Vanguard Group Inc., Corebridge Financial Inc., and many other financial institutions have amplified their investment in NetApp, Inc. (NTAP).
Frank Pelzer, known for his proficiency in AI and cloud storage, has been elected to the board of the storage and data management company. Contrarily, the corporation's shares experienced a
52-week low and encountered a
18% dip after a $1.64 billion revenue report. In cooperation with
Nvidia, NTAP plans to strengthen its AI data infrastructure. Financial firms like Commonwealth Equity Services LLC, Sei Investments Co., and TD Asset Management Inc., have cut their stakes in NTAP, citing concerns over the company's
sales misestimation. Nevertheless, several analysts perceive NTAP as undervalued. They emphasize NetApp's
AI and cloud growth potential, predicting a positive outlook for NTAP, despite a downgrade from Susquehanna and a price target reduction from Loop Capital due to postulations around AI demand. The organization saw a decrease in its shares after
divesting its FinOps business to Flexera, and after less-than-anticipated Q3 earnings and lowered guidance. Notwithstanding these challenges, the company remains dedicated to its AI innovations, with a range of products and collaborations boosting NetApp's prospects and investor attention.
Netapp NTAP News Analytics from Wed, 06 Nov 2024 08:00:00 GMT to Sun, 30 Mar 2025 01:06:53 GMT -
Rating 6
- Innovation 4
- Information 7
- Rumor -4
