NetApp (NTAP)

We raise our F2026E (Apr) EPS for NetApp (NTAP; $125.73; E/W) from $7.30 to $7.75 (+12% YoY) while maintaining F2025E forecasts at $6.90 (+6%) after attending the company’s Investor Day in New York on Tuesday…

We are adjusting our F2025E (Apr) EPS for NetApp (NTAP; $116.50; E/W) from $6.85 to $6.90 to account for somewhat better forward guidance after FQ4 (Apr) results largely came in as we expected. Specifically, FQ4…

We think NetApp (NTAP; $114.11; E/W) produces some solid upside with its FQ4 (Apr) results and outlook, which are scheduled for Thursday, May 30th (after market), vs. our and Street estimates. At the same time,…

Last week, NetApp (NTAP; $110.47; E/W) announced a new AFF A-Series all-flash array (AFA) storage system aimed at increasing enterprise needs to “re-think” storage infrastructure strategies for the accelerated development of artificial intelligence (AI) applications….

Yesterday, NetApp (NTAP; $104.80; E/W) announced some incremental developments on the artificial intelligence (AI) front. Although we assume AI-workloads are not a significant sales driver of storage systems until customers start to deploy models capable…

NetApp (NTAP; $108.44; E/W) shares are surging 20%+ this morning on the heels of a solid “beat and raise” off further momentum with its revamped all-flash array (AFA) product line that is driving an unexpected…

We think FQ3 (Jan) results and FQ4 (Apr) guidance from NetApp (NTAP; $86.03; E/W), scheduled for next Thursday (2/29 after market), are unlikely to change our F2024/F2025E (Apr) EPS thinking much given further evidence of…

We raise F2024/F2025E (Apr) EPS for NetApp (NTAP; $90.15; E/W) from $5.75/$6.25 to $6.18/$6.70 after a solid “beat and raise” in the face of what it still sees as a soft IT spending environment with…

NetApp (NTAP; $78.11; E/W) reported FQ2 (Oct) non-GAAP EPS of $1.58, which comfortably beat our $1.37 and the Street’s $1.39 on somewhat better than expected sales ($1,562mm vs. our $1,525mm and the Street’s $1,528mm). As…

We think the EPS bar for NetApp (NTAP; $77.52; E/W) is set at a reasonable level ahead of its FQ2 (Oct) results and outlook, which are set for Tuesday, November 28th (after market). We think…

On Monday (10/23), we attended NetApp’s (NTAP; $73.84; E/W) first in-person Insight Conference in four years in Las Vegas. Our time at the company’s user conference included Financial Analysts Tech Sessions, where NTAP walked through…

NetApp’s (NTAP; $76.53; E/W) FQ1 (July) EPS was $1.15 (-4% YoY), which beat our $1.05 and the Street’s $1.07, on basically as expected sales and upside from some higher gross margins and tighter opex controls,…

NetApp (NTAP; $76.53; E/W) reported FQ1 (Jul) non-GAAP EPS of $1.15, which was ahead of our $1.05 and the Street’s $1.07 on basically as expected sales ($1,432mm vs. our $1,425mm and the Street’s $1,413mm). As…

The shares of NetApp (NTAP; $75.03; E/W) are up 13% (vs. +5% for the S&P 500) post FQ4 (Apr) results on 5/31 despite ongoing top line pressures (e.g., down low-to-mid-single digits in F2024E) and limited…

Last Thursday (6/1), we hosted an investor meeting at NetApp’s (NTAP; $70.28; E/W) headquarters in San Jose, CA where we had the opportunity to follow up with the company’s CFO Mike Berry following its FQ4…