|Bid||67.15 x 1800|
|Ask||67.99 x 1100|
|Day's Range||66.67 - 68.39|
|52 Week Range||37.43 - 72.85|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.80 (1.19%)|
|1y Target Est||N/A|
NetApp (NTAP) is depending on its Data Fabric strategy and other solutions to acquire new customers, expand its presence among existing customers, and create new business opportunities. In fiscal 2018, NetApp was one of the market leaders in all-flash arrays and was named a leader in Gartner’s Magic Quadrant. This quadrant ranked IBM (IBM), Hewlett Packard Enterprise (HPE), and Pure Storage (PSTG) as other leaders in all-flash arrays.
In the previous part of this series, we saw that NetApp’s (NTAP) revenue rose 10% YoY (year-over-year) in fiscal Q4 2018 and 7% YoY in fiscal 2018, beating its guidance. The company’s solid demand, key customer wins, and expansion across regions boosted its revenue.
NetApp (NTAP) announced its fiscal Q4 2018 (ended in April) results on May 23, reporting revenue of $1.6 billion. Its revenue rose 10% YoY (year-over-year) from $1.5 billion. The company’s non-GAAP net income rose 20.5% YoY to $288 million, and its EPS rose 22% to $1.05.
NetApp Inc. (NASDAQ:NTAP) had already triggered a weekly short trade coming into earnings this week, so this outcome is adding to the bull woes. But when the selling is heavy the put premiums are juiciest, and therein lies my opportunity today. This morning’s negative reaction to the earnings headline is one of disappointment.
When searching for the best stocks to buy and watch, look for companies with strong earnings growth – and check the earnings calendar to see when they report. Be sure also see our latest list of stocks expecting at least 50% earnings growth in Q1.
In a talk with TheStreet, CEO George Kurian reiterated that he expects NetApp to exit fiscal 2021 (it ends in April 2021) with $400 million to $600 million in annualized recurring revenue (mostly via high-margin software sales) from solutions that help companies make better use of their cloud storage assets. "We're substantially outpacing the market, and closing from No. 2 to No. 1 quite quickly," said Kurian about NetApp's AFA business, which between products and services is now on a $2.4 billion annual revenue run rate.
Software purchases, the migration to cloud-based systems and investments to enhance digital capabilities should trigger a surge in IT company profits over the next few years, according to Moody’s Investors Services. In a research note, reported on by Barron’s, analyst Stephen Sohn and his colleagues predicted that the likes of Adobe Systems Inc. ( ADBE), Microsoft Corp. ( MSFT), NetApp Inc. ( NTAP), Oracle Corp. ( ORCL) and Salesforce.com Inc. ( CRM) will deliver profits that easily outpace global economic growth. Moody’s identified Microsoft as the biggest beneficiary of industry-wide structural drivers.
After the bell on Wednesday, NetApp reported April quarter (fiscal fourth quarter) revenue of $1.64 billion (up 11% annually) and non-GAAP EPS of $1.05, beating consensus estimates of $1.60 billion and $1.01. With NetApp's stock up 21% on the year and 69% over the last 12 months going into earnings, expectations were somewhat high. Research firm IDC previously estimated NetApp's external storage systems share grew 1.2 percentage points annually in Q4 to 11.2% (good for third place behind Dell EMC and HPE), with its 14.5% revenue growth easily outpacing industry growth of 1.8%.
NetApp Inc. (NASDAQ:NTAP) shares were declining after hours as the company reported its latest quarterly earnings results, which did come in ahead of Wall Street’s estimates. The data storage company reported its fiscal fourth-quarter results for fiscal 2018, which beat on the top and bottom line, but shares took a hit as the company’s outlook was below estimates. The figure was ahead of NetApp’s revenue from the first quarter of fiscal 2017 by 11%.
NetApp (NTAP) shares are down in late trading as disappointing guidance overshadowed better-than-expected earnings Wednesday. The Silicon Valley company reported after the market closed that it earned $1.05 a share on revenue of $1.64 billion in the fiscal fourth quarter, compared with EPS of 86 cents on revenue of $1.48 billion a year ago. "It was a great finish to a good year," NetApp Chief Executive George Kurian tells Barron's. "We feel very good about the direction of the company from its transition three years ago." But NetApp offered first-quarter guidance midranges that fell short of estimates.
NetApp reported fourth-quarter revenue rose 11% to $1.64 billion, beating the consensus forecast of $1.60 billion.
NetApp Inc. shares fell in the extended session Wednesday even after the hybrid cloud data company's results topped Wall Street estimates and its outlook bookended the analyst consensus. NetApp shares fell 4.2% after hours, following a 0.3% decline to close the regular session at $66.79. NetApp estimates adjusted earnings of 76 cents to 82 cents a share on revenue of $1.37 billion to $1.47 billion for the first quarter.
NetApp reported quarterly earnings after the market close that beat on the top and bottom lines but presented an outlook that fell short of estimates.
The Sunnyvale, California-based company said it had net income of 99 cents per share. Earnings, adjusted for one-time gains and costs, were $1.05 per share. The results exceeded Wall Street expectations. ...
Check out the companies making headlines after the bell: Shares of Williams-Sonoma WSM soared nearly 15 percent in after hours trading. The home and kitchen retailer reported first quarter earnings and revenue that blasted past analyst expectations and prompted the company to strengthen outlook for fiscal 2018 revenue and earnings.
Investors pursuing a solid, dependable stock investment can often be led to NetApp Inc (NASDAQ:NTAP), a large-cap worth US$18.34B. Doing business globally, large caps tend to have diversified revenue streamsRead More...
NetApp (NTAP) stock has returned 73% in the last 12 months, 0.5% in the last month, and -2.7% in the last five days. NetApp stock rose 36% in 2016 and 60% in 2017. Since the start of 2018, it’s risen almost 26%.
NetApp (NTAP) has a dividend yield of 1.1% and pays a quarterly dividend of $0.20 per share, leading to an annualized payout of $0.80 per share. NetApp’s dividend payout ratio is 27.4%, and the company has increased its dividend for the last four consecutive years.
NetApp (NTAP) fourth-quarter results are likely to benefit from ongoing transition of product mix to growth oriented sectors like all-flash arrays and hybrid cloud.
Keith Bliss, Drive Wealth LLC; Kim Forrest, Fort Pitt Capital; and CNBC's Rick Santelli, discuss the day's market activity following Trump's announcement he will not meet with North Korea's Kim Jong Un.