NetApp (NASDAQ:NTAP) Recuperates On 2Q Results – NTAP, EMC, STX, BRCD, SNDK

Data storage firm NetApp Inc. (NASDAQ:NTAP) announced on Wednesday that its net income plunged 34% in the fiscal Q2 on a number of one-time charges. Its adjusted results still tops analysts’ anticipations and the firm’s shares surged in aftermarket trading.

Net income beat Wall Street predictions, if special items like amortization, interest, and stock-based compensation are excluded. The firm also declared that it will repurchase another $1.5B in stock and its estimate for the Q3 came out slightly ahead of anticipations.

NetApp shares increased 3% to close at $27.12 in the regular session Wednesday. They rose by $2.88, or 10.6%, to $30 in after-hours trading. As stock touch a three-year low range of $26.26 on Tuesday.

Analysts anticipated adjusted earnings of 48 cents a share and $1.54B in revenue, according to FactSet.

NetApp Inc. (NASDAQ:NTAP) stock hit highest price at $27.50, beginning with a price of $27.25 and reported increased 3.01% to the closed at $27.12 with day range of $26.87-$27.50. The total market capitalization remained $9.85 billion; total volume held in the session was 16.32 million shares surprisingly higher than its average volume of 6.83 million shares.

To check the Stocks ups and downs, NTAP last week stock price volatility remained 2.42% and month was at 2.46%. NTAP generated revenue of 6.22 billion in the following twelve months income of $529.70 million. The Company showed a positive 8.52% in the net profit margin and in addition to in its operating margin which remained 10.46%. Company’s annual sales growth for the past five year was 17.32%.

The NTAP past twelve months price to sales ratio was 1.58 and price to cash ratio remained 1.81. As far as if notice on other major contributors of similar sectors have sale ratio and price to cash ratio remained EMC Corporation (NYSE:EMC)’s P/S 2.32% P/C 9.05%, Seagate Technology PLC (NASDAQ:STX)’s P/S 0.64% P/C 4.27%, Brocade Communications Systems, Inc. (NASDAQ:BRCD)’s P/S 1.10% P/C 4.17%, SanDisk Corporation (NASDAQ:SNDK)’s P/S 1.89% P/C 3.71%.

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Published by Fiona Gibson

Fiona is a finance graduate and an expert in analyzing market trends.