downgrades Enterprise Hardware sector on cloud downturn
Susquehanna analyst Mehdi Hosseini downgraded his sector view for Enterprise Hardware, stating that top executives at Cloud service providers and Enterprise customers appear to have become more cautious about 2019 spending plans and the "digestion period" he has been anticipating by YE18 and into 1H19 appears to have evolved into a more worrisome "downturn." In the sector, as previously reported, Hosseini downgraded NetApp (NTAP) to Neutral from Positive, stating that it is unclear how sizable HCI and Cloud will be to NetApp in the near-term, while the core business enters a period of tough comparisons. He is also maintaining his Negative rating on Nutanix (NTNX) and Neutral ratings on HP Enterprise (HPE) and Pure Storage (PSTG).
10/24/18
LOOP
10/24/18
NO CHANGE
Target $98
LOOP
Buy
Market undervalues NetApp services offerings, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $98 price target on NetApp after attending its Insight User Conference. The analyst says he remains "as enthusiastic" about his bullish thesis, with an added belief that the company could offer "even more muscle than we realize". Baruah further contends that the market may be underappreciating NetApp's "full force" of services offerings being cultivated for the "Cloud world" as its portfolio of Public Cloud software is "robust and holds great long-term promise".
11/14/18
LOOP
11/14/18
NO CHANGE
Target $98
LOOP
Buy
NetApp positioned as leading beneficiary in storage adoption, says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $98 price target on NetApp (NTAP) after holding a call to discuss storage adoption trends with an official at Affiliated Computer Services consultancy who oversees the design, sale and integration of IT solutions with enterprise customers. The analyst notes that the consultant highlighted NetApp's near and intermediate term positioning in All Flash Array technology, adding that the company is "able to use its market leadership credibility and its portfolio strength to maintain market leadership" after two years of success. Baruah further cites the consultant's expectation of All Flash Array build-out lasting "another 2-3 years before reaching 'normalized' adopted levels."
11/14/18
STFL
11/14/18
NO CHANGE
STFL
Checks point to continued momentum at NetApp, Pure Storage, says Stifel
Stifel analyst Matthew Sheerin said his checks with storage-focused value-added-resellers pointed to continued strong external storage sales momentum in the September quarter, adding that he is expecting relatively strong results for NetApp (NTAP) and Pure Storage (PSTG), which he believes are both market share gainers. Though positively biased on fundamentals for both stocks, he continues to favor NetApp, Sheerin tells investors. He maintains a Buy rating on NetApp and a Hold rating on Pure Storage.
PSTG Pure Storage
$19.25

-0.16 (-0.82%)

10/15/18
JMPS
10/15/18
NO CHANGE
Target $26
JMPS
Outperform
Pure Storage pullback a buying opportunity, says JMP Securities
JMP Securities analyst Erik Suppiger said his recent meetings with Pure Storage management reaffirmed his confidence in the company's fundamentals, stating that the competitive landscape is growing "marginally more favorable" given the challenges at Dell EMC and if the recent decline in NAND flash memory pricing should continue it may enable the company to compete in a broader portion of the hard disk drive market. The analyst, who views a 21% pullback from its highs of 30 days ago as a buying opportunity, keeps an Outperform rating and $26 price target on Pure Storage.
10/17/18
GSCO
10/17/18
UPGRADE
Target $23
GSCO
Neutral
Pure Storage upgraded to Neutral from Sell at Goldman Sachs
Goldman Sachs analyst Rod Hall upgraded Pure Storage (PSTG) to Neutral and raised his price target for the shares to $23 from $18. The analyst this morning also upgraded NetApp (NTAP) to Conviction Buy from Neutral. Hall, who believes Pure Storage has been losing share in the all-flash array market, thinks the company is positioned to benefit from an improving storage market.

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Achaogen

$0.00

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IYT

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