#nasdaq:ntap

[marketexclusive]

Credit Suisse Group AG has upgraded the stock of NetApp Inc. (NASDAQ:NTAP) Credit Suisse Group AG has upgraded the stock of NetApp Inc. (NASDAQ:NTAP) to Underperform from its previous rating of Neutral.

[twobeeinformed]

Ron Pasek Joins NetApp as Executive Vice President, Chief Financial Officer

Ron Pasek Joins NetApp as Executive Vice President, Chief Financial Officer

SUNNYVALE, CA–(Marketwired – Mar 30, 2016) – NetApp, Inc. (NASDAQ: NTAP) today announced the appointment of Ron Pasek as executive vice president, chief financial officer (CFO). Pasek joins NetApp effective April 11, bringing more than 30 years of experience in financial management. Most recently, Pasek served as CFO of Altera Corporation, a worldwide provider of programmable logic devices. In…

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[marketexclusive]

Netapp (NASDAQ:NTAP) Job Cuts Aim to Save $400 Million

NetApp Inc. (NASDAQ:NTAP), a data center storage company, is laying off some of its staff. The company said on Wednesday that it is slashing 12% of its workforce, which is equivalent to around 1,500 workers. NetApp confirmed the job cuts in its quarterly earnings report where it fell short of revenue estimates. The layoffs are expected to save the company around $400 million.

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The organization had $1.39 billion in sales in the third quarter which was less than Wall Street consensus estimates of $1.45 billion. NetApp commented that layoffs were in sync with its restructuring process to streamline the company’s core business. Additionally, it will also aid in decreasing operating expenses by the end of the first quarter 2017.

George Kurian, CEO of NetApp, said that the organization doesn’t plan to alter its quarterly dividend. Kurian was made the CEO in June and earlier headed strategy and development of the organization’s solutions and product portfolio.

NetApp will have to shell out between $60 million and $70 million for the layoffs and associated expenses. Shares were down by 38% over the past year.

Similar to other large data center storage companies, NetApp has encountered some problems adjusting to changing purchasing habits with the advent of cloud computing. Several industry experts have observed that organizations spend less on data center hardware as they opt to rent computing resources on-demand from providers of cloud services such as Microsoft Corporation (NASDAQ:MSFT) and Amazon.com, Inc. (NASDAQ:AMZN).

NetApp declared in December that it would purchase another storage-focused organization called SolidFire for $870 million. SolidFire focuses on flash storage, which is quicker and more efficient than conventional spinning discs. The deal was designed to assist NetApp to compete effectively with other organizations with flash storage expertise such as EMC and Pure Storage. A recent Barclays’ research report questioned whether NetApp’s acquisition of SolidFire made sense and whether the former will benefit significantly from the deal.

NetApp competitors include Lenovo, EMC Corporation (NYSE:EMC), and HP Inc (NYSE:HPQ). The company is presently engaged in shifting its users to its latest cloud-based storage system.

Netapp (NASDAQ:NTAP) Job Cuts Aim to Save $400 Million was originally published on Market Exclusive

[twobeeinformed]

NetApp Hosts Third Quarter Fiscal Year 2016 Financial Results Webcast

NetApp Hosts Third Quarter Fiscal Year 2016 Financial Results Webcast

NetApp Hosts Third Quarter Fiscal Year 2016 Financial Results Webcast SOURCE: NetApp, Inc. February 04, 2016 16:01 ET SUNNYVALE, CA–(Marketwired – Feb 4, 2016) –  After market close on Wednesday, February 17, 2016, NetApp (NASDAQ: NTAP) will announce financial results for the third quarter of fiscal year 2016, which ended January 29, 2016. NetApp executive management will host a conference call…

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[twobeeinformed]

Western Oregon University Improves Student, Faculty Experience With NetApp Flash Storage

Western Oregon University Improves Student, Faculty Experience With NetApp Flash Storage

University Speeds Educational, Operational and Financial Decisions, Enhances Online Collaboration; Register for January 19 Webcast to Learn More About This Innovative Deployment SUNNYVALE, CA–(Marketwired – Jan 12, 2016) – “When it comes to technology, leading universities must deliver unsurpassed learning capabilities, such as engaging video lectures and online courses that extend beyond the…

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[stockmarketsdaily]

New Post has been published on Stock Markets Daily

New Post has been published on http://www.stockmarketsdaily.com/analyst-recommendations-netapp-inc-nasdaqntap/12267/

Analyst Recommendations: NetApp Inc (NASDAQ:NTAP)

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Data storage company NetApp, Inc. (NASDAQ:NTAP) [Trend Analysis] has been having a fairly bad 2015 when looking at the company’s share price, with it entering a steep downward trend. With that in mind, we look to see if any analysts think NTAP might present good value now.

Analysis

NetApp, Inc. (NASDAQ:NTAP) last traded at $35.75 after moving down -0.29% for the trading day. The company last released their quarterly earnings results on Feb 11th for the period ended Jan 205. The company reported earnings of $0.60 against a Zack’s research estimate of $0.60. This represents a 0.00% surprise on the expected result.

The current average broker recommendation for NetApp, Inc., according to Zack’s research, is 2.73, based on 25 broker ratings. With 1 being a strong buy and 5 being a strong sell, this means that on a consensus basis, analysts currently see NetApp, Inc. as a hold. The 12 month target consensus price estimate among these analysts for NetApp, Inc. is currently at $40.20.

Out of the 25 broker recommendations for NTAP, 5 recommend it as a strong buy, 1 as a buy, 16 as a hold 1 as a sell and 2 as a strong sell.

For the current quarter, the consensus analyst estimate for NetApp, Inc. (NASDAQ:NTAP) is $0.55, with analysts expecting year on year growth for the company of -22.33%

About NetApp, Inc. (NASDAQ:NTAP)

NetApp Inc., formerly Network Appliance, Inc., is a leading provider of innovative data management solutions that simplify the complexity of storing, managing, protecting, and retaining enterprise data. Market leaders around the world choose NetApp to help them reduce cost, minimize risk, and adapt to change.

[stockmarketsdaily]

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NetApp, Inc: Value Perspectives (NASDAQ:NTAP)

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We look at NetApp, Inc. (NASDAQ:NTAP) [Trend Analysis] a company in the Data Storage Devices industry getting a lot of share market attention at present, to assess if it provides value for investors considering buying or selling it. Currently NetApp, Inc. is trading at $36.90 after moving down -7.28% in the previous day of trading.

NTAP is trading with a trailing 12 month P/E multiple of 19.42 and an estimated forward P/E multiple of 11.58. The stock has an estimated 5 year annual growth of 11.20% and a PEG multiple of 1.73.

Rather than the usual Price to Earnings (P/E) multiple method, we use a slightly different method to assess if NetApp, Inc. is potentially a value buy for investors, the PEG ratio (P/E to growth). This PEG multiple takes into account the expected long term growth in earnings of the company rather than merely the growth for one earnings period ahead as forward P/E does.

That is to say, P/E simply doesn’t account for the long term prospects of NTAP. As a rule of thumb, a stock with a PEG of between 0 and 1 is usually considered to be underpriced, between 1 and 2 to be at fair value and over 2 to be overpriced. Based on the PEG ratio of NTAP being 1.73, we consider NetApp, Inc. to likely be priced at fair value.

This analysis means that value buyers who do not currently hold NetApp, Inc. (NASDAQ:NTAP) should probably look for better value alternatives and investors currently holding the stock should either continue to hold or sell and look for alternatives.

The mean analyst 12 month target price for NetApp, Inc. (NASDAQ:NTAP) is currently $43.50 or 17.90% above the current price. Additionally, the stock has been as high as $43.75 and as low as $33.34 in the last 52 weeks. Analysts are estimating that NTAP will report earnings per share of $0.66 next quarter.