Is NetApp a good stock to buy? NetApp Inc. (NASDAQ:NTAP), formerly Network Appliance, Inc., is an American computer storage and data management company headquartered in Sunnyvale, California. Discussing NetApp Inc. (NASDAQ:NTAP) stocks in a program on Fox Business, FBN’s Charles Payne said that despite of all the low earnings and volatility, NetApp Inc. (NASDAQ:NTAP) is still a buy.
“NetApp Inc. (NASDAQ:NTAP) focuses on moving data across the Cloud right they also deploy flat storage, they help grow mid-sized businesses, really is their sweet spot, protect, recover data also defend software. Now the past year business stalled somewhere impart because customers, well, there were spending restraints there, also this production cycle has got a little longer, lingering a little bit longer, but all of that, to me appears to be changing now,” said Payne.
He said that the management of NetApp Inc. (NASDAQ:NTAP) is focusing on Hybrid Cloud and enterprise systems and this move can elevate company growth because there is a lot of potential in hybrid Cloud infrastructure. Payne predicted that storage utilization will improve up to 200%. He said that although the company could not make much earnings in recent quarters, they were still able to show some improvements in their margins.
Belpointe Chief Strategist, David Nelson, said that NetApp Inc. (NASDAQ:NTAP) is a buy only if the company’s revenue growth increases, but there are less chances for that. Nelson wasn’t too bullish on this stock and said that there isn’t much potential in this stock and the risk level is high.
According to Penn Financial Group founder, Matt McCall, NetApp Inc. (NASDAQ:NTAP) is facing some trouble because of big competitors in the Cloud sector like VMware, Inc. (NYSE:VMW), International Business Machines Corp. (NYSE:IBM) and other major companies. He said that the figures and earnings of NetApp are not much positive to make it a buy.
Retail analyst, Hitha Prabhakar, said that OEM storage business of NetApp Inc. (NASDAQ:NTAP) is not working great and the company is facing some problems in tackling the huge growth of cloud platforms in the industry.
Billionaires Israel Englander, Howard Marks, and Ray Dalio were among NTAP shareholders at the end of the first quarter.
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