NETAPP INC (NTAP)

EARNINGS RELEASE WEDNESDAY - AUGUST 14 (AMC)

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JUMP REPORT

Avg Daily Volume: 2,831,644    Market Cap: 11.18B 
Sector: Technology    Short Interest: 10.38

EARNINGS EXPECTATIONS:  

     THIS QTR:   EPS:   .61/share    REV:  1,240/M
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     LAST QTR:  EPS:    1.25/share     ACTUAL:   1.23/share  (MISS)
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     NEXT QTR:  EPS:   .90/share       REV: 1,360/M
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     FULL YR:     EPS:    3.98/share     REV: 5,690/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD:  79% OF THE TIME THEY BEAT ESTIMATES

PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) -13.39, -9.42, -13.78

POTENTIAL JUMP MOVE: 12%

Links To Latest News and Headlines

NetApp announces new serverless & storageless solution for containers, an autonomous hybrid cloud platform and virtual desktop solutions at INSIGHT.

NetApp Brings the Simplicity and Flexibility of the Cloud to the Data Center with Updated Software Data Services

Morgan Stanley hardware analyst Katy Huberty has turned bullish on the tech hardware companies, asserting that corporate demand for IT hardware is accelerating at a moment when the stocks in the group trade at a near-record discount to the S&P 500. Manufacturers of personal computers, servers, printers, and data storage devices have been largely left out of the 2020 tech rally, with investors more focused on riding the cloud software trend.

13 Oct, 2020 @ 13:38 by Yahoo! Finance

Upgrades * Benchmark upgraded the previous rating for Owens-Corning Inc (NYSE: OC) from Hold to Buy. In the second quarter, Owens-Corning showed an EPS of $0.88, compared to $1.31 from the year-ago quarter. The current stock performance of Owens-Corning shows a 52-week-high of 76.08 and a 52-week-low of 28.56. Moreover, at the end of the last trading period, the closing price was at $74.99. * According to Evercore ISI Group, the prior rating for Lear Corp (NYSE: LEA) was changed from Underperform to In-Line. Lear earned $4.14 in the second quarter, compared to $3.78 in the year-ago quarter. The stock has a 52-week-high of 143.5 and a 52-week-low of 63.2. At the end of the last trading period, Lear closed at $129.26. * According to Seaport Global, the prior rating for Gol Intelligent Airlines Inc (NYSE: GOL) was changed from Neutral to Buy. For the second quarter, Gol Intelligent Airlines had an EPS of $2.08, compared to year-ago quarter EPS of $0.13. At the moment, the stock has a 52-week-high of 19.36 and a 52-week-low of 1.85. Gol Intelligent Airlines closed at $7.13 at the end of the last trading period. * UBS upgraded the previous rating for Gates Industrial Corp PLC (NYSE: GTES) from Neutral to Buy. Gates Industrial Corp earned $0.03 in the second quarter, compared to $0.26 in the year-ago quarter. At the moment, the stock has a 52-week-high of 14.3 and a 52-week-low of 5.42. Gates Industrial Corp closed at $11.95 at the end of the last trading period. * According to B of A Securities, the prior rating for Foot Locker Inc (NYSE: FL) was changed from Underperform to Buy. For the second quarter, Foot Locker had an EPS of $0.71, compared to year-ago quarter EPS of $0.66. The current stock performance of Foot Locker shows a 52-week-high of 47.86 and a 52-week-low of 17.46. Moreover, at the end of the last trading period, the closing price was at $37.60. * According to Susquehanna, the prior rating for Cognizant Technology Solutions Corp (NASDAQ: CTSH) was changed from Neutral to Positive. Cognizant Tech Solns earned $0.82 in the second quarter, compared to $0.94 in the year-ago quarter. The stock has a 52-week-high of 74.92 and a 52-week-low of 40.01. At the end of the last trading period, Cognizant Tech Solns closed at $74.63. * According to Citigroup, the prior rating for The Carlyle Group Inc (NASDAQ: CG) was changed from Neutral to Buy. Carlyle Group earned $0.41 in the second quarter, compared to $1.23 in the year-ago quarter. At the moment, the stock has a 52-week-high of 34.98 and a 52-week-low of 15.21. Carlyle Group closed at $26.89 at the end of the last trading period. * According to BMO Capital, the prior rating for Marriott International Inc (NASDAQ: MAR) was changed from Underperform to Market Perform. Marriott Intl earned $0.64 in the second quarter, compared to $1.56 in the year-ago quarter. The current stock performance of Marriott Intl shows a 52-week-high of 153.39 and a 52-week-low of 46.5622. Moreover, at the end of the last trading period, the closing price was at $100.71. * BMO Capital upgraded the previous rating for Hilton Worldwide Holdings Inc (NYSE: HLT) from Underperform to Market Perform. In the second quarter, Hilton Worldwide Holdings showed an EPS of $0.61, compared to $1.06 from the year-ago quarter. The stock has a 52-week-high of 115.48 and a 52-week-low of 44.3. At the end of the last trading period, Hilton Worldwide Holdings closed at $91.40. * For Twilio Inc (NYSE: TWLO), Rosenblatt upgraded the previous rating of Neutral to the current rating Buy. In the second quarter, Twilio showed an EPS of $0.09, compared to $0.03 from the year-ago quarter. The stock has a 52-week-high of 332.0 and a 52-week-low of 68.0555. At the end of the last trading period, Twilio closed at $329.75. * According to Morgan Stanley, the prior rating for NetApp Inc (NASDAQ: NTAP) was changed from Underweight to Equal-Weight. For the first quarter, NetApp had an EPS of $0.73, compared to year-ago quarter EPS of $0.65. The stock has a 52-week-high of 65.38 and a 52-week-low of 34.66. At the end of the last trading period, NetApp closed at $46.65. * According to Susquehanna, the prior rating for Alaska Air Group Inc (NYSE: ALK) was changed from Neutral to Positive. In the second quarter, Alaska Air Group showed an EPS of $3.54, compared to $2.17 from the year-ago quarter. The stock has a 52-week-high of 72.22 and a 52-week-low of 20.02. At the end of the last trading period, Alaska Air Group closed at $38.40. * For CSX Corp (NASDAQ: CSX), Bernstein upgraded the previous rating of Market Perform to the current rating Outperform. In the second quarter, CSX showed an EPS of $0.65, compared to $1.08 from the year-ago quarter. The stock has a 52-week-high of 81.4 and a 52-week-low of 46.81. At the end of the last trading period, CSX closed at $79.56. * For Micron Technology Inc (NASDAQ: MU), Deutsche Bank upgraded the previous rating of Hold to the current rating Buy. Micron Technology earned $1.08 in the fourth quarter, compared to $0.56 in the year-ago quarter. At the moment, the stock has a 52-week-high of 61.19 and a 52-week-low of 31.13. Micron Technology closed at $50.68 at the end of the last trading period. * According to Goldman Sachs, the prior rating for Exxon Mobil Corp (NYSE: XOM) was changed from Sell to Neutral. For the second quarter, Exxon Mobil had an EPS of $0.70, compared to year-ago quarter EPS of $0.73. At the moment, the stock has a 52-week-high of 73.12 and a 52-week-low of 30.11. Exxon Mobil closed at $34.63 at the end of the last trading period. * According to Jefferies, the prior rating for Extra Space Storage Inc (NYSE: EXR) was changed from Hold to Buy. In the second quarter, Extra Space Storage showed an EPS of $1.23, compared to $1.22 from the year-ago quarter. At the moment, the stock has a 52-week-high of 116.52 and a 52-week-low of 72.7. Extra Space Storage closed at $113.82 at the end of the last trading period. Downgrades * Guggenheim downgraded the previous rating for Illumina Inc (NASDAQ: ILMN) from Buy to Neutral. For the second quarter, Illumina had an EPS of $0.62, compared to year-ago quarter EPS of $1.35. The current stock performance of Illumina shows a 52-week-high of 404.2 and a 52-week-low of 196.78. Moreover, at the end of the last trading period, the closing price was at $352.32. * Janney Capital downgraded the previous rating for American Water Works Co Inc (NYSE: AWK) from Buy to Neutral. For the second quarter, American Water Works Co had an EPS of $0.97, compared to year-ago quarter EPS of $0.94. The stock has a 52-week-high of 160.0 and a 52-week-low of 92.0. At the end of the last trading period, American Water Works Co closed at $158.25. * According to UBS, the prior rating for A.O. Smith Corp (NYSE: AOS) was changed from Buy to Neutral. In the second quarter, A.O. Smith showed an EPS of $0.45, compared to $0.61 from the year-ago quarter. At the moment, the stock has a 52-week-high of 58.05 and a 52-week-low of 33.805. A.O. Smith closed at $56.47 at the end of the last trading period. * For Activision Blizzard Inc (NASDAQ: ATVI), BMO Capital downgraded the previous rating of Outperform to the current rating Market Perform. For the second quarter, Activision Blizzard had an EPS of $0.97, compared to year-ago quarter EPS of $0.38. At the moment, the stock has a 52-week-high of 87.7265 and a 52-week-low of 50.51. Activision Blizzard closed at $81.06 at the end of the last trading period. * According to Susquehanna, the prior rating for American Airlines Group Inc (NASDAQ: AAL) was changed from Neutral to Negative. In the second quarter, American Airlines Group showed an EPS of $7.82, compared to $1.82 from the year-ago quarter. The current stock performance of American Airlines Group shows a 52-week-high of 31.67 and a 52-week-low of 8.25. Moreover, at the end of the last trading period, the closing price was at $12.92. * According to Bernstein, the prior rating for Beyond Meat Inc (NASDAQ: BYND) was changed from Market Perform to Underperform. Beyond Meat earned $0.02 in the second quarter, compared to $0.06 in the year-ago quarter. The current stock performance of Beyond Meat shows a 52-week-high of 197.5 and a 52-week-low of 48.18. Moreover, at the end of the last trading period, the closing price was at $192.30. * For AvalonBay Communities Inc (NYSE: AVB), Jefferies downgraded the previous rating of Buy to the current rating Hold. In the second quarter, AvalonBay Communities showed an EPS of $2.23, compared to $2.27 from the year-ago quarter. The stock has a 52-week-high of 229.4 and a 52-week-low of 118.17. At the end of the last trading period, AvalonBay Communities closed at $159.08. Initiations * With a current rating of Overweight, Morgan Stanley initiated coverage on Alliance Data Systems Corp (NYSE: ADS). The price target seems to have been set at $67.00 for Alliance Data Systems. Alliance Data Systems earned $1.86 in the second quarter, compared to $3.83 in the year-ago quarter. The stock has a 52-week-high of 125.78 and a 52-week-low of 20.51. At the end of the last trading period, Alliance Data Systems closed at $48.46. * With a current rating of Buy, Jefferies initiated coverage on Athira Pharma Inc (NASDAQ: ATHA). The price target seems to have been set at $30.00 for Athira Pharma. The stock has a 52-week-high of 20.4194 and a 52-week-low of 15.79. At the end of the last trading period, Athira Pharma closed at $17.09. * With a current rating of Hold, Jefferies initiated coverage on Lennox International Inc (NYSE: LII). The price target seems to have been set at $295.00 for Lennox International. In the second quarter, Lennox International showed an EPS of $2.97, compared to $3.74 from the year-ago quarter. At the moment, the stock has a 52-week-high of 289.96 and a 52-week-low of 163.395. Lennox International closed at $289.33 at the end of the last trading period. * For Republic Services Inc (NYSE: RSG), Morgan Stanley initiated coverage, by setting the current rating at Equal-Weight. In the second quarter, Republic Services showed an EPS of $0.81, compared to $0.79 from the year-ago quarter. The current stock performance of Republic Services shows a 52-week-high of 100.91 and a 52-week-low of 65.37. Moreover, at the end of the last trading period, the closing price was at $94.54. * With a current rating of Hold, Stifel initiated coverage on Unity Software Inc (NYSE: U). The price target seems to have been set at $80.00 for Unity Software. The stock has a 52-week-high of 102.63 and a 52-week-low of 65.11. At the end of the last trading period, Unity Software closed at $89.98. * For Unity Software Inc (NYSE: U), William Blair initiated coverage, by setting the current rating at Outperform. At the moment, the stock has a 52-week-high of 102.63 and a 52-week-low of 65.11. Unity Software closed at $89.98 at the end of the last trading period. * Goldman Sachs initiated coverage on Vitru Ltd (NASDAQ: VTRU) with a Buy rating. The current stock performance of Vitru shows a 52-week-high of 17.0 and a 52-week-low of 11.84. Moreover, at the end of the last trading period, the closing price was at $13.61. * BTIG initiated coverage on DiamondPeak Holdings Corp (NASDAQ: DPHC) with a Buy rating. The price target for DiamondPeak Hldgs is set to $50.00. DiamondPeak Hldgs earned $0.00 in the second quarter, compared to $0.01 in the year-ago quarter. At the moment, the stock has a 52-week-high of 31.8 and a 52-week-low of 9.5. DiamondPeak Hldgs closed at $25.19 at the end of the last trading period. * With a current rating of Buy, Jefferies initiated coverage on Carrier Global Corp (NYSE: CARR). The price target seems to have been set at $43.00 for Carrier Global. In the second quarter, Carrier Global earned $0.33. The current stock performance of Carrier Global shows a 52-week-high of 33.16 and a 52-week-low of 12.26. Moreover, at the end of the last trading period, the closing price was at $33.00. * Goldman Sachs initiated coverage on Athira Pharma Inc (NASDAQ: ATHA) with a Buy rating. The price target for Athira Pharma is set to $53.00. At the moment, the stock has a 52-week-high of 20.4194 and a 52-week-low of 15.79. Athira Pharma closed at $17.09 at the end of the last trading period. * Goldman Sachs initiated coverage on Unity Software Inc (NYSE: U) with a Buy rating. The price target for Unity Software is set to $100.00. The current stock performance of Unity Software shows a 52-week-high of 102.63 and a 52-week-low of 65.11. Moreover, at the end of the last trading period, the closing price was at $89.98.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * Delta Air Lines: Q3 Earnings Insights * 11 Healthcare Stocks Moving In Tuesday’s Pre-Market Session(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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