Shares of NetApp Inc. (NASDAQ:NTAP) have outshined the Zacks categorized Computer-Storage Devices industry over the last one year. NetApp’s shares hit in a return of 35.6% contrasted to 15.5% produced by the industry. The price faring of the Zacks Rank #1 (Strong Buy) stock is supported by robust forecast revisions. Its 2017 earnings forecasts were higher almost 17.9% over the past 60 days to $1.91 per share.
Given its growth on the fundamentals and a shiny Zacks Rank, the stock is possible to keep faring well in the quarters coming.
Actually, the firm is predicted to pick up pace in the flash-based solutions space, with the recently launched all-flash collection. They consider that the firm’s precious product releases and takeover of SolidFire would speed up the top line, while cost lowering plans would help in margin growths over the long term.
NetApp mentioned robust demand for Clustered ONTAP, which was arranged on 86% of FAS systems shipped in the Q2 of fiscal 2017, higher as compared to almost 70% in the year-earlier same quarter. Clustered ONTAP lets unified enterprise data management throughout flash, disk along with public and private cloud environments.
With Clustered ONTAP, enterprises can combine multiple workloads into a solitary repository, intensely enhancing the efficacy of their enterprise storage organization. The robust demand is authenticated by enhancing unit deliveries, which hiked 14% on annual basis.