- Atlantic Equities has downgraded NetApp (NASDAQ:NTAP) to Underweight ahead of the storage hardware/software vendor's Feb. 17 FQ3 report.
- Shares are down 3.3% premarket to $21.01, putting them close to a multi-year low of $20.66 (hit on Jan. 20). NetApp now trades for only 8.2x an FY17 (ends June '17) EPS consensus of $2.55.
- Two months ago: NetApp buying flash array vendor SolidFire for $870M in cash