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NetApp, Inc. stock price
NetApp, Inc. latest news:
NetApp shares rocket 15%, as analysts applaud strong earnings
NetApp Inc. shares rocketed 15% out of the gate Thursday, as analysts applauded better-than-expected fiscal second-quarter earnings. D.A. Davidson analyst Mark Kelleher said the company has executed a 'significant company realignment' in the last two years as it moved into the Flash storage system market. "Strategic (growth) products continue to provide a strong revenue tailwind, while the headwind of Mature products is moderating," Kelleher wrote in a note. "We continue to believe NTAP offers an attractive value investment opportunity. The company has a rejuvenated product line that now spans many new markets (including Cloud and Flash); it has strong cash flow, and a commitment to its stock buyback program." Kelleher reiterated his buy rating on the stock and raised his price target to $56 from $53. Raymond James analyst Simon Leopold stuck with a market perform rating on the stock, but said the strong guidance was encouraging, as he had been cautious given strong comparisons starting in the January quarter. "We are incrementally positive around stable single digit y/y percentage growth, but continue to be cautious given the tough competitive environment, headwinds from ongoing cloud migrations, and late entry to the hyperconverged space," he wrote. Shares have gained 50% in 2017, while the S&P 500 has gained about 15%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
NetApp shares jump on earnings, sales beat
NetApp Inc. shares jumped in the extended session Wednesday after the company beat fiscal second-quarter earnings and sales expectations. NetApp shares rose 4.6% to $47.96 after hours. The company reported second-quarter net income of $175 million, or 64 cents a share, compared with $109 million, or 38 cents a share, in the year-ago period. Adjusted earnings were 81 cents a share. Revenue rose to $1.42 billion from $1.34 billion in the year-ago period. Analysts surveyed by FactSet had estimated adjusted earnings of 69 cents a share on revenue of $1.38 billion. For the third fiscal quarter, analysts model earnings of 85 cents a share on revenue of $1.44 billion. Executives said that they expected fiscal third-quarter earnings of between $1.18 and $1.26 a share on sales of between $1.43 billion and $1.56 billion. NetApp stock has gained 30% this year, with the S&P 500 index rising 15%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Netapp strengthens board of directors with new appointments
Netapp Inc(NTAP). * Netapp(NTAP) strengthens board of directors with new appointments. * Netapp (NTAP) says DEBORAH KERR, former EVP, chief product and technology officer at sabre, and scott schenkel, CFO at ebay, have joined board of directors Source text for Eikon: Further company coverage:
BRIEF-Netapp Q2 GAAP earnings per share $0.64
Netapp Inc(NTAP). * Netapp(NTAP) reports second quarter fiscal year 2018 results. * Sees Q3 2018 earnings per share $1.18 to $1.26. * Q2 gaap earnings per share $0.64. * Q2 revenue $1.42 billion versus i/b/e/s view $1.38 billion.
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