Market Overview

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

Share:
Related NTAP
8 Stocks To Watch For August 16, 2017
Earnings Scheduled For August 16, 2017
Cisco, Target To Report; 2 Others In Or Near Buy Zones: Investing Action Plan (Investor's Business Daily)

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
Aug 2017Longbow ResearchUpgradesNeutralBuy
Aug 2017Maxim GroupUpgradesHoldBuy
Aug 2017Credit SuisseMaintainsNeutral

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!