Data storage and networking company
NetApp (NTAP) is set to report quarterly earnings after the market close Wednesday, during a time of market transition.
X The consensus estimate is for NetApp to report revenue of $1.5 billion, up 7% from the year-ago period. The consensus estimate on adjusted earnings is 91 cents per share, up 11%, for its fiscal third quarter.
RBC Capital Markets analyst Amit Daryanani in a research note Monday maintained a sector perform rating on NetApp and price target of 60.
NetApp shares added 1.8% to close at 58.74 on the stock market today.
IBD'S TAKE: NetApp is fighting to regain its 50-day moving average but holds an IBD Composite Rating of 95 out of a possible 99, and a Relative Strength Rating of 93. Check out IBD's >Tech Leaders feature to get a broad idea on top tech stocks.
NetApp beat analyst estimates on the top and bottom lines, as did its outlook, when it reported its fiscal Q2 results three months ago.
NetApp is a leading provider of data-storage networking and management solutions. The company has undergone a product transition as industry trends move to chip-based flash storage, cloud computing and newer forms of networking.