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NTAP

NetApp

$68.02

0.89 (1.33%)

, PSTG

Pure Storage

$19.25

-0.12 (-0.62%)

13:17
02/13/19
02/13
13:17
02/13/19
13:17

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

NetApp (NTAP) is scheduled to report results of its fiscal third quarter after the market close on Wednesday, February 13, with a conference call scheduled for 5:30 pm ET. What to watch for: 1. Q3 EPS CONSENSUS UP A TICK: Along with its last report, NetApp guided for Q3 adjusted earnings per share in the range of $1.12-$1.18 on revenue of $1.55B-$1.65B. At the time, analysts were guided for Q3 EPS of $1.12, but that figure has since risen to $1.15. The Wall Street consensus estimate for Q3 revenue remains unchanged at $1.6B. 2. MORGAN STANLEY IT HARDWARE INDUSTRY NOTE: Last month, Morgan Stanley analyst Kathryn Huberty downgraded her IT hardware industry view to In-Line from Attractive, saying that hardware spending plans fell more than any other technology category across U.S. and European CIOs in the firm's recent checks. Slowing growth, which the analyst attributed to waning cyclical benefits, make it harder to own hardware-heavy data center stocks in the near term, Huberty told investors in a research note. At the time, the analyst downgraded NetApp to Underweight from Equal Weight and cut her price target on the shares to $58 from $72, citing her view that revenue growth will likely slow materially on more difficult compares in the coming quarters. 3. PIPER STORAGE SURVEY: Earlier this week, Piper Jaffray analyst Andrew Nowinski released a research note saying the firm had conducted its fiscal fourth quarter Storage Reseller Survey by collecting feedback from 28 resellers and distributors. The analyst said that while only five of 14 vendors had net positive versus six of the 14 last quarter, the firm saw "strong results" for Pure Storage (PSTG), Rubrik, Nutanix (NTNX), Veeam, and NetApp. Nowinski noted that Pure Storage also had the strongest pipeline heading into the April quarter, adding that the company's results sharply improved in the survey, with 67% of resellers citing "Above Plan" results, the highest level seen in three years.

NTAP

NetApp

$68.02

0.89 (1.33%)

PSTG

Pure Storage

$19.25

-0.12 (-0.62%)

NTNX

Nutanix

$54.13

-0.01 (-0.02%)

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NTAP NetApp
$68.02

0.89 (1.33%)

02/08/19
OTRG
02/08/19
DOWNGRADE
OTRG
Mixed
NetApp downgraded to Mixed from Positive at OTR Global
01/16/19
01/16/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Citi (C) downgraded to Hold from Buy at Standpoint Research. 2. Snap (SNAP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Mark Mahaney citing the company's recent "mixed" pre-announcement and, more importantly, its latest disclosure of a "surprise" exit by its CFO Tim Stone who was on the job for less than a year. 3. Nordstrom (JWN) downgraded to Neutral from Conviction Buy at Goldman Sachs, to Neutral from Overweight at Atlantic Equities, and to Market Perform from Outperform at Telsey Advisory. 4. AB InBev (BUD) downgraded to Underperform from Hold at Jefferies with analyst Edward Mundy saying market share pressures, some of which have only recently become visible, will likely persist, and could lead to disappointment against high expectations of an emerging-led recovery. 5. HP Enterprise (HPE) downgraded to Equal Weight from Overweight at Morgan Stanley, while NetApp (NTAP) was downgraded to Underweight from Equal Weight. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/16/19
01/16/19
NO CHANGE

Morgan Stanley downgrades IT Hardware industry view, shakes up ratings
Morgan Stanley analyst Kathryn Huberty downgraded her IT Hardware industry view to In-Line from Attractive, noting that hardware spending plans downticked more than any other technology category and across U.S. and European CIOs in the firm's recent checks. Slowing growth, which she attributes to waning cyclical benefits, makes it more difficult to own hardware-heavy data center stocks in the near-term, Huberty tells investors. As previously reported, Huberty downgraded HP Enterprise (HPE) to Equal Weight from Overweight and lowered her price target to $15 from $21, telling investors she thinks it's prudent to take a more cautious near-term stance given that 57% of its revenue comes from Servers and Storage. Huberty also downgraded NetApp (NTAP) to Underweight from Equal Weight and lowered her price target to $58 from $72, citing her view that revenue growth is likely to slow materially on more difficult compares in the coming quarters. Stating that she has a preference for hardware stocks with a higher software mix, Huberty upgraded Nutanix (NTNX) to Overweight and raised her price target to $58 from $57. Nutanix is gaining momentum as a hybrid cloud operating system provider as it adds cloud services, she tells investors. Huberty also upgraded Teradata (TDC) to Overweight from Equal Weight and raised her price target to $55 from $42. Teradata's relevance to large enterprise IT spending is on the rise with Data Warehousing and analytics rising to a top three priority in 2019, she stated.
02/11/19
PIPR
02/11/19
NO CHANGE
PIPR
Piper storage survey positive for Pure Storage, Nutanix, NetApp
Piper Jaffray conducted its fiscal Q4 Storage Reseller Survey by collecting feedback from 28 resellers and distributors. While only five of 14 vendors had net positive results versus six of the 14 last quarter, the firm saw "strong results" for Pure Storage (PSTG), Rubrik, Nutanix (NTNX), Veeam and NetApp (NTAP), analyst Andrew Nowinski told investors earlier in a research note. Pure Storage also had the strongest pipeline heading into the April quarter, added the analyst. The company's results sharply improved in the survey, with 67% of resellers citing "Above Plan" results, the highest level seen in three years, says Nowinski. The stock in early trading is up 19c to $18.47. Of those surveyed by Piper, 36% of resellers said they saw a negative impact from the U.S. government shutdown, with Dell (DELL), HP/3PAR (HPQ) and IBM (IMB) the most impacted.
PSTG Pure Storage
$19.25

-0.12 (-0.62%)

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.
11/20/18
PIPR
11/20/18
NO CHANGE
Target $25
PIPR
Overweight
Pure Storage price target lowered to $25 from $28 at Piper Jaffray
Piper Jaffray analyst Andrew Nowinski lowered his price target for Pure Storage to $25 on concerns that Street estimates for fiscal 2020 "could prove to be too aggressive." The analyst, however, views the company's Q3 results as "solid" and reiterates an Overweight rating on the shares. He attributes the 6% post-earnings share rally to the new cloud data services. These software services will run in Amazon Web Services and now enable the company to support a hybrid environment, Nowinski tells investors in a post-earnings research note. He calls this is a "game-changer" for Pure Storage, saying it makes the company more software-centric and provides "more valuation support."
12/11/18
WOLF
12/11/18
INITIATION
Target $25
WOLF
Outperform
Pure Storage initiated with an Outperform at Wolfe Research
Wolfe Research analyst Steven Milunovich initiated Pure Storage with an Outperform rating and $25 price target, noting his view that "tech has a bias toward the new."
NTNX Nutanix
$54.13

-0.01 (-0.02%)

01/16/19
01/16/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. MetLife (MET) upgraded to Buy from Neutral at BofA/Merrill with analyst Jay Cohen saying quality concerns are diminishing as management addresses past issues and believes the business mix has notably changed for the positive following the Brighthouse spin. 2. ING Group (ING) upgraded to Buy from Hold at Societe Generale. 3. Williams (WMB) upgraded to Overweight from Equal Weight at Barclays analyst Christine Cho saying the company is now positioned to reduce leverage at an accelerated pace and internally fund incremental growth projects and/or return capital to shareholders in a more meaningful way. 4. Accenture (ACN) upgraded to Buy from Neutral at Citi with analyst Ashwin Shirvaikar saying against a backdrop of rising political and policy risks, a more defensive Information Technology Services stance is appropriate. 5. Nutanix (NTNX) and Teradata (TDC) were upgraded to Overweight from Equal Weight at Morgan Stanley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/06/19
NEED
02/06/19
NO CHANGE
Target $76
NEED
Buy
Nutanix's Frame may become segue for managing more SaaS solutions, says Needham
Needham analyst Jack Andrews kept his Buy rating and $76 price target on Nutanix after attending its presentation on the company's SaaS Frame solution. The analyst notes that its virtual desktop infrastructure offering in a single-click environment could lead customers "to purchase additional SaaS-based solutions on top of their core HCI infrastructure". Andrews further contends that Nutanix's one-click experience could be pivotal for managing these hybrid workloads, adding that early pipeline indications also suggest that 50% of the current Frame customers are new to the company.
01/17/19
WBLR
01/17/19
NO CHANGE
WBLR
Outperform
Nutanix checks show 'strong' billings this quarter, says William Blair
William Blair analyst Jason Ader says recent channel checks suggest a "strong" billings performance in Nutanix's fiscal Q2, which ends in January, after "somewhat disappointing" reported billings in Q1. Nutanix is seeing a continued strong demand environment for the hyper-converged infrastructure category from both new and existing customers as well as increasing deal sizes, Ader tells investors in a research note. He believes the company has "best-of-breed product positioning" and keeps an Outperform rating on the name. Further, Nutanix is a "highly strategic asset" with the potential for takeout interest from larger players that desire a best-of-breed private cloud/HCI platform, says Ader.

TODAY'S FREE FLY STORIES

ETFC

E-Trade

$48.89

0.65 (1.35%)

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CAT

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TM

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VLKAY

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NYT

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LUV

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VZ

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TMUS

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T

AT&T

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NOK

Nokia

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ERIC

Ericsson

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AIMT

Aimmune

$23.70

0.73 (3.18%)

, AZN

AstraZeneca

$40.95

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AZN

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TEVA

Teva

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0.03 (0.17%)

NVS

Novartis

$90.77

0.26 (0.29%)

DNA

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$0.00

(0.00%)

SHPG

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$0.00

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REGN

Regeneron

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3.77 (0.90%)

SNY

Sanofi

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ALK

Alaska Air

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ABT

Abbott

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1.26 (1.68%)

CVS

CVS Health

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KALV

KalVista

$20.74

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BCRX

BioCryst

$8.99

0.32 (3.69%)

OPTN

Optinose

$7.31

0.02 (0.27%)

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ETFC

E-Trade

$48.89

0.65 (1.35%)

04:55
02/23/19
02/23
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Conference/Events
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TEX

Terex

$35.29

-0.3 (-0.84%)

19:01
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Terex to sell Demag Mobile Cranes business to Tadano for $215M enterprise value »

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CZR

Caesars

$9.05

-0.37 (-3.93%)

18:34
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ERJ

Embraer

$20.85

0.17 (0.82%)

, BA

Boeing

$424.05

6.57 (1.57%)

18:11
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Periodicals
Brazilian judge suspends Embraer-Boeing deal talks, Reuters reports »

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ERJ

Embraer

$20.85

0.17 (0.82%)

BA

Boeing

$424.05

6.57 (1.57%)

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BXG

Bluegreen Vacations

$14.47

0.55 (3.95%)

18:02
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Earnings
Bluegreen Vacations reports Q4 EPS 27c, consensus 24c »

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SM

SM Energy

$16.88

-0.13 (-0.76%)

17:57
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SM Energy analyst commentary at MUFG »

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AN

AutoNation

$37.22

-1.15 (-3.00%)

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Breaking Syndicate news story on AutoNation »

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TSLA

Tesla

$294.60

3.42 (1.17%)

, NSANY

Nissan

$0.00

(0.00%)

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Tesla

$294.60

3.42 (1.17%)

NSANY

Nissan

$0.00

(0.00%)

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FSFG

First Savings Financial Group

$51.33

0.22 (0.43%)

17:31
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Hot Stocks
First Savings Financial raises quarterly dividend to 16c per share from 15c »

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MSFT

Microsoft

$110.97

1.5 (1.37%)

17:31
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Periodicals
Employees demand Microsoft cancel $480M U.S. Army contract, Reuters says »

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ENT

Global Eagle

$2.66

(0.00%)

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Global Eagle to cut workforce by roughly 15% »

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17:15
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General news
Breaking General news story  »

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NOC

Northrop Grumman

$288.84

2.54 (0.89%)

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LYB

LyondellBasell

$89.14

0.63 (0.71%)

17:07
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Breaking Syndicate news story on LyondellBasell »

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TCCO

Technical Comm Corp

$2.76

0.17 (6.56%)

17:06
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Hot Stocks
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INFU

InfuSystem

$4.15

0.04 (0.97%)

17:01
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KALU

Kaiser Aluminum

$108.22

-1.9 (-1.73%)

17:01
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Kaiser Aluminum names Neal West as new CFO »

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ALDR

Alder Biopharmaceuticals

$14.35

0.19 (1.34%)

17:00
02/22/19
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17:00
Hot Stocks
Alder Biopharmaceuticals submits eptinezumab BLA to FDA »

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RF

Regions Financial

$16.24

-0.01 (-0.06%)

16:59
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16:59
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Breaking Syndicate news story on Regions Financial »

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HL

Hecla Mining

$2.59

-0.145 (-5.31%)

16:58
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02/22
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16:58
Syndicate
Breaking Syndicate news story on Hecla Mining »

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BMY

Bristol-Myers

$50.99

0.84 (1.68%)

, CELG

Celgene

$89.15

0.54 (0.61%)

16:52
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16:52
Hot Stocks
Bristol-Myers files proxy statement in connection with proposed Celgene merger »

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BMY

Bristol-Myers

$50.99

0.84 (1.68%)

CELG

Celgene

$89.15

0.54 (0.61%)

03/08/13
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TEN

Tenneco

$36.29

0.76 (2.14%)

16:48
02/22/19
02/22
16:48
02/22/19
16:48
Earnings
Tenneco sees FY19 revenue growth up 4%-5%, consensus $4.65B »

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