NetApp (NTAP)

We remain comfortable with our estimates for NetApp (NTAP; $117.99; E/W) ahead of its FQ2 (Oct) results and outlook, scheduled for next Thursday (11/21 after-market). We see NTAP benefiting from at least a seasonal recovery…

Earlier today, NetApp (NTAP; $121.31; E/W) announced it is expanding on its partnership with Google Cloud by integrating additional data storage and services into the Google Distributed Cloud architecture, which management previously hinted at during…

This morning, NetApp (NTAP; $122.64; E/W) posted a series of new product and partnership announcements that followed up nicely on yesterday’s CEO keynote from its Insight user conference and were consistent with prior “hints”. Importantly,…

Yesterday, we attended NetApp’s (NTAP; $122.92; E/W) Insight user conference in Las Vegas where we joined the company’s Financial Analysts Session before listening in on a keynote from CEO George Kurian, who was joined on…

We bump up our F2025/F2026E (Apr) EPS for NetApp (NTAP; $131.91; E/W) from $6.90/$7.75 to $7.15/$8.00 after a solid FQ1 (Jul) EPS beat drove some incremental confidence in the company’s full F2025E EPS guidance. Specifically,…

NetApp (NTAP; $131.91; E/W) reported FQ1 (Jul) non-GAAP EPS of $1.56, which was ahead of our $1.47 and the Street’s $1.45, on some sales upside ($1,541mm vs. our $1,538mm and the Street’s $1,526mm) and better…

We think the risk/reward skews somewhat positive for the shares of NetApp (NTAP; $133.25; E/W) into its FQ1 (Jul) results and outlook next Wednesday (8/28 after market), albeit with puts and takes for investors to…

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…