NetApp, Inc. provides software, systems, and cloud services to manage and share data on-premises, and private and public clouds worldwide. The company offers cloud storage services, including NetApp Cloud Volumes; cloud control solutions, such as NetApp Cloud Manager and NetApp Virtual Desktop Service; cloud services and analytics comprising NetApp Cloud Insights, NetApp Cloud Sync, NetApp Cloud Compliance, NetApp Cloud Tiering, NetApp SaaS Backup, NetApp Cloud Backup, and NetApp Global File Cache; and Cloud Optimization solutions, such as Spot by NetApp, Spot Cloud Analyzer by NetApp, Spot Eco by NetApp, Spot Ocean by NetApp, Spot Wave by NetApp, Spot Elastigroup by NetApp, and NetApp Virtual Desktop Managed Service. It provides data storage solutions comprising NetApp All-Flash FAS series, NetApp Fabric Attached Storage, NetApp FlexPod, NetApp E/EF series, NetApp StorageGRID, NetApp SolidFire, and NetApp HCI; data protection solutions, such as NetApp SnapCenter Backup Management, NetApp SnapMirror Data Replication, NetApp SnapLock Data Compliance, and NetApp Data Availability Services; and data management solutions, including NetApp ONTAP Storage Management System, NetApp ElementOS software, NetApp SANtricity software, NetApp Active IQ Digital Advisor, OnCommand Insight, and OnCommand Workflow Automation. In addition, the company offers application-aware data management service under the NetApp Astra name; and payment solutions and storage-as-a-service under the NetApp Keystone name. Further, it provides assessment, design, consulting, and implementation services. The company serves the energy, financial service, government, technology, internet, life science, healthcare service, manufacturing, media, entertainment, animation, video postproduction, and telecommunication markets through a direct sales force and an ecosystem of partners. NetApp, Inc. was incorporated in 1992 and is headquartered in San Jose, California.
IPO Year: 1995
Exchange: NASDAQ
Website: netapp.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/16/2024 | $160.00 | Neutral → Overweight | Analyst |
| 11/22/2024 | $145.00 → $160.00 | Buy | TD Cowen |
| 11/15/2024 | Neutral | Cleveland Research | |
| 11/13/2024 | Perform | Oppenheimer | |
| 9/3/2024 | $121.00 → $150.00 | Hold → Buy | Loop Capital |
| 5/31/2024 | $120.00 → $135.00 | Buy | TD Cowen |
| 5/31/2024 | $95.00 → $125.00 | Underweight → Neutral | JP Morgan |
| 3/4/2024 | $130.00 | Hold → Buy | Argus |
| 3/1/2024 | $100.00 → $120.00 | Outperform | TD Cowen |
| 1/16/2024 | Outperform → Mkt Perform | Raymond James |
Analyst upgraded NetApp from Neutral to Overweight and set a new price target of $160.00
TD Cowen reiterated coverage of NetApp with a rating of Buy and set a new price target of $160.00 from $145.00 previously
Cleveland Research initiated coverage of NetApp with a rating of Neutral
Oppenheimer initiated coverage of NetApp with a rating of Perform
Loop Capital upgraded NetApp from Hold to Buy and set a new price target of $150.00 from $121.00 previously
TD Cowen reiterated coverage of NetApp with a rating of Buy and set a new price target of $135.00 from $120.00 previously
JP Morgan upgraded NetApp from Underweight to Neutral and set a new price target of $125.00 from $95.00 previously
Argus upgraded NetApp from Hold to Buy and set a new price target of $130.00
TD Cowen reiterated coverage of NetApp with a rating of Outperform and set a new price target of $120.00 from $100.00 previously
Raymond James downgraded NetApp from Outperform to Mkt Perform
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ITASCA, Ill. and SAN JOSE, Calif., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Flexera, the global leader in technology spend and risk management, has entered into a definitive agreement to acquire the Spot by NetApp FinOps business from NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company. The transaction will enhance Flexera's ability to better serve customers and partners seeking to manage growing multi-cloud cost and FinOps needs across a broader range of services from hybrid cloud, SaaS applications and containers. The combination of Spot's artificial intelligence (AI) and machine learning (ML)-enabled technology and Flexera's hybrid cloud expertise will offer a comprehensive F
Organizations Worldwide Brace for a Year of AI Transformation, Security Challenges, and Sustainability Imperatives NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today released its second annual Data Complexity Report, which examines how global organizations are navigating the increasing complexity of managing their data for AI. This year's report provides a global view into how AI will impact organizations in 2025 and beyond, offering insights to help businesses leverage AI's potential while navigating the complexities and risks that accompany this transformative technology. "2025 is shaping up to be a defining year for AI, as organizations transition from experime
Survey of cybersecurity leaders highlights the importance of data classification in enhancing cyber resilience NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today announced the release of its latest report analyzing the state of cybersecurity and offering actionable insights to help organizations strengthen their cyber resiliency. The Futurum Group study, "Cloud, Complexity, AI: The Triple Threat Demanding New Cyber Resilience Strategies" sponsored by NetApp, provides a comprehensive analysis of evolving cyber threats and resiliency strategies. The study, which surveyed over 1,300 cybersecurity leaders across industries worldwide, reveals that more than 54 percent
New integration simplifies the use of NetApp block storage with AWS Outposts NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today announced NetApp on-premises enterprise storage arrays for AWS Outposts, a new integrated solution allowing AWS Outposts customers to simplify the use of external block data volumes running on NetApp on-premises enterprise storage arrays in AWS Outposts deployments directly through the Amazon Web Services (AWS) Management Console. AWS Outposts is a family of fully managed solutions delivering AWS infrastructure and services to virtually any on-premises or edge location for a truly consistent hybrid experience. This solution simplifies hybri
NetApp™ (NASDAQ:NTAP), the intelligent data infrastructure company, today announced the Company will participate in firesides chat at the following conferences: UBS TMT Conference George Kurian, chief executive officer December 3, 2024 Presentation: 1:35 – 2:05 p.m. Mountain Time Wells Fargo TMT Summitt Kris Newton, VP, investor relations December 4, 2024 Presentation time: 12:45 – 1:20 p.m. Pacific Time NASDAQ London Conference Mike Berry, EVP, finance and CFO December 11, 2024 Presentation: 11:00 – 11:30 a.m. Greenwich Mean Time Barclays TMT Con
Net revenues of $1.66 billion for the second quarter; 6% year-over-year increase Record all-flash array annualized net revenue run rate1 of $3.8 billion, an increase of 19% year-over-year First party and marketplace cloud storage services revenue grew approximately 43% year-over-year Second quarter GAAP operating margin of 21%; record second quarter non-GAAP operating margin2 of 29% Second quarter GAAP net income per share3 of $1.42; record second quarter non-GAAP net income per share2 of $1.87 Returned $406 million to stockholders through share repurchases and cash dividends NetApp (NASDAQ:NTAP), the intelligent data infrastructure company, today reported financial result
Updated all-flash storage offerings drive performance at all budgets and offer simplicity at scale NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today announced updates to its portfolio of enterprise storage offerings including new NetApp AFF A-Series and AFF C-Series systems with mid-range, all-flash, unified data storage at price points for businesses of any size and updates to NetApp StorageGRID, driving improved density and performance for object storage. Today's dynamic enterprises need an intelligent data strategy to address the challenges of modern data management, such as exponential data growth, multi-cloud complexity, and the need for AI readiness. Intellig
New capabilities empower businesses with secure, simplified application management NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today announced an expanded collaboration with Red Hat, Inc., the world's leading provider of open source solutions, to offer new solutions to streamline and accelerate enterprise application development and management in virtual environments. By uniting NetApp's intelligent data infrastructure with Red Hat OpenShift, this collaboration offers customers more flexibility to manage their virtualized environments more seamlessly on-premises and in the hybrid multicloud. Companies are under increasing pressure to innovate quickly, developing ne
After market close on Thursday, November 21, 2024, NetApp (NASDAQ:NTAP) will announce financial results for the second quarter of fiscal year 2025 which ended October 25, 2024. NetApp executive management will host a conference call Webcast at 2:30 p.m. Pacific Time to discuss these results and provide their perspective on market dynamics. How to Participate The live Webcast call can be accessed at investors.netapp.com. Please allow at least 15 minutes prior to the start of the Webcast to log in. An audio replay Webcast will also be available after 4:30 p.m. Pacific Time. NetApp Future Targeted Release Dates Q3 FY 2025 results target date: February 27, 2025 Q4 FY 2025 results target dat
NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today announced the appointment of Pamela Hennard as the new Chief Diversity and Inclusion Officer. In her expanded role, Pamela will lead NetApp's efforts to foster diversity, equity, and inclusion across the organization and within the talent acquisition process and throughout the full employee journey. Pamela Hennard has been an integral part of NetApp's success, serving as the Vice President of Global Talent Acquisition. With over 27 years of experience in human resources, Pamela brings a wealth of expertise in developing and leading high-performing teams. During Pam's tenure at NetApp, her strategic guidance has been
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Net revenues of $1.66 billion for the second quarter; 6% year-over-year increase Record all-flash array annualized net revenue run rate1 of $3.8 billion, an increase of 19% year-over-year First party and marketplace cloud storage services revenue grew approximately 43% year-over-year Second quarter GAAP operating margin of 21%; record second quarter non-GAAP operating margin2 of 29% Second quarter GAAP net income per share3 of $1.42; record second quarter non-GAAP net income per share2 of $1.87 Returned $406 million to stockholders through share repurchases and cash dividends NetApp (NASDAQ:NTAP), the intelligent data infrastructure company, today reported financial result
After market close on Thursday, November 21, 2024, NetApp (NASDAQ:NTAP) will announce financial results for the second quarter of fiscal year 2025 which ended October 25, 2024. NetApp executive management will host a conference call Webcast at 2:30 p.m. Pacific Time to discuss these results and provide their perspective on market dynamics. How to Participate The live Webcast call can be accessed at investors.netapp.com. Please allow at least 15 minutes prior to the start of the Webcast to log in. An audio replay Webcast will also be available after 4:30 p.m. Pacific Time. NetApp Future Targeted Release Dates Q3 FY 2025 results target date: February 27, 2025 Q4 FY 2025 results target dat
Net revenues of $1.54 billion for the first quarter; 8% year-over-year increase All-flash array annualized net revenue run rate1 of $3.4 billion, an increase of 21% year-over-year First party and marketplace cloud storage services revenue grew approximately 40% year-over-year Record first quarter GAAP operating margin of 18%; record first quarter non-GAAP operating margin2 of 26% Record first quarter GAAP net income per share3 of $1.17; record first quarter non-GAAP net income per share2 of $1.56 Returned $507 million to stockholders through share repurchases and cash dividends NetApp (NASDAQ:NTAP), the intelligent data infrastructure company, today reported financial res
After market close on Wednesday, August 28, 2024, NetApp (NASDAQ:NTAP) will announce financial results for the first quarter of fiscal year 2025 which ended July 26, 2024. NetApp executive management will host a conference call Webcast at 2:30 p.m. Pacific Time to discuss these results and provide their perspective on market dynamics. How to Participate The live Webcast call can be accessed at investors.netapp.com. Please allow at least 15 minutes prior to the start of the Webcast to log in. An audio replay Webcast will also be available after 4:30 p.m. Pacific Time. NetApp Future Targeted Release Dates Q2 FY 2025 results target date: November 26, 2024 Q3 FY 2025 results target date
NetApp (NASDAQ:NTAP) and Evercore ISI will hold a tech talk to discuss NetApp's AI strategy and direction with Russell Fishman, senior director, product management global innovation, solutions, and alliances, and Hoseb Dermanilian, senior director, worldwide sales specialist, AI solutions. Following brief opening remarks from NetApp, a question and answer session will be moderated by Amit Daryanani, senior managing director at Evercore ISI Institutional Equities. Interested parties can find more information on NetApp's Investor Relations website at http://investors.netapp.com. No new financial information will be discussed during this conference call. Date: Wednesday, July 10, 2024 Time
Net revenues of $1.67 billion for the fourth quarter; Net revenues of $6.27 billion for fiscal year 2024 Record all-flash array annualized revenue run rate1 of $3.6 billion, an increase of 17% year-over-year Record fiscal year GAAP consolidated gross margins of 71%; record non-GAAP consolidated gross margins2 of 72% Fiscal year GAAP operating margins of 19%; record non-GAAP operating margins2 of 27% Fiscal year GAAP net income per share3 of $4.63; record non-GAAP net income per share2 of $6.46 NetApp announced an increase in its quarterly dividend to $0.52 cents per share and a new share repurchase authorization of an additional $1 billion NetApp (NASDAQ:NTAP), the intell
After market close on Thursday, May 30, 2024, NetApp (NASDAQ:NTAP) will announce financial results for the fourth quarter and fiscal year 2024 which ended April 26, 2024. NetApp executive management will host a conference call at 2:30 p.m. Pacific Time to discuss these results and provide their perspective on market dynamics. How to Participate The live Webcast call can be accessed at investors.netapp.com. Please allow at least 15 minutes prior to the start of the Webcast to log in. An audio replay Webcast will also be available after 4:30 p.m. Pacific Time. NetApp Future Targeted Release Dates Q1 FY 2025 results target date: August 28, 2024 Q2 FY 2025 results target date: Novembe
Net revenues of $1.61 billion for the third quarter; 5% growth year-over-year Record All-flash array annualized revenue run rate1 of $3.4 billion, an increase of 21% year-over-year Record Q3 GAAP consolidated gross margins of 72%; record non-GAAP consolidated gross margins2 of 73% Q3 GAAP operating margins of 23%; record non-GAAP operating margins2 of 30% Q3 GAAP net income per share3 of $1.48; record non-GAAP net income per share2 of $1.94 NetApp (NASDAQ:NTAP), the intelligent data infrastructure company, today reported financial results for the third quarter of fiscal year 2024, which ended on January 26, 2024. "In Q3, our focused execution and continued operational disci
After market close on Thursday, February 29, 2024, NetApp (NASDAQ:NTAP) will announce financial results for the third quarter of fiscal year 2024 which ended January 26, 2024. NetApp executive management will host a conference call at 2:00 p.m. Pacific Time to discuss these results and provide their perspective on market dynamics. How to Participate The live Webcast call can be accessed at investors.netapp.com. Please allow at least 15 minutes prior to the start of the Webcast to log in. An audio replay Webcast will also be available after 4:00 p.m. Pacific Time. NetApp Future Targeted Release Dates Q4 FY 2024 results target date: May 30, 2024 Q1 FY 2025 results target date: Augus
Net revenues of $1.56 billion for the second quarter Introduced substantial innovation including the ASA C-Series, the extension of the Company's Ransomware Recovery Guarantee, and performance and availability guarantees for NetApp Keystone storage as a service Record Q2 GAAP consolidated gross margins of 71%; record non-GAAP consolidated gross margins1 of 72% Q2 GAAP operating margins of 20%; record non-GAAP operating margins1 of 27% Q2 GAAP net income per share2 of $1.10; record non-GAAP net income3 per share of $1.58 $403 million returned to stockholders in share repurchases and cash dividends in the second quarter NetApp (NASDAQ:NTAP), the intelligent data infrastructu
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NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today announced the appointment of Pamela Hennard as the new Chief Diversity and Inclusion Officer. In her expanded role, Pamela will lead NetApp's efforts to foster diversity, equity, and inclusion across the organization and within the talent acquisition process and throughout the full employee journey. Pamela Hennard has been an integral part of NetApp's success, serving as the Vice President of Global Talent Acquisition. With over 27 years of experience in human resources, Pamela brings a wealth of expertise in developing and leading high-performing teams. During Pam's tenure at NetApp, her strategic guidance has been
Shahin brings over 25 years of enterprise experience to drive NetApp's ability to scale in both business technology and operations initiatives NetApp® (NASDAQ:NTAP), the original intelligent data infrastructure company, today announced Gus Shahin as the company's Executive Vice President of Business Technology and Operations. Reporting to CEO George Kurian, Shahin will lead critical business operations providing a solid foundation for accelerating growth and fostering cross-functional execution across four key company pillars - Information Technology, Operations, Global Security, and Enterprise Process Excellence. Shahin joins NetApp from Flex, where he held varying leadership roles ove
NetApp® (NASDAQ:NTAP), the original intelligent data infrastructure company, today announced that its board of directors has nominated June Yang to stand for election as an independent director at its annual meeting of stockholders on September 11, 2024. Yang most recently served as Vice President, Cloud AI and Industry Solutions at Google Cloud (cloud computing services) from October 2021 until December 2023 where she was responsible for the portfolio of Google Cloud AI products and solutions, including Vertex AI, Contact Center AI and more. Previously at Google Cloud, she served as Vice President and General Manager, Compute and Machine Learning infrastructure from October 2019 until Oc
NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today announced that it strengthened its sales team to accelerate growth objectives and facilitate customer success by hiring Mike Sakalas as the company's Vice President of U.S. Enterprise Sales. Sakalas will report to NetApp's Senior Vice President of North America Sales, Riccardo Di Blasio. Sakalas will oversee the development and execution of NetApp's enterprise business in the United States, playing a pivotal role in defining and implementing the company's go-to-market strategy. Sakalas will partner closely with internal teams and NetApp partners to drive strategic customer engagements as NetApp expands its offerings a
NetApp expands relationship with Porsche Motorsport to provide holistic data solutions that boost performance on the track NetApp® (NASDAQ:NTAP), the intelligent data infrastructure company, today announced that it has expanded its relationship with Porsche Motorsport to become the exclusive Intelligent Data Infrastructure partner, accelerating access to Porsche Motorsport's data to drive strategic decision-making on the track. This expansion also creates a new relationship between NetApp and Team Porsche Penske Motorsport in the IMSA WeatherTech SportsCar Championship (IWSC) and World Endurance Championship (WEC), as well as continued support for the TAG Heuer Porsche Formula E Team. W
NetApp (NASDAQ:NTAP), the intelligent data infrastructure company, today announced Dallas Olson as the company's new Chief Commercial Officer, reporting to NetApp's President, César Cernuda. Olson brings over 25 years of experience building high-performance teams responsible for planning, operations, enablement, engagement, and go-to-market strategies. As NetApp's CCO, Olson will oversee sales strategy driving business growth in key areas including AI and Keystone through specialist teams, enhance market presence, optimize sales models, foster strategic partnerships, champion a customer-centric approach, and drive initiatives to maintain NetApp's position as a market leader primed for acc
A leader in Human Resources, Yockelson brings over 25 years of experience to drive a new chapter of NetApp's culture and growth globally NetApp (NASDAQ:NTAP), the intelligent data infrastructure company, today announced Alessandra Yockelson has joined the company as Chief Human Resources Officer, reporting to CEO, George Kurian. Alessandra will lead all aspects of people and organizational strategy, including talent development and growth, performance management, team engagement, recruiting, DEIB, and compensation and benefits. Alessandra joins NetApp from Pure Storage, where she served as Chief Human Resources Officer since August 2021 and led organizational change efforts that resulted
A leader in AI and ML, Di Blasio brings over 25 years of enterprise sales experience to drive NetApp's revenue growth in North America NetApp (NASDAQ:NTAP), the intelligent data infrastructure company, today announced Riccardo Di Blasio as the company's new Senior Vice President of North America Sales. Di Blasio brings over 25 years of experience building high-performance sales teams and leading business transformation for companies in the software, data protection and security industries. He most recently served as the Chief Revenue Officer at Commvault, a leading provider of cyber resilience and data protection solutions for hybrid cloud organizations. As the SVP of North America Sale
NetApp (NASDAQ:NTAP), a global, cloud-led, data-centric software company, today announced that Anders Gustafsson, executive chair of Zebra Technologies, has joined its Board of Directors. This brings the number of directors on the NetApp Board of Directors to ten, nine of whom are independent and 30% of whom have been appointed within the last five years. "I am pleased to welcome Anders to our Board," said George Kurian, chief executive officer of NetApp. "His strong leadership experience driving business transformation in the digital era, combined with deep experience in technology and strategic planning, will benefit NetApp as we accelerate our innovation agenda and capture new growth."
Cloud Industry Veteran to Lead Company's Rapidly Growing, Highly Strategic Business Unit NetApp® (NASDAQ:NTAP), a global, cloud-led, data-centric software company, today welcomed Haiyan Song as the new Executive Vice President and General Manager of its Cloud Operations (CloudOps) Business. Song brings with her a wealth of industry experience and expertise, having most recently served as Executive Vice President and General Manager, Security and Distributed Cloud at F5. In her new role, Song will serve as a key member of the executive leadership team and report directly to NetApp CEO George Kurian. Song will be responsible for leading NetApp's CloudOps business, which delivers innovativ