Barclays raised the firm’s price target on NetApp (NTAP) to $134 from $125 and keeps an Overweight rating on the shares. The company reported a solid earnings beat with gross margins 150 points above Barclays’ estimate, the analyst tells investors in a research note. The firm says NetApp’s all flash array products were strong while public cloud continues to post high-teens growth.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on NTAP:
- NetApp’s Mixed Signals: Strong Q2 Performance Overshadowed by Cautious Q3 Outlook
- NetApp’s Strong Performance Balanced by Macroeconomic Uncertainties and Potential Risks
- Closing Bell Movers: Urban Outfitters rallies nearly 20% on earnings beat
- NetApp up 4% at $115.98 after Q2 earnings beat, guidance raise
- NetApp reports Q2 EPS $2.05, consensus $1.88