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NetApp

NetApp Inc is a provider of enterprise data management and storage solutions. The company's segments include Hybrid Cloud and Public Cloud. It generates maximum revenue from the Hybrid Cloud segment. The Hybrid Cloud segment offers a portfolio of storage management and infrastructure solutions that help customers recast their traditional data centers with the power of cloud. This portfolio is designed to operate with public clouds to unlock the potential of hybrid, multi-cloud operations. Hybrid Cloud is composed of software, hardware, and related support, as well as professional and other services.

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Insiders de Nvidia, Lantronix, Janus Henderson y NetApp realizan ventas de acciones significativas. Vemos qué implican para los inversores.

Nvidia, NetApp y otras 2 acciones que los ejecutivos están vendiendo

NetApp Inc

<a href="https://www.bloomberg.com/news/articles/2025-01-15/netapp-selling-some-software-assets-to-thoma-bravo-s-flexera?utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;cmpid=socialflow-twitter-business&amp;utm_campaign=socialflow-organic&amp;sref=ZoyErlU1" title="https://www.bloomberg.com/news/articles/2025-01-15/netapp-selling-some-software-assets-to-thoma-bravo-s-flexera?utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;cmpid=socialflow-twitter-business&amp;utm_campaign=socialflow-organic&amp;sref=ZoyErlU1">https://www.bloomberg.com/news/articles/2025-01-15/netapp-selling-some-software-assets-to-thoma-bravo-s-flexera?utm_medium=social&amp;utm_source=twitter&amp;utm_content=business&amp;cmpid=socialflow-twitter-business&amp;utm_campaign=socialflow-organic&amp;sref=ZoyErlU1</a>

Asset Sales

Bloomberg Reported NetApp Selling Some Software Assets to Thoma Bravo's Flexera For ~$100M

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Shares of companies within the broader tech sector are trading lower amid overall market weakness following the Fed's rate decision to cut rates by 25 basis points.

Morgan Stanley analyst Meta Marshall maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Equal-Weight and raises the price target from $132 to $146.

Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on NetApp, Raises Price Target to $146

NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) has been analyzed by 9 analysts in the last three months, revealing a diverse range of perspectives from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">2</td>
<td align="right">1</td>
<td align="right">5</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">5</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $138.33, with a high estimate of $160.00 and a low estimate of $120.00. This current average has increased by 8.6% from the previous average price target of $127.38. 
<img src="https://www.benzinga.com/files/images/story/2024/1734375639_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive NetApp. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Samik Chatterjee</td>
<td>JP Morgan</td>
<td>Announces</td>
<td>Overweight</td>
<td>$160.00</td>
<td>-</td>
</tr>
<tr>
<td>Asiya Merchant</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$135.00</td>
<td>$130.00</td>
</tr>
<tr>
<td>Karl Ackerman</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$160.00</td>
<td>$145.00</td>
</tr>
<tr>
<td>Matthew Sheerin</td>
<td>Stifel</td>
<td>Raises</td>
<td>Buy</td>
<td>$145.00</td>
<td>$140.00</td>
</tr>
<tr>
<td>Aaron Rakers</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$140.00</td>
<td>$135.00</td>
</tr>
<tr>
<td>Tim Long</td>
<td>Barclays</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$132.00</td>
<td>$119.00</td>
</tr>
<tr>
<td>Meta Marshall</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$132.00</td>
<td>$127.00</td>
</tr>
<tr>
<td>Nehal Chokshi</td>
<td>Northland Capital Markets</td>
<td>Raises</td>
<td>Market Perform</td>
<td>$120.00</td>
<td>$108.00</td>
</tr>
<tr>
<td>Wamsi Mohan</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Underperform</td>
<td>$121.00</td>
<td>$115.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to NetApp. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of NetApp compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of NetApp's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
To gain a panoramic view of NetApp's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/NTAP/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on NetApp analyst ratings.</a>
<h2>Discovering NetApp: A Closer Look</h2>
NetApp Inc is a provider of enterprise data management and storage solutions. The company's segments include Hybrid Cloud and Public Cloud. It generates maximum revenue from the Hybrid Cloud segment. The Hybrid Cloud segment offers a portfolio of storage management and infrastructure solutions that help customers recast their traditional data centers with the power of cloud. This portfolio is designed to operate with public clouds to unlock the potential of hybrid, multi-cloud operations. Hybrid Cloud is composed of software, hardware, and related support, as well as professional and other services.
<h3>NetApp: Delving into Financials</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: NetApp's remarkable performance in 3 months is evident. As of 31 October, 2024, the company achieved an impressive revenue growth rate of 6.15%. This signifies a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Net Margin: NetApp's net margin excels beyond industry benchmarks, reaching 18.03%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): NetApp's ROE stands out, surpassing industry averages. With an impressive ROE of 32.84%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): NetApp's ROA stands out, surpassing industry averages. With an impressive ROA of 3.27%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: NetApp's debt-to-equity ratio surpasses industry norms, standing at 2.52. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Analyst Ratings: What Are They?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Outlook: NetApp Through The Eyes Of 9 Analysts

<a href="https://www.benzinga.com/24/11/42145521/netapp-analysts-raise-their-forecasts-after-strong-earnings">JPMorgan analyst Samik Chatterjee</a> upgraded the rating for NetApp Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) from Neutral to Overweight, while raising the price target from $150 to $160.
The company's revenue growth is likely to accelerate, driven by higher IT budgets for data centers and storage infrastructure of Enterprises looking to leverage AI use cases, according to JPMorgan.
The NetApp Thesis: Apart from higher enterprise spending, the company is also poised to benefit from its continued share gains from the recent pace of innovation, Chatterjee said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
"In addition to recent expansion in product portfolio via addition of C-series products, we expect more launches in relation to C-series products, Block storage (ASA products) as well as products based on disaggregated architecture, which will further enhance the already robust product portfolio and drive growth," the analyst wrote.
In late November, NetApp reported <a href="https://www.benzinga.com/24/11/42145521/netapp-analysts-raise-their-forecasts-after-strong-earnings">better-than-expected quarterly results</a>.
The company's revenue growth could accelerate closer to the mid-point or higher-end of the company's latest guidance range, Chatterjee added.
"With resilient gross margins and operating leverage, we expect the modest revenue growth acceleration to be sufficient in relation to driving more material upsides to earnings estimates," Chatterjee further stated.
NTAP Price Action: Shares of NetApphad risen by 2.41% to $124.90 at the time of publication on Monday.
Read More: 
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<li><a href="https://www.benzinga.com/content/42459200/2-ai-stocks-that-gap-and-crapped-for-a-dip-buying-opportunity">2 AI Stocks That Gap and Crapped for a Dip Buying Opportunity</a></li>
</ul>
Image: Shutterstock

Analyst Color

Long Ideas

Upgrades

NetApp Is Poised For Revenue Growth Acceleration With AI Spending: Analyst

NetApp shares are trading higher after JP Morgan upgraded the stock from Neutral to Overweight.

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>B of A Securities analyst Andrew Obin upgraded the rating for AMETEK, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AME#NYSE">AME</a>) from Neutral to Buy and raised the price target from $195 to $225. AMETEK shares closed at $187.38 on Friday. See how other analysts view this stock.</li>
<li>JP Morgan analyst Samik Chatterjee upgraded NetApp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) from Neutral to Overweight and announced a $160 price target. NetApp shares closed at $121.95 on Friday. <a href="https://www.benzinga.com/quote/NTAP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Gordon Haskett analyst Chuck Grom upgraded the rating for Macy&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/M#NYSE">M</a>) from Hold to Buy and announced a $20 price target. Macy&#8217;s shares closed at $16.56 on Friday. See how other analysts view this stock.</li>
<li>Mizuho analyst Nitin Kumar upgraded ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) from Neutral to Outperform and boosted the price target from $132 to $134. ConocoPhillips shares closed at $101.02 on Friday. <a href="https://www.benzinga.com/quote/COP/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Exane BNP Paribas analyst Andy Grobler upgraded the rating for Equifax Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EFX#NYSE">EFX</a>) from Neutral to Outperform and announced a $305 price target. Equifax shares closed at $265.81 on Friday. <a href="https://www.benzinga.com/quote/EFX/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying COP stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="582" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16070350/image-122-1024x582.png" alt="" class="wp-image-693623" style="width:616px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16070350/image-122-1024x582.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16070350/image-122-300x170.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16070350/image-122-768x436.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/12/16070350/image-122.png 1132w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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</ul>

This ConocoPhillips Analyst Turns Bullish; Here Are Top 5 Upgrades For Monday

JP Morgan analyst Samik Chatterjee upgrades NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) from Neutral to Overweight and announces $160 price target.

JP Morgan Upgrades NetApp to Overweight, Announces $160 Price Target

New integration simplifies the use of NetApp block storage with AWS Outposts

Reported Earlier, NetApp Partners With AWS Outposts To Streamline Block Storage For On-Premises And Edge Deployments

NetApp's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NYSE">NTAP</a>) short percent of float has risen 19.62% since its last report. The company recently reported that it has 8.89 million shares sold short, which is 5.67% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.18 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>NetApp Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732561223_0_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for NetApp has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing NetApp's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, NetApp's peer group average for short interest as a percentage of float is 6.85%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Peering Into NetApp's Recent Short Interest

NetApp, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) reported better-than-expected second-quarter results on Thursday.
NetApp reported quarterly earnings of $1.87 per share, which beat the analyst consensus estimate of $1.78. Quarterly revenue came in at $1.65 billion, which beat the analyst consensus estimate of $1.64 billion and is an increase over revenue of $1.56 billion from the same period last year.
"Our strong Q2 performance was driven by another record-breaking quarter in all-flash storage and strong performance in first party and marketplace cloud storage services," said George Kurian, CEO of NetApp. "Broad-based customer preference for our intelligent data infrastructure platform and visionary approach for a data-driven future has enabled us to outgrow the market and take share from competitors. Our focus and momentum fuel my confidence in our ability to deliver outstanding results for customers and shareholders."
The company said it sees FY25 revenue of $6.54 billion to $6.74 billion and GAAP earnings of $5.48 to $5.68 per share, with non-GAAP EPS of $7.20 to $7.40.
NetApp shares fell 3.3% to trade at $122.46 on Friday.
These analysts made changes to their price targets on NetApp following earnings announcement.
<ul>
<li>B of A Securities analyst Wamsi Mohan maintained NetApp with an Underperform and raised the price target from $115 to $121.</li>
<li>Northland Capital Markets analyst Nehal Chokshi maintained NetApp with a Market Perform and raised the price target from $108 to $120.</li>
<li>Morgan Stanley analyst Meta Marshall maintained NetApp with an Equal-Weight and raised the price target from $127 to $132.</li>
<li>Barclays analyst Tim Long maintained NetApp with an Equal-Weight and increased the price target from $119 to $132.</li>
<li>Wells Fargo analyst Aaron Rakers maintained NetApp with an Equal-Weight and raised the price target from $135 to $140.</li>
<li>Stifel analyst Matthew Sheerin maintained the stock with a Buy and raised the price target from $140 to $145.</li>
<li>TD Cowen analyst Karl Ackerman maintained NetApp with a Buy and raised the price target from $145 to $160.</li>
<li>Citigroup analyst Asiya Merchant maintained the stock with a Neutral and raised the price target from $130 to $135.</li>
</ul>
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</ul>

Earnings

NetApp Analysts Raise Their Forecasts After Strong Earnings

Risk appetite remained robust in the final trading session of the week, with all major U.S. indices poised to close the week in positive territory. Small-cap stocks outperformed their large-cap counterparts, continuing their <a href="https://www.benzinga.com/news/small-cap">recent streak of dominance</a>.
Fresh business surveys highlighted a notable health in the U.S. economy, with private sector activity recording its strongest expansion in over two and a half years. The services sector, in particular, showed remarkable growth, maintaining its rapid pace of expansion.
The Russell 2000, a benchmark for small-cap equities, surged 1.7% on Friday, building on a 1.5% gain from the previous session. The S&amp;P 500 edged higher, heading for a five-day winning streak, and the Dow Jones Industrial Average climbed past the 44,000 mark, moving tantalizingly close to record highs. Technology stocks posted more modest gains.
The U.S. Dollar Index, tracked via the Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), extended its rally for an eighth consecutive week—the longest streak in 14 months—surpassing the 107 level to hit a two-year high. The dollar's strength was fueled by a mix of robust U.S. economic data <a href="https://www.benzinga.com/news/econ-s/24/11/42138717/dollar-hits-2-year-highs-as-europes-recession-signals-spark-euro-pound-sell-offs">and economic malaise in Europe.</a>
In commodities, gold climbed for a fifth straight session, advancing 5.6% for the week, its best weekly performance since March 2023.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) also maintained its bullish momentum, soaring past $99,000 and edging closer to the highly anticipated $100,000 milestone. 
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,401.00</td>
<td>1.7%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>44,211.20</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,969.01</td>
<td>0.4%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,768.99</td>
<td>0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 1:05 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent111924&amp;t=be2bearmibe3na1">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.4% to $595.75.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;rose 0.8% to $442.49.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) inched 0.2% up to $506.20.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) rallied 1.8% to $238.61.</li>
<li>The&nbsp;Consumer Discretionary Sector Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) outperformed, rising 1.6%. The&nbsp;Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) lagged, down 0.1%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Intuit Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTU#NASDAQ">INTU</a>) fell 4.4% in reaction to quarterly earnings. </li>
<li>Other stocks reacting to earnings reports were Copart Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CPRT#NASDAQ">CPRT</a>), up 9.8%, Ross Stores Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROSS#NASDAQ">ROSS</a>), up 3.1%, and NetApp Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>), down 2.7%. </li>
</ul>
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Citigroup analyst Asiya Merchant maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Neutral and raises the price target from $130 to $135.

Citigroup Maintains Neutral on NetApp, Raises Price Target to $135

TD Cowen analyst Karl Ackerman maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Buy and raises the price target from $145 to $160.

TD Cowen Maintains Buy on NetApp, Raises Price Target to $160

Stifel analyst Matthew Sheerin maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Buy and raises the price target from $140 to $145.

Stifel Maintains Buy on NetApp, Raises Price Target to $145

Wells Fargo analyst Aaron Rakers maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Equal-Weight and raises the price target from $135 to $140.

Wells Fargo Maintains Equal-Weight on NetApp, Raises Price Target to $140

Barclays analyst Tim Long maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Equal-Weight and raises the price target from $119 to $132.

Barclays Maintains Equal-Weight on NetApp, Raises Price Target to $132

Morgan Stanley analyst Meta Marshall maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Equal-Weight and raises the price target from $127 to $132.

Morgan Stanley Maintains Equal-Weight on NetApp, Raises Price Target to $132

General

NetApp shares are trading higher following better-than-expected Q2 financial results. Also, multiple firms raised their respective price targets on the stock.

Northland Capital Markets analyst Nehal Chokshi maintains NetApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTAP#NASDAQ">NTAP</a>) with a Market Perform and raises the price target from $108 to $120.

Northland Capital Markets Maintains Market Perform on NetApp, Raises Price Target to $120

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From fueling AI advancements to revolutionizing cutting-edge consumer electronics, tech hardware stocks are at the core of digital transformation. Thus, it might be wise for investors to consider quality tech hardware stocks, such as Apple (AAPL), NetApp (NTAP), and HP (HPQ). Continue reading… Tech hardware stocks are at the forefront of innovation, driving advancements in computing, communication, and consumer electronics. The companies in this sector are benefiting from the rapid adoption of technologies like Artificial Intelligence (AI), 5G, and the Internet of Things (IoT).
Given this backdrop, it could be wise for investors to look into fundamentally strong tech hardware stocks Apple Inc. (<a href="https://stocknews.com/stock/AAPL/">AAPL</a>), NetApp, Inc. (<a href="https://stocknews.com/stock/NTAP/">NTAP</a>), and HP Inc. (<a href="https://stocknews.com/stock/HPQ/">HPQ</a>) for potential gain.
Consumer electronics manufacturers are thriving as they integrate advanced technologies into their products. Advancements in digital and electronics technologies now <a href="https://www.globenewswire.com/news-release/2024/10/02/2956742/28124/en/AI-and-Electronics-Technologies-Transforming-the-Consumer-Electronics-Industry-Empowering-Consumer-Devices-with-Instant-Processing-and-Enhanced-Privacy-at-the-Edge.html">focus on sustainability issues and improve functionality</a>, user experiences, connectivity, integration, miniaturization, and advanced sensors.
Companies are meeting growing consumer demand for connected and intelligent gadgets, from smart home devices to wearable tech. Moreover, the global electronics components market is projected to reach $368.40 billion by 2032, <a href="https://www.precedenceresearch.com/electronic-components-market">growing at a CAGR of 6.8%</a>.
Further, the global IT hardware market is anticipated <a href="https://www.mordorintelligence.com/industry-reports/global-it-hardware-market">to reach $191.03 billion by 2029</a>, exhibiting a CAGR of 7.9%. The tech hardware sector is well-positioned to capitalize on long-term trends such as digital transformation and automation.
Considering these conducive trends, let's examine the fundamentals of the three best <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> stocks, starting with the third choice.
Stock #3: Apple Inc. (<a href="https://stocknews.com/stock/AAPL/">AAPL</a>)
AAPL designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company's product offerings include iPhones, Macs, iPads, AirPods, Apple Watch, Apple TV, Beats products, and HomePod. It also provides DarwinAI, which specializes in visual quality inspection through its Explainable AI platform.
On December 8, AAPL announced the expansion of its retail in the Kingdom of Saudi Arabia. The launch of the Apple Store online will begin in the summer of 2025, followed by the opening of the first of several flagship Apple Store locations starting in 2026. This expansion should help the company expand its global footprint in Saudi Arabia.
On October 30, AAPL announced the launch of M4 Pro and M4 Max, two new chips that bring more power-efficient performance and advanced capabilities to the Mac. This new launch will help the company strengthen its position as an industry giant and enhance its growth prospects further.
AAPL's total <a href="https://www.investopedia.com/terms/n/netsales.asp">net sales</a> for the fourth quarter (ended September 28, 2024) increased 6.1% year-over-year to $94.93 billion. The company reported a gross margin of $43.88 billion, indicating an 8.5% growth from the prior year quarter. AAPL's net income came in at $14.74 billion, and its earnings per share stood at $0.97.
The consensus revenue estimate of $124.41 billion for the fiscal first quarter (ending December 2024) represents a 4% increase year-over-year. The consensus EPS estimate of $2.36 for the same quarter indicates an 8.1% improvement year-over-year. The company has an excellent surprise history; it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters.
Over the past nine months, the stock has surged 47.5%, closing the last trading session at $255.59.
AAPL's stance is apparent in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an A grade for Quality and a B for Momentum. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
Among the 41 stocks in the <a href="https://stocknews.com/category/technology-hardware/">Technology - Hardware</a> industry, it is ranked #19. <a href="https://stocknews.com/stock/AAPL/">Click here</a> to see the additional AAPL ratings (Growth, Value, Stability, and Sentiment).
Stock #2: NetApp, Inc. (<a href="https://stocknews.com/stock/NTAP/">NTAP</a>)
NTAP is an intelligent data infrastructure company that provides a range of enterprise software, systems, and services that customers use to transform their data infrastructures in the United States, Canada, Latin America, Europe, the Middle East, Africa, and the Asia Pacific. The company operates in two segments: Hybrid Cloud and Public Cloud.
On December 1, NTAP announced NetApp on-premises enterprise storage arrays for AWS Outposts, a new integrated solution. This integrated solution will allow AWS Outposts customers to simplify, optimize cloud deployments on-premises, and increase resiliency for hybrid cloud deployments by combining NetApp's unified data storage and intelligent services.
On November 11, NTAP announced the expansion of its collaboration with Red Hat, Inc., the world's leading provider of open-source solutions, to offer new solutions and to streamline and deliver increased flexibility in enterprise application development management in virtual environments. 
In this collaboration, NTAP's intelligent data infrastructure combined with Red Hat OpenShift will simplify and make it faster for customers to adopt and manage their virtualized environments with mobility and security.
For the fiscal 2025 second quarter that ended on October 25, 2024, NTAP's net revenues increased 6.1% year-over-year to $1.66 billion. The company's gross profit came in at $1.18 billion, reflecting an increase of 6% from the prior-year quarter.
Its non-GAAP income from operations grew 13.4% from the same period last year to $475 million. In addition, its non-GAAP net income amounted to $493 million and $1.87 per share, reflecting increases of 16% and 18.4% year-over-year, respectively.
Street expects NTAP's revenue for the fiscal fourth quarter (ending April 2025) to increase 5.5% year-over-year to $1.76 billion. Moreover, its EPS estimate of $1.99 for the same period indicates a 10.4% year-over-year growth. In addition, it surpassed the consensus revenue and EPS estimates in each of the trailing four quarters, which is impressive.
NTAP shares have surged 32% over the past year and 11.2% over the past nine months to close the last trading session at $116.96.
NTAP's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
It also has an A grade for Quality and a B for Momentum. Within the Technology - Hardware industry, it is ranked #14. <a href="https://stocknews.com/stock/NTAP/">Click here</a> to see NTAP's ratings for Growth, Value, Stability, and Sentiment.
Stock #1: HP Inc. (<a href="https://stocknews.com/stock/HPQ/">HPQ</a>)
HPQ is a global provider of personal computing and other digital access devices, imaging and printing products, and related technologies, solutions, and services. The company operates through three segments: Personal Systems; Printing; and Corporate Investments. 
On September 25, HPQ announced the completion of its acquisition of Vyopta, an Austin-based provider of collaboration management solutions. This acquisition brings HPQ, Vyopta's extensive expertise and infrastructure, to turbocharge the development of HP's Workforce Experience Platform. It will also help accelerate and expand HPQ's capabilities, including space and application management.
During the fourth quarter of 2024, which ended on October 31, HPQ's total net revenue increased marginally year-over-year to $14.10 billion. Its net income amounted to $906 million. Also, the company's non-GAAP EPS for the quarter rose 3.3% from the year-ago value to $0.93.
Analysts expect HPQ's revenue for the second quarter (ending April 2025) to increase marginally year-over-year to $13.05 billion, while its EPS for the same period is expected to grow 4.2% from the prior year to $0.85. Moreover, it topped Street revenue estimates in three of the trailing four quarters, which is promising.
The stock has gained 10.5% over the past nine months to close the last trading session at $33.28.
It's no surprise that HPQ has an overall rating of B, equating to a Buy in our POWR Ratings system. It has a B grade for Value, Momentum, and Quality. Out of 41 stocks in the same industry, HPQ is ranked #7.
Beyond what is stated above, we've also rated HPQ for Growth, Stability, and Sentiment. Get all HPQ ratings <a href="https://stocknews.com/stock/HPQ/">here</a>.
What To Do Next?
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<hr />
AAPL shares were trading at $253.21 per share on Monday afternoon, down $2.38 (-0.93%). Year-to-date, AAPL has gained 32.16%, versus a 25.87% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: ShreyaRathi</h2> <img src='https:/wp-content/uploads/2024/10/0.jpeg' style="float:left; padding:5px;width:125px;"><a href="https://stocknews.com/authors/?author=shreya-rathi">More...</a>The post <a href=https://stocknews.com/news/aapl-hpq-ntap-3-tech-hardware-stocks-driving-innovation/>3 Tech Hardware Stocks Driving Innovation</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Tech Hardware Stocks Driving Innovation

In a regulatory filing, NetApp (NTAP) president Cesar Cernuda disclosed the sale of 22,000 common shares of the company on December 30 at a price o...

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Press Releases

NetApp Elevates Pamela Hennard to Chief Diversity and Inclusion Officer, Accelerating its Vision for a More Inclusive Future

NetApp Hosts Second Quarter of Fiscal Year 2025 Financial Results Webcast

NetApp Collaborates with Red Hat to Deliver Increased Flexibility for Virtualized Environments

New NetApp Storage Offerings Modernize Workloads for Businesses of All Sizes

NetApp Reports Second Quarter of Fiscal Year 2025 Results

NetApp to Participate in Upcoming Technology Conferences

NetApp Announces Integrated Solution with AWS Outposts for Hybrid Cloud Deployments

New Research from NetApp Finds One in Five Companies Unable to Recover Data After Cyberattack

NetApp's 2024 Data Complexity Report Reveals AI's Make or Break Year Ahead

Flexera to Acquire FinOps Business from NetApp, Inc. to Strengthen FinOps Portfolio

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