<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="NetApp NTAP is slated to report third-quarter fiscal 2020 earnings on Feb 12.
For third-quarter fiscal 2020, NetApp anticipates net revenues in the range of $1.39-$1.54 billion. The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $1.46 billion, indicating a decline of 6.4% from the year-ago reported figure.
The company expects non-GAAP earnings for third-quarter fiscal 2020 between $1.14 and $1.22 per share. The Zacks Consensus Estimate for earnings has been steady at $1.19 cents in the past 30 days, suggesting a decline of 0.8% from the year-ago reported figure.
Notably, the company surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed one, with the average beat being 7.99%.” data-reactid=”11″>NetApp NTAP is slated to report third-quarter fiscal 2020 earnings on Feb 12.
For third-quarter fiscal 2020, NetApp anticipates net revenues in the range of $1.39-$1.54 billion. The Zacks Consensus Estimate for fiscal third-quarter revenues is pegged at $1.46 billion, indicating a decline of 6.4% from the year-ago reported figure.
The company expects non-GAAP earnings for third-quarter fiscal 2020 between $1.14 and $1.22 per share. The Zacks Consensus Estimate for earnings has been steady at $1.19 cents in the past 30 days, suggesting a decline of 0.8% from the year-ago reported figure.
Notably, the company surpassed the Zacks Consensus Estimate in three of the trailing four quarters and missed one, with the average beat being 7.99%.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="NetApp, Inc. Price and EPS Surprise” data-reactid=”12″>NetApp, Inc. Price and EPS Surprise
NetApp, Inc. price-eps-surprise | NetApp, Inc. Quote
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Factors Likely to Influence Q3 Results
Per management, broader weakness in macroeconomic environment has been compelling enterprises to trim capital expenditure, which is expected to have affected storage business in the to-be reported quarter.
For the fiscal third quarter, the Zacks Consensus Estimate for Product revenues and Hardware Maintenance & Other Services revenues is pegged at $883 million and $350 million, indicating a year-over-year decline of 11.3% and 5.9%, respectively.
Moreover, growing expenses on product development amid stiff competition from fellow storage peers including Pure Storage PSTG is likely to have limited margin expansion in the fiscal third quarter.
Nonetheless, NetApp’s fiscal third-quarter top line is likely to reflect improvement in adoption of hybrid multi-cloud offerings, cloud data services and private cloud offerings.
Notably, NetApp collaborated with Alphabet GOOGL owned Google’s Cloud services in the third quarter. The company announced availability of NetApp Cloud Volumes Service and NetApp Cloud Volumes ONTAP for Google Cloud to help enterprises accelerate workloads across hybrid cloud architecture.
Additionally, NetApp secured a three-year contract from the State of California Department of General Services (DGS). Per the terms of the contract, NetApp’s hybrid cloud infrastructure and data center modernization solutions will be delivered by Enterprise Networking Solutions, Inc.
Moreover, increased momentum of the company’s HCI (or hyper converged infrastructure) and new cloud partnerships with VMware VMW platforms in the fiscal second quarter are likely to have driven revenue run rate for Cloud Data and Private Cloud business in the to-be reported quarter.
Further, incremental adoption of NPS is expected to have bolstered Private cloud business revenue run rate in the fiscal third quarter. Notably, the metric came in at $300 million in the last reported quarter, up 30% on a year-over-year basis.
Zacks Rank
Currently, NetApp carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.7% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>” data-reactid=”25″>Factors Likely to Influence Q3 Results
Per management, broader weakness in macroeconomic environment has been compelling enterprises to trim capital expenditure, which is expected to have affected storage business in the to-be reported quarter.
For the fiscal third quarter, the Zacks Consensus Estimate for Product revenues and Hardware Maintenance & Other Services revenues is pegged at $883 million and $350 million, indicating a year-over-year decline of 11.3% and 5.9%, respectively.
Moreover, growing expenses on product development amid stiff competition from fellow storage peers including Pure Storage PSTG is likely to have limited margin expansion in the fiscal third quarter.
Nonetheless, NetApp’s fiscal third-quarter top line is likely to reflect improvement in adoption of hybrid multi-cloud offerings, cloud data services and private cloud offerings.
Notably, NetApp collaborated with Alphabet GOOGL owned Google’s Cloud services in the third quarter. The company announced availability of NetApp Cloud Volumes Service and NetApp Cloud Volumes ONTAP for Google Cloud to help enterprises accelerate workloads across hybrid cloud architecture.
Additionally, NetApp secured a three-year contract from the State of California Department of General Services (DGS). Per the terms of the contract, NetApp’s hybrid cloud infrastructure and data center modernization solutions will be delivered by Enterprise Networking Solutions, Inc.
Moreover, increased momentum of the company’s HCI (or hyper converged infrastructure) and new cloud partnerships with VMware VMW platforms in the fiscal second quarter are likely to have driven revenue run rate for Cloud Data and Private Cloud business in the to-be reported quarter.
Further, incremental adoption of NPS is expected to have bolstered Private cloud business revenue run rate in the fiscal third quarter. Notably, the metric came in at $300 million in the last reported quarter, up 30% on a year-over-year basis.
Zacks Rank
Currently, NetApp carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Just Released: Zacks’ 7 Best Stocks for Today
Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.7% per year.
These 7 were selected because of their superior potential for immediate breakout.
See these time-sensitive tickers now >>
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NetApp, Inc. (NTAP) : Free Stock Analysis Report
Pure Storage, Inc. (PSTG) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
VMware, Inc. (VMW) : Free Stock Analysis Report
To read this article on Zacks.com click here.” data-reactid=”26″>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NetApp, Inc. (NTAP) : Free Stock Analysis Report
Pure Storage, Inc. (PSTG) : Free Stock Analysis Report
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
VMware, Inc. (VMW) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Add Comment