Seeking Alpha
Profile| Send Message|
( followers)  

NetApp, Inc. (NASDAQ:NTAP) is scheduled to report its Q1 2013 results on August 15, 2012, after the bell. The street expects EPS and revenue of $0.38 and $1.46B, respectively.

In this article I will recap the historical results of the company, its latest EPS estimates vs. surprises, the latest news from NTAP and the news from its closest competitors.

NetApp, Inc. Revenue and Net Income History

Recent EPS Actuals vs. Estimates

In the last four quarters the company has met or beaten analysts' estimates. In the last quarter it reported $0.66 EPS, beating analyst estimates of $0.63.

NetApp, Inc. EPS Historical Results vs Estimates

The consensus EPS estimate is $0.38 based on 32 analysts' estimates, down from $0.55 a year ago. Revenue estimates are $1.46B, same as a year ago. The median target price by analysts for the stock is $37.00.

Average recommendation: Overweight

Source: Marketwatch

Analyst Upgrades and Downgrades

  • On August 6, 2012, UBS initiated Buy rating for the company.
  • On June 10, 2012, Cantor Fitzgerald upgraded the company from Hold to Buy.
  • On June 7, 2012, Barclays downgraded the company from Overweight to Equal Weight.
  • On May 24, 2012, Stifel Nicolaus reiterated Buy rating for the company.
  • On May 24, 2012, Needham reiterated Buy rating for the company.
  • On May 24, 2012, Argus downgraded the company from Buy to Hold.
  • On May 23, 2012, Brean Murray downgraded the company from Buy to Hold.
  • On April 13, 2012, Wunderlich reiterated Buy rating for the company.
  • On February 16, 2012, Brean Murray reiterated Buy rating for the company.
  • On February 16, 2012, Barclays Capital reiterated Overweight rating for the company.

Latest News

  • On May 23, 2012, NetApp Inc announced that for the first quarter of 2013, it expects revenue to be in the range of $1.40 billion to $1.50 billion, GAAP earnings per share (EPS) will be approximately $0.10 to $0.15 per share and non-GAAP earnings per share will be approximately $0.34 to $0.39 per share.
  • On February 15, 2012, NetApp Inc announced that for fourth quarter of 2012, it expects revenue to be in the range of $1.645-$1.725 billion, GAAP earnings per share to be approximately $0.38 to $0.43 per share and non-GAAP earnings per share to be approximately $0.60 to $0.65 per share.

Competitors

EMC Corporation (NYSE:EMC) is the major competitor for NetApp and the table below provides the key metrics for these companies and the industry.

NetApp, Inc. key ratio comparison with direct competitors

The chart below compares the stock price changes as a percentage for the selected companies and S&P 500 index for the last one year period.

NTAP Chart

NTAP data by YCharts

The chart below compares revenue development for the last 10 years for these companies.

NTAP Revenue TTM Chart

NTAP Revenue TTM data by YCharts

Technical Overview


The stock has a market capitalization of $12.12B and is currently trading at $32.98 with a 52 week range of $27.79 - $46.80. The stock's year-to-date performance has been -9.07%. It is currently trading above 20 and 50 SMA, but below 200 SMA.

Sources: Yahoo Finance, Google Finance, Marketwatch, Finviz, Reuters.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: Earnings Preview: NetApp