NetApp Likely To Report Lower Q2 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Lisa Levin
NetApp, Inc. (NASDAQ:NTAP) is expected to report lower Q2 earnings of $1.39 per share compared to $1.48 per share a year ago, with revenue estimated at $1.53 billion. The company has renewed its collaboration with Microsoft. Ahead of the earnings call, analysts have revised their price targets and ratings for NetApp. TD Cowen and Stifel analysts maintain positive outlooks with increased price targets, while UBS, Wedbush, and Citigroup analysts remain neutral with slight price target adjustments.

November 27, 2023 | 9:08 am
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NetApp is anticipated to report lower Q2 earnings with a slight increase in revenue. Analysts have mixed ratings but generally increased price targets, indicating a cautiously optimistic outlook.
The expected decrease in earnings per share could put downward pressure on NTAP's stock price in the short term. However, the overall increase in analyst price targets and the renewal of the collaboration with Microsoft could balance the sentiment, leading to a neutral score. The high relevance is due to the direct mention of NTAP's financials and analyst ratings. The importance is high as earnings reports are critical for investors, but not at the maximum because the changes in earnings and revenue are relatively small. The confidence level reflects the mixed signals from analysts and the typical uncertainty surrounding earnings releases.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100