For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is NetApp (NTAP) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.NetApp is a member of the Computer and Technology sector. This group includes 616 individual stocks and currently holds a Zacks Sector Rank of #8. The Zack ...

NetApp’s (NTAP) shares have been performing well on the trading front, with a gain of 33.7% year to date compared with the sub-industry and the S&P 500 composite’s growth of 33.4% and 18.1%, respectively. Strong financial performance is driving the stock’s trajectory. The company’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters with an average surprise of 8.6%. Closing at $117.86 as of yesterday’s trading session, NTAP stock is currently trading 12.7% below its 52-week ...

The Nasdaq 100 closed higher by around 1% during Thursday's session. Investors, meanwhile, focused on some notable insider trades.When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.Below is a look at a few recent notable insider sales. For m ...

NetApp (NTAP) recently announced that Anaplan, a premier provider of business planning and decision-making platforms, is deploying NTAP’s unified data storage solution to strengthen the storage systems across its four global data centers. The initiative aims to consolidate Anaplan’s data storage across public and private clouds, streamlining its data operations and advancing innovation in artificial intelligence (AI) solutions.  Anaplan is widely recognized for its cloud-based AI-powered Software-as-a-Servi ...

Key TakeawaysNetApp's quarterly sales and profit topped estimates, but shares of the data infrastructure firm slumped on Thursday.Although NetApp generated strong sales growth in its all-flash array memory products, it said macroeconomic uncertainties were weighing on IT spending.The post-earnings drop for NetApp shares marked a reversal from a strong year-to-date performance. Data storage provider NetApp (NTAP) posted better-than-expected sales and profits for its fiscal first quarter, but its shares plung ...

Core Insights - NetApp, Inc. reported better-than-expected earnings for its first quarter, with earnings of $1.56 per share, surpassing the analyst consensus estimate of $1.45 per share [1] - The company achieved quarterly sales of $1.541 billion, exceeding the analyst consensus estimate of $1.526 billion [1] - For the second quarter, NetApp anticipates adjusted earnings between $1.73 and $1.83 per share, with net revenues projected between $1.565 billion and $1.715 billion [1] Company Performance - The CEO of NetApp, George Kurian, highlighted strong revenue growth and record operating margin and EPS for the first quarter, attributing these results to effective execution in a challenging macroeconomic environment [2] - Kurian expressed confidence in the company's ability to leverage momentum, explore new market opportunities, and enhance stakeholder value [2] - Despite the positive earnings report, NetApp shares fell 8% to $121.40 following the announcement [2] Analyst Reactions - B of A Securities analyst Wamsi Mohan maintained an Underperform rating and raised the price target from $105 to $110 [3] - UBS analyst David Vogt maintained a Neutral rating and increased the price target from $121 to $134 [3] - Barclays analyst Tim Long kept an Equal-Weight rating and raised the price target from $116 to $119 [3] - JP Morgan analyst Samik Chatterjee maintained a Neutral rating and slightly increased the price target from $146 to $147 [3] - Stifel analyst Matthew Sheerin maintained a Buy rating and boosted the price target from $138 to $140 [3]

Group 1: Company Developments - NetApp has introduced new capabilities to enhance VMware Cloud Foundation deployments, allowing customers to optimize IT environments for efficient scaling of VMware workloads [1] - The enhancements are built on previous improvements to NetApp BlueXP disaster recovery service, which now includes guided workflows for automating disaster recovery plans for VMware workloads in hybrid cloud environments [1] - NetApp and Broadcom have collaborated to simplify VCF hybrid cloud environments with NetApp ONTAP software, supporting all storage needs and incorporating SnapMirror active sync for enhanced data replication and availability [2] Group 2: Financial Performance - NetApp reported first-quarter fiscal 2025 revenues of $1.54 billion, an 8% year-over-year increase, exceeding the Zacks Consensus Estimate by 0.46% [4] - The revenue growth was driven by a 40% year-over-year surge in revenues from first-party and marketplace cloud storage services [4] - Non-GAAP earnings were reported at $1.56 per share, up 35.7%, surpassing the Zacks Consensus Estimate of $1.46 [4] Group 3: Market Position - NetApp has a Zacks Rank of 2 (Buy), with shares gaining 72.5% compared to the sub-industry's growth of 55.9% [5] - The company has over 20,000 customers relying on its support for VMware workloads, emphasizing its strong market presence [3] - NetApp continues to drive innovation in storage solutions as a design partner for VMware's Next-Generation vSphere Virtual Volumes [2][3]

NetApp, Inc. (NTAP) reported first-quarter fiscal 2025 non-GAAP earnings of $1.56 per share, which surpassed the Zacks Consensus Estimate by 6.9%. The company reported earnings of $1.15 per share in the prior year period. The bottom line surpassed the company’s guided range of $1.4–$1.5.Revenues of $1.54 billion increased 8% year over year. NTAP projected revenues in the range of $1.455–$1.605 billion. The upside resulted from strong sales across Hybrid Cloud and Public Cloud segments, notably a growth of a ...

Financial Data and Key Metrics Changes - In Q1 FY25, the company achieved revenue of $1.54 billion, reflecting an 8% year-over-year growth, and billings of $1.45 billion, which increased by 12% year-over-year [19][20] - The consolidated gross margin was reported at 72%, up 160 basis points from the previous year, with an operating margin of 26% and EPS of $1.56, both setting new records for Q1 [18][20] - Free cash flow decreased by 28% year-over-year to $300 million, attributed to higher annual incentive compensation payouts and strategic SSD purchases [22] Business Line Data and Key Metrics Changes - The Hybrid Cloud segment saw revenue growth of 8% and product revenue growth of 13%, driven by strong demand for all-flash storage, with an annualized revenue run rate of $3.4 billion, up 21% year-over-year [7][20] - Public Cloud segment revenue was $159 million, up 3% year-over-year, with first-party and marketplace storage services growing approximately 40% year-over-year [12][20] Market Data and Key Metrics Changes - The company reported broad-based strength in product lines across Asia Pacific and European markets, while experiencing some slowness in the U.S. public sector due to budget challenges [36] - The company noted that customers are prioritizing spending on strategic projects, which has positively impacted business performance [36] Company Strategy and Development Direction - The company is focused on differentiated solutions in flash, block, cloud storage, and AI, which are expected to drive revenue growth and increase market share [5][14] - The introduction of the new AFF A-series family of high-performance all-flash arrays is aimed at addressing demanding workloads, including AI applications [7][11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth despite macroeconomic uncertainties, raising FY25 revenue and EPS expectations [5][24] - The company anticipates that headwinds from subscription services will lessen, allowing for stronger performance in first-party and marketplace storage services [13][24] Other Important Information - The company announced a new disclosure of Remaining Performance Obligations (RPO) at $4.5 billion, indicating future growth potential [23] - The CFO announced his upcoming retirement, emphasizing a commitment to ensure a smooth transition while maintaining business as usual [15][26] Q&A Session Summary Question: Impact of higher NAND pricing on demand and gross margins - Management indicated that demand has not significantly changed despite higher NAND prices, as most purchases for FY25 have been secured [29] Question: Performance of the new ASA series - The new ASA series has seen strong adoption rates, with positive customer feedback and several wins in new environments [30][31] Question: Customer spending appetite in uncertain macro conditions - Management noted that while there are geopolitical risks, overall spending is progressing positively, with strategic projects being prioritized [36] Question: Contribution from AI workloads - The company expects strong contributions from AI workloads, with a focus on hybrid solutions that integrate public cloud and on-premises data [39] Question: Competitive dynamics and market share gains - Management highlighted strong performance in both cloud storage and flash portfolios, with significant share gains against competitors [46][47] Question: Durability of all-flash growth - The company is optimistic about sustained growth in the all-flash segment, driven by both new customers and upgrades from existing installations [50][51] Question: Mix of NAND technology - Management expects QLC NAND to grow as a percentage of total flash business, currently at about half [62]

For the quarter ended July 2024, NetApp (NTAP) reported revenue of $1.54 billion, up 7.6% over the same period last year. EPS came in at $1.56, compared to $1.15 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.53 billion, representing a surprise of +0.46%. The company delivered an EPS surprise of +6.85%, with the consensus EPS estimate being $1.46.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compa ...