On Nov 23, major Wall Street analysts update their ratings for $NetApp (NTAP.US)$, with price targets ranging from $140 to $160.
Evercore analyst Amit Daryanani maintains with a hold rating, and adjusts the target price from $130 to $140.
TD Cowen analyst Krish Sankar maintains with a buy rating, and adjusts the target price from $145 to $160.
Oppenheimer analyst Param Singh initiates coverage with a hold rating.
Stifel analyst Matthew Sheerin maintains with a buy rating, and adjusts the target price from $140 to $145.
Furthermore, according to the comprehensive report, the opinions of $NetApp (NTAP.US)$'s main analysts recently are as follows:
Despite NetApp's fiscal Q2 performance surpassing expectations, concerns persist regarding the weak macroeconomic environment and the sustainability of product gross margins. As SSD pre-buys diminish, there's perceived risk to the momentum in All Flash and to overall gross margins.
Fiscal Q2 results for NetApp were better than investors initially anticipated, continuing the trend in flash momentum. The achievement of over 100 AI wins is seen as encouraging. However, the perception that the broader Enterprise AI opportunity remains largely unrealized in the near term, alongside a stable macroeconomic environment, frames the current outlook.
NetApp's fiscal Q2 results exceeded expectations, prompting a 5% rise in share prices. Looking ahead, the company may encounter challenging comparisons and significant growth might be contingent on a more extensive recovery in enterprise storage spending or a notable increase in demand driven by artificial intelligence.
NetApp's fiscal Q2 outcomes surpassed expectations on both the top and bottom lines, attributed to robust operating leverage and sustained strength in gross margins.
NetApp has been praised for its notable EPS performance in the recently ended quarter. The company has been successful in exceeding expectations and improving forecasts, despite the ongoing uncertain macroeconomic conditions. It has been highlighted that NetApp is excelling not just in executing its business strategies but also in gaining additional market share. There remains, however, some discussion regarding whether these successes are due to cyclical or secular trends.
Here are the latest investment ratings and price targets for $NetApp (NTAP.US)$ from 4 analysts:
Note:
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