NetApp Likely To Report Lower Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call – NetApp (NASDAQ:NTAP)

NetApp, Inc. (NTAP) is set to announce its financial results for the second quarter of fiscal year 2024 on November 28, 2023. Analysts are predicting quarterly earnings of $1.39 per share, slightly lower than the previous year’s earnings of $1.48 per share. Additionally, the company’s revenue for the quarter is estimated to be around $1.53 billion, according to data from Benzinga Pro.

One recent development for NetApp is the renewal of its collaboration with Microsoft. This partnership is expected to continue benefiting both companies, as they work together to provide innovative solutions in the technology industry.

On Friday, NetApp’s shares closed at $78.34, experiencing a slight increase of 0.5%. This positive momentum suggests that investors are optimistic about the company’s upcoming financial results and the potential growth opportunities it may present.

For more detailed information on NetApp’s performance and analyst ratings, readers can access the latest analyst ratings on Benzinga’s Analyst Stock Ratings page. This resource allows users to sort ratings by stock ticker, company name, analyst firm, rating change, or other variables.

It is also worth mentioning that Benzinga has a team of accurate analysts who have been closely monitoring NetApp’s performance. These analysts have consistently provided reliable insights and recommendations. Let’s take a look at some of the recent ratings from Benzinga’s most accurate analysts:

– TD Cowen analyst Krish Sankar maintained an Outperform rating and raised the price target from $85 to $90 on August 24, 2023. Sankar has an impressive accuracy rate of 73%.

– Stifel analyst Matthew Sheerin maintained a Buy rating and increased the price target from $80 to $85 on August 24, 2023. Sheerin also boasts an accuracy rate of 73%.

– UBS analyst David Vogt maintained a Neutral rating and raised the price target from $77 to $84 on August 24, 2023. Vogt has an accuracy rate of 77%.

– Wedbush analyst Matt Bryson reiterated a Neutral rating with a price target of $75 on August 24, 2023. Bryson has an accuracy rate of 84%.

– Citigroup analyst Jim Suva maintained a Neutral rating and increased the price target from $80 to $83 on August 24, 2023. Suva has an accuracy rate of 72%.

These ratings and price targets from Benzinga’s accurate analysts provide valuable insights for investors considering NetApp as a potential investment opportunity.

In conclusion, NetApp is preparing to release its second-quarter financial results, and analysts are expecting slightly lower earnings compared to the previous year. However, the company’s recent collaboration renewal with Microsoft and positive market performance indicate potential growth opportunities. Investors can utilize the insights from Benzinga’s accurate analysts to make informed decisions regarding NetApp’s future prospects.

Leave a Reply

Your email address will not be published. Required fields are marked *