Market Overview

UPDATE: Piper Jaffray Raises PT to $41 on NetApp Following Earnings Beat

Share:
Related NTAP
Watch These 8 Huge Call Purchases In Friday Trade
Benzinga's Option Alert Recap From October 5

Piper Jaffray reiterated its Overweight rating on NetApp (NASDAQ: NTAP) and increased its price target from $40 to $41.

Piper Jaffray noted, "NetApp reported in-line FQ1 results, though EPS was modestly ahead of expectations, and management's guidance for FQ2 bracketed Street estimates. More importantly, the company's execution continues to improve and we believe the new ONTAP 8.1 cluster-mode is gaining traction with both new and existing customers. With estimates likely to remain well below normal seasonality, we believe NetApp is now set up to deliver a potential “beat and raise” quarter in FQ2(Oct), assuming demand continues to progress."

NetApp closed at $31.75 on Wednesday.

Latest Ratings for NTAP

DateFirmActionFromTo
Sep 2017UBSUpgradesNeutralBuy
Aug 2017Loop CapitalInitiates Coverage OnHold
Aug 2017ArgusUpgradesHoldBuy

View More Analyst Ratings for NTAP
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (NTAP)

View Comments and Join the Discussion!
Loading...

Partner Center

Loading...