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CSCO

Cisco

$46.96

0.73 (1.58%)

, NTAP

NetApp

$46.75

0.33 (0.71%)

07:50
08/17/19
08/17
07:50
08/17/19
07:50

Trade war hitting tech stocks, Barron's says

Cisco (CSCO) plunged 9% a day after it reported quarterly results as investors were disappointed with its weaker than expected sales outlook, with management saying China sales "dropped precipitously in light of the trade discussions," Tae Kim writes in this week's edition of Barron's. Cisco is not alone in calling out the risks, with NetApp (NTAP) also blaming a fading global economy for its worse than expected pre-announcement, the author notes. Reference Link

CSCO

Cisco

$46.96

0.73 (1.58%)

NTAP

NetApp

$46.75

0.33 (0.71%)

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CSCO Cisco
$46.96

0.73 (1.58%)

08/15/19
JEFF
08/15/19
NO CHANGE
Target $54
JEFF
Buy
Invstors overestimating sales growth inflection at Cisco, says Jefferies
Jefferies analyst George Notter lowered his price target for Cisco Systems to $54 from $62 and keeps a Buy rating on the shares. While Cisco guided below Street expectations for the October quarter, the growth rate inflection isn't as bad as it looks due to the lapping of ASC 606 adoption impact and less impact from acquisitions, Notter tells investors in a research note. As such, the analyst thinks investors are overestimating the size of the negative sales growth inflection at Cisco. Further, the company has traditionally been very conservative when reducing expectations, adds Notter.
08/15/19
RBCM
08/15/19
NO CHANGE
Target $53
RBCM
Outperform
Cisco price target lowered to $53 from $64 at RBC Capital
RBC Capital analyst Mitch Steves lowered his price target on Cisco (CSCO) to $53 after its "disappointing" Q1 guidance driven by the slowing macro environment and weakness in China revenues. Coupled with yesterday's weaker results from Netapp (NTAP), the analyst believes that the overall IT spending environment is slowing relative to consensus expectations, even though he still sees Cisco as a "better defensive name to own" within the hardware and networking sector. Steves is keeping his Outperform rating on the stock longer term based on its market-leading 50% share in network equipment and its ability to weather the current enterprise spending decline.
08/15/19
NEED
08/15/19
NO CHANGE
NEED
Hold
Cisco growth drivers ebbing, says Needham
Needham analyst Alex Henderson is keeping his Hold rating on Cisco after its Q4 results, saying that a slowing macro environment is looming while the company's growth drivers are "ebbing". The analyst notes that the company had benefited from a "major upgrade cycle" in Campus that is now approaching three years old and expects the annualized price hikes along with lower tax rates to slow earnings growth. Henderson adds that the bull thesis on Cisco will be further tested since the company will not be a "meaningful 5G play any time soon" and given the "choppy" Data Center spending backdrop.
08/15/19
BARD
08/15/19
NO CHANGE
Target $54
BARD
Outperform
Cisco price target lowered to $54 from $57 at Baird
Baird analyst Jonathan Ruykhaver lowered his price target on Cisco to $54 from $57 following a solid quarter which posted slight beats in both earnings and revenues. The guidance was lower than expected which points to the possibility of a continued weakness in service provider spending as increased macro pressures. Ruykhaver reiterated his Outperform rating on Cisco shares.
NTAP NetApp
$46.75

0.33 (0.71%)

08/15/19
COWN
08/15/19
NO CHANGE
Target $40
COWN
Underperform
NetApp price target lowered to $40 from $53 at Cowen
Cowen analyst Karl Ackerman lowered his price target on NetApp to $40 from $53 citing a downturn in storage spending which the analyst believes will impact all providers. He noted sales and cost action plans are already in place but he will await stabilization before becoming more constructive on the shares. Ackerman maintained his Underperform rating on NetApp shares.
08/15/19
LOOP
08/15/19
NO CHANGE
Target $60
LOOP
Buy
NetApp remains 'structural organic revenue grower', says Loop Capital
Loop Capital analyst Ananda Baruah kept his Buy rating and $60 price target on NetApp, saying its final Q1 earnings were "slightly better" than the negative pre-announcement for the quarter released earlier this month and the discussions featured "net positive" context. The analyst notes that the management offered greater detail about its plans to address the "exaggerated" revenue miss, adding that he continues to view the company as a "structural 5%-10% organic revenue grower." Once NetApp returns to mid-single-digit revenue growth, Baruah contends that the stock should trade at a forward earnings multiple between 13- and 15-times vs. its current valuation of 9.9-times.
08/16/19
SBSH
08/16/19
NO CHANGE
Target $40
SBSH
Sell
NetApp price target lowered to $40 from $55 at Citi
Citi analyst Jim Suva lowered his price target for NetApp to $40 from $55 and maintains a Sell rating on the shares. Limited incremental information was provided on the company's earnings call that would help investors feel better about its execution with year-over-year sales and earnings growth now inflecting to show negative growth, Suva tells investors in a research note.

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SKIS

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SPKE

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$10.07

0.06 (0.60%)

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$10.07

0.06 (0.60%)

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FTFT

Future FinTech

$1.01

-0.02 (-1.95%)

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SALM

Salem Media

$1.65

-0.115 (-6.52%)

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SALM

Salem Media

$1.65

-0.115 (-6.52%)

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BMRC

Bank of Marin

$42.89

-0.63 (-1.45%)

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RIG

Transocean

$5.78

-0.08 (-1.37%)

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Long-term deep otm puts in Transocean see action »

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IWM

iShares Trust Russell 2000 Index Fund

$155.47

-0.26 (-0.17%)

, RUT

Russell 2000 Index

$0.00

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IWM

iShares Trust Russell 2000 Index Fund

$155.47

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Russell 2000 Index

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NASDAQ Market Internals

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TD

Toronto-Dominion

$57.84

0.27 (0.47%)

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Deutsche Bank

$8.02

-0.05 (-0.62%)

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Toronto-Dominion

$57.84

0.27 (0.47%)

DB

Deutsche Bank

$8.02

-0.05 (-0.62%)

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NYSE Market Internals

$0.00

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ADVM

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$6.33

0.15 (2.43%)

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SPY

SPDR S&P 500 ETF Trust

$299.02

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S&P 500

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GOOG

Alphabet

$1,232.55

-7.05 (-0.57%)

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$28.92

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TGT

Target

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CAG

Conagra Brands

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ConAgra put volume heavy and directionally bearish »

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FB

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SKT

Tanger Factory

$15.90

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Action Economics Survey results: »

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