Susquehanna lowered the firm’s price target on NetApp (NTAP) to $110 from $120 and keeps a Neutral rating on the shares. The firm said its revenue was roughly in line with consensus estimates, driven by strength in all-flash storage and growth in first-party and marketplace storage services. The the Q1 guide and commentary suggest the deceleration in Yyear-over-year changes in Product revenue intensifying into FY26 and most likely not bottoming until FY27.
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Read More on NTAP:
- NetApp’s Strong Market Position and Growth Potential Earns Buy Rating Amidst Conservative FY26 Outlook
- NetApp price target lowered to $115 from $120 at JPMorgan
- Cautious Hold on NetApp Amid Macroeconomic Uncertainties and Competitive Pressures
- NetApp price target raised to $121 from $120 at BofA
- NetApp price target lowered to $100 from $115 at Wells Fargo
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