{"id":49414,"date":"2023-08-17T01:03:21","date_gmt":"2023-08-17T05:03:21","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/netapp-pure-storage-added-to-evercores-tactical-outperform-list\/"},"modified":"2023-08-17T01:03:23","modified_gmt":"2023-08-17T05:03:23","slug":"netapp-pure-storage-added-to-evercores-tactical-outperform-list","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=49414","title":{"rendered":"NetApp & Pure Storage added to Evercore\u2019s Tactical Outperform list"},"content":{"rendered":"
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\u00a9 Reuters. NetApp & Pure Storage added to Evercore\u2019s Tactical Outperform list<\/span>
\n<\/i>\n<\/div>\n

Evercore ISI added NetApp Inc (NASDAQ:) and Pure Storage Inc <\/span><\/span> (NYSE:) to its Tactical Outperform list, ahead of the companies\u2019 upcoming quarterly earnings reports.<\/p>\n

Evercore ISI reiterated its In-Line rating and $80.00 price target on NetApp, expecting the company to beat the Street estimates for Q1 on Aug 23.<\/p>\n

\u201cIntra-quarter enterprise and storage data points make us slightly more constructive on the broader storage spend environment. Though the macro environment continues to be challenging and NTAP has struggled vs. peers in the past with customer spend optimization \u2013 we think cloud optimization and better federal trends should bode positively for NTAP,\u201d mentioned Evercore.<\/p>\n

The firm anticipates in-line to modest upside for revenues and no change to the full 2024-year guidance, though there’s potential for a more constructive tone.<\/p>\n

The firm still holds a positive view of NetApp’s commitment to defend margins and earnings through cost initiatives. However, the focus will be on the Cloud ARR guide, considering the difficulties faced in fiscal 2023.<\/p>\n

Evercore ISI reiterated an Outperform rating and $42.00 price target on Pure Storage. The company is set to report its Q2 results on Aug 30.<\/p>\n

\u201cWe think Pure is positioned to at minimum meet if not exceed Street expectations ($682M\/28c) we think the bias is higher given positive intra-quarter data points. Our checks continue to point to a relatively stable enterprise demand environment and federal sector holding up rather well,\u201d mentioned Evercore.<\/p>\n

\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. NetApp & Pure Storage added to Evercore\u2019s Tactical Outperform list Evercore ISI added NetApp Inc (NASDAQ:) and Pure Storage Inc (NYSE:) to its Tactical Outperform list, ahead of the companies\u2019 upcoming quarterly earnings reports. Evercore ISI reiterated its In-Line rating and $80.00 price target on NetApp, expecting the company to beat the Street […]<\/p>\n","protected":false},"author":1,"featured_media":2609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-49414","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nNetApp & Pure Storage added to Evercore\u2019s Tactical Outperform list | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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