On Nov 22, major Wall Street analysts update their ratings for $NetApp (NTAP.US)$, with price targets ranging from $121 to $140.
Morgan Stanley analyst Meta Marshall maintains with a hold rating, and adjusts the target price from $127 to $132.
BofA Securities analyst Wamsi Mohan maintains with a sell rating, and adjusts the target price from $115 to $121.
Citi analyst Asiya Merchant maintains with a hold rating, and adjusts the target price from $130 to $135.
Barclays analyst Tim Long maintains with a hold rating, and adjusts the target price from $116 to $132.
Wells Fargo analyst Aaron Rakers maintains with a hold rating, and adjusts the target price from $135 to $140.
Furthermore, according to the comprehensive report, the opinions of $NetApp (NTAP.US)$'s main analysts recently are as follows:
Following a fiscal Q2 beat and raised FY25 guidance, concerns remain regarding the weak macroeconomic environment and the sustainability of product gross margins. Specifically, there is perceived risk to the momentum in All Flash and to overall gross margins as SSD pre-buys are phased out.
Fiscal Q2 results for NetApp were seen as better than anticipated due to sustained momentum in flash technology. The reception of over 100 AI wins were viewed as encouraging, yet the perspective that Enterprise AI opportunities remain largely further out, coupled with a stable macro backdrop, led analysts to maintain a cautious outlook.
NetApp's fiscal Q2 results surpassed expectations, contributing to a roughly 5% increase in its share price. Despite this, there are challenging comparisons ahead and meaningful gains might be limited unless there is an extensive recovery in enterprise storage spending or a significant rise in artificial intelligence-driven storage demand.
NetApp's fiscal Q2 results surpassed expectations on revenue and earnings, bolstered by solid operating leverage and sustained strength in gross margins.
NetApp reported solid results for Q2 and raised its guidance for FY25. This update should bolster confidence in the company's outlook for mid to high single-digit revenue growth from FY25 to FY27, as detailed during the June 2024 Investor Day. However, the company's shares are still perceived as fairly valued.
Here are the latest investment ratings and price targets for $NetApp (NTAP.US)$ from 5 analysts:
Note:
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