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NTAP

NetApp

$62.43

-0.06 (-0.10%)

, DELL

Dell Technologies

$52.34

-0.73 (-1.38%)

05:26
07/08/19
07/08
05:26
07/08/19
05:26

NetApp downgraded to Sell from Neutral at Citi

Citi analyst Jim Suva downgraded NetApp (NTAP) to Sell from Neutral and lowered his price target for the shares to $55 from $67. The competitive landscape with Dell (DELL) against the slowing macro environment adds more pressure to the company, Suva tells investors in a research note. The analyst says he's picked up recent competitive pressures against NetApp by Dell, Hewlett-Packard Enterprise (HPE), Pure Storage (PSTG) and Nutanix (NTNX). As a result, Suva expects share and margin pressures for NetApp.

NTAP

NetApp

$62.43

-0.06 (-0.10%)

DELL

Dell Technologies

$52.34

-0.73 (-1.38%)

HPE

HP Enterprise

$15.18

0.03 (0.20%)

PSTG

Pure Storage

$15.33

-0.3 (-1.92%)

NTNX

Nutanix

$26.37

-0.75 (-2.77%)

  • 09

    Jul

  • 09

    Jul

  • 09

    Jul

NTAP NetApp
$62.43

-0.06 (-0.10%)

06/06/19
EVER
06/06/19
INITIATION
Target $65
EVER
In Line
NetApp's positives offset by macro issues, competition, says Evercore ISI
Evercore ISI analyst Amit Daryanani started NetApp (NTAP) with an In Line rating and $65 price target, reflecting a balance between positive and negative dynamics. In a research note to investors, Daryanani says NetApp's cloud data services provides a unique, sticky, recurring revenue potential with fiscal 2021 exit at $600M ARR, but offsetting the positives are macro issues that slow down the pace of revenue growth especially in the new verticals, as well as competition as Dell (DELL) becomes a more stable and viable competitor.
06/06/19
PIPR
06/06/19
NO CHANGE
PIPR
Piper updates top picks across Security, Storage and Networking
Piper Jaffray analyst Andrew Nowinski updated his top picks across the Security, Storage and Networking sectors. The analyst's top picks in Security are Proofpoint (PFPT), SailPoint (SAIL) and Zscaler (ZS). His top picks in Storage are Pure Storage (PSTG) and NetApp (NTAP). And his top picks in Networking are Akamai (AKAM) and Arista Networks (ANET).
06/05/19
EVER
06/05/19
INITIATION
Target $65
EVER
In Line
NetApp initiated with an In Line at Evercore ISI
Evercore ISI started NetApp with an In Line rating and $65 price target.
05/23/19
05/23/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Qualcomm (QCOM) downgraded to Neutral from Buy at Mizuho with analyst Vijay Rakesh saying he is moving to the sidelines given the "uncertainty" with Judge Koh's Federal Trade Commission ruling on Qualcomm. 2. Chipotle (CMG) and Bloomin' Brands (BLMN) downgraded to Underperform from Market Perform at BMO Capital. 3. Sasol (SSL) downgraded to Neutral from Buy at Citi and to Neutral from Overweight at JPMorgan. 4. Expedia (EXPE) downgraded to Neutral from Buy at Citi with analyst Mark May saying Vrbo's growth has "disappointed and slowed meaningfully," and this could weight on Expedia's overall growth. 5. NetApp (NTAP) downgraded to Buy from Conviction Buy at Goldman Sachs and to Hold from Buy at Lake Street. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
DELL Dell Technologies
$52.34

-0.73 (-1.38%)

06/06/19
EVER
06/06/19
INITIATION
Target $75
EVER
Outperform
Dell Technologies has $10+ EPS potential longer term, says Evercore ISI
Evercore ISI analyst Amit Daryanani started Dell Technologies (DELL) with an Outperform rating and $75 price target. In a research note to investors, Daryanani cited the company's comprehensive enterprise IT portfolio spanning from personal systems and data center solutions to cloud and infrastructure virtualization software through the company's ~80% ownership stake in VMWare (VMW) in addition to the stock's attractive valuation for the Outperform rating. While there is some level of investor concern surrounding the overall IT spend backdrop following a robust year of technology investments in calendar year 2018 and a "conglomerate discount," he thinks a mix of share gains in each of Dell's core markets, self-help levers., commodity tailwinds, and operational improvements will more than offset potential overhang from these trepidations. Longer term, the analyst sees $10+ EPS potential, which in an upside scenario, drives Dell stock higher toward the $75+ level.
06/05/19
EVER
06/05/19
INITIATION
Target $75
EVER
Outperform
Dell Technologies initiated with an Outperform at Evercore ISI
Evercore ISI analyst Amit Daryanani started Dell Technologies with an Outperform rating and $75 price target.
06/19/19
DBAB
06/19/19
INITIATION
Target $62
DBAB
Buy
Dell Technologies initiated with a Buy at Deutsche Bank
Deutsche Bank started Dell Technologies with a Buy rating and $62 price target.
06/20/19
DBAB
06/20/19
INITIATION
Target $62
DBAB
Buy
Deutsche Bank starts Dell Technologies with Buy rating, $62 price target
Deutsche Bank analyst Jeriel Ong last night initiated coverage of Dell Technologies with a Buy rating and $62 price target. IT infrastructure spend is likely to slow through 2019, but this fear is priced in given the stock's ~25% pullback off 2019 highs, Ong tells investors in a research note. The analyst sees a long-term model that implies $11 in earnings per share by 2022.
HPE HP Enterprise
$15.18

0.03 (0.20%)

06/05/19
EVER
06/05/19
INITIATION
Target $14
EVER
Underperform
HP Enterprise initiated with an Underperform at Evercore ISI
Evercore ISI started HP Enterprise with an Underperform rating and $14 price target.
06/06/19
EVER
06/06/19
INITIATION
Target $14
EVER
Underperform
HP Enterprise initiated with an Underperform at Evercore ISI
Evercore ISI analyst Amit Daryanani started HP Enterprise (HPE) with an Underperform rating and $14 price target, reflecting moderated growth momentum within the company's core product markets, declines in the company's networking and services businesses, and share losses to Dell (DELL). In a research note to investors, Daryanani says his slightly bearish near-term view on HP Enterprise is attributable to an incrementally more negative macro outlook, combined with share losses and the lack of a near-term catalyst for the stock.
05/24/19
NOMU
05/24/19
NO CHANGE
Target $17
NOMU
Neutral
HP Enterprise price target lowered to $17 from $20 at Nomura Instinet
Nomura Instinet analyst Jeffrey Kvaal lowered his price target for HP Enterprise to $17 from $20 following last night's fiscal Q2 results. A "weakening spending picture" that revealed some gaps in sales coverage has pushed a return to sales growth into fiscal 2020, Kvaal tells investors in a post-earnings research note. However, rising gross margins insulate HP's earnings and boost free cash flow, adds the analyst. He keeps a Neutral rating on the shares.
06/21/19
LBOW
06/21/19
INITIATION
LBOW
Neutral
HP Enterprise initiated with a Neutral at Longbow
Longbow started HP Enterprise with a Neutral rating saying the company's Hardware mix remains unfavorable while its transformation to a software-as-a-service model will take time.
PSTG Pure Storage
$15.33

-0.3 (-1.92%)

05/22/19
LSCM
05/22/19
NO CHANGE
Target $22
LSCM
Buy
Pure Storage remains a good growth story, says Lake Street
Lake Street analyst Eric Martinuzzi lowered his price target for Pure Storage to $22 from $26 saying large enterprise deal slippage drove the miss in Q1. Despite the Q1 "stumble," Pure Storage is a share gainer in enterprise storage and remains a good growth story, Martinuzzi tells investors in a research note. He keeps a Buy rating on the shares.
06/18/19
COWN
06/18/19
NO CHANGE
Target $28
COWN
Outperform
Pure Storage revenue growth remains in top quintile for IT hardware, says Cowen
Cowen analyst Karl Ackerman said Pure Storage remains in the top quintile of revenue growth for IT hardware and he expects the company to double revenues and nearly quadruple earnings from 2018 to 2021. He sees its portfolio transforming toward a higher-margin, software-centric model as the company remains unencumbered by legacy hard-disk drive technology. Ackerman reiterated his Outperform rating and $28 price target on Pure Storage shares.
06/06/19
EVER
06/06/19
INITIATION
Target $18
EVER
In Line
Pure Storage started with an In Line at Evercore ISI
Evercore ISI transferred coverage of Pure Storage to Kirk Materne, who started shares an In Line rating and $18 price target, saying he thinks Pure Storage is well positioned as an all-flash storage vendor, with unique advantage in key product categories, but says "none of this may matter" in the event of an IT slowdown given limited profitability.
NTNX Nutanix
$26.37

-0.75 (-2.77%)

05/31/19
BTIG
05/31/19
NO CHANGE
Target $40
BTIG
Buy
Nutanix price target lowered to $40 from $50 at BTIG
BTIG analyst Edward Parker lowered his price target on Nutanix to $40 after its Q3 results, saying the "growing pains" were again visible in the quarter after an "exceptionally poor outlook" provided by the management following Q2. The analyst attributes the underperformance to the headwinds related to the company's accelerated transition to subscription-based revenues and says the results were "disappointing" relative to its prior messaging and channel checks. Parker keeps his Buy rating on the stock however, saying Nutanix has a "strong positioning in a two-horse race" within a hot market.
05/31/19
NEED
05/31/19
NO CHANGE
Target $46
NEED
Buy
Nutanix price target lowered to $46 from $63 at Needham
Needham analyst Jack Andrews lowered his price target on Nutanix to $46 after its "mixed" Q3 results saw a beat on earnings and gross margins and a miss on revenue and billings. The analyst notes that the accelerated shift to term-based licenses "accentuated the compression of billings and revenue" as up-front recognition of revenues was reduced, even though he sees the impact of the transition as "incremental" in terms of the company's "lead generation, go-to-market of new products, and changes to the sales organization." Based on his view of continued robust demand for Nutanix's HCI and cloud-based services, Andrews keeps his Buy rating.
05/31/19
WBLR
05/31/19
NO CHANGE
WBLR
Outperform
Nutanix shares 'fairly washed out' amid selloff, says William Blair
Following another "disappointing" quarter, Nutanix (NTNX) management pushed out the prospect of a full recovery with Q4 revenue, billings, and earnings guided well below consensus, William Blair analyst Jason Ader tells investors in a research note. The analyst attributes the weakness to weak sales execution, a faster than expected transition to a subscription business model, and increased competition from main rival Dell Technologies (DELL) / VMware (VMW). Ader, however, believes Nutanix shares are "fairly washed out at this point." As such, he sees a favorable risk/reward equation and keeps an Outperform rating on Nutanix.
05/31/19
05/31/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mallinckrodt (MNK) downgraded to Neutral from Overweight at Piper Jaffray with analyst David Amsellem stating last week's developments regarding Acthar in the Medicaid setting, along with as much as a $600M Centers for Medicare & Medicaid Services-related liability, "essentially blew" his prior investment thesis to "smithereens." 2. Nucor (NUE) downgraded to Underperform from Buy at BofA/Merrill with analyst Timna Tanners incorporating a lower near-term forecast for prices, especially for sheet and rebar, and a lower 2021-2022 forecast given expectations for a looming glut in steel. 3. J.Jill (JILL) downgraded to Hold from Buy at Deutsche Bank with analyst Lorraine Hutchinson stating that she expects the stock's multiple to contract due to the company's slower growth. 4. Nutanix (NTNX) downgraded to Neutral from Overweight at Piper Jaffray with analyst Andrew Nowinski citing the company's "continued execution issues," which he attributes partially to increasing competition. 5. Zuora (ZUO) downgraded to Buy from Strong Buy at Needham with analyst Scott Berg saying that the stock could be "dead money" for the next 1-2 quarters, noting that the sales issues are more concerning than the product issues and may require a change in sales leadership. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

GRUB

GrubHub

$74.90

0.17 (0.23%)

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IBKC

Iberiabank

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0.8 (1.07%)

07:04
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CLF

Cleveland-Cliffs

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-0.11 (-1.00%)

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SLB

Schlumberger

$38.78

0.15 (0.39%)

07:04
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HALO

Halozyme

$16.79

0.03 (0.18%)

, JNJ

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0.21 (0.16%)

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$16.79

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JNJ

Johnson & Johnson

$132.03

0.21 (0.16%)

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CLF

Cleveland-Cliffs

$10.88

-0.11 (-1.00%)

07:02
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Earnings
Cleveland-Cliffs reports Q2 EPS 57c, consensus 52c »

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  • 19

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KBR

KBR

$25.28

0.36 (1.44%)

07:01
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  • 06

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ROK

Rockwell Automation

$159.17

-0.78 (-0.49%)

07:00
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  • 25

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SXT

Sensient

$70.77

-0.48 (-0.67%)

07:00
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Earnings
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  • 19

    Jul

MSFT

Microsoft

$136.29

0.06 (0.04%)

06:58
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  • 03

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BLK

BlackRock

$474.98

4.06 (0.86%)

06:58
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BlackRock CEO: Trend in China continues to be downward »

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MSFT

Microsoft

$136.29

0.06 (0.04%)

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CNK

Cinemark

$36.46

-1.31 (-3.47%)

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SXT

Sensient

$70.77

-0.48 (-0.67%)

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EYE

National Vision

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CRWD

Crowdstrike

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RDFN

Redfin

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LYB

LyondellBasell

$85.70

-0.03 (-0.03%)

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Z

Zillow

$48.20

0.08 (0.17%)

06:51
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  • 07

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MSFT

Microsoft

$136.29

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BLK

BlackRock

$474.98

4.06 (0.86%)

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ATHM

Autohome

$82.03

-0.91 (-1.10%)

06:48
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SLB

Schlumberger

$38.78

0.15 (0.39%)

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