SolidFire Acquisition Seen as Possibly 'Too Little, Too Late' for NetApp (NTAP)

Raymond James Maintains Market Perform on NetApp (NTAP) Following Announced SolidFire Acquisition

December 22, 2015 8:57 AM EST

Raymond James reiterated a Market Perform rating on NetApp (NASDAQ: NTAP), following the company's announced acquisition of SolidFire for $870 million in cash. For FY17, management expects minimal revenue contribution and $0.25 to $0.30 of EPS dilution, but expects SolidFire to add 2% to its long-term revenue growth rate.

Analyst Brian Alexander commented, "Today after market close NetApp announced its acquisition of SolidFire for $870 million in cash. Management expects the deal to close in... More

NetApp (NTAP)/SolidFire, Better Late Than Never, Baird Says; PT Down to $35

December 22, 2015 7:35 AM EST

Baird analyst, Jayson Noland, cut his price target on NetApp (NASDAQ: NTAP) to $35 from $40 after announcing the SolidFire acquisition on the near term earnings impact from the acquisition. The analyst has been negative on NTAP but is warming to the story demand has noticeably improved with the introduction of the cTAP transition program and consolidation... More

Susquehanna Cuts Price Target on NetApp (NTAP) Following Announced SolidFire Acquisition

December 22, 2015 7:11 AM EST

Susquehanna maintained a Neutral rating on NetApp (NASDAQ: NTAP), and cut the price target to $31.00 (from $32.00), following the company's announced acquisition of SolidFire. Susquehanna sees the acquisition to be an intriguing addition to NTAP's existing portfolio. However, given that NTAP already possesses two other All-Flash Array (AFA) products, the AFF and EF-Series, the company plans to utilize SolidFire as yet another tier of AFA systems, not as a replacement of AFF and... More

RBC Capital Downgrades NetApp (NTAP) to Sector Perform; SolidFire Acquisition Makes Takeout Unlikely

December 22, 2015 6:35 AM EST

RBC Capital downgraded NetApp (NASDAQ: NTAP) from Outperform to Sector Perform with a price target of $28.00 (from $38.00). Analyst Amit Daryanani called the deal to acquire SolidFire is materially dilutive to near-term EPS and will make NTAP a less likely takeout candidate."

"We are downgrading NTAP to Sector Perform from... More

NetApp to buy flash storage maker SolidFire for $870 million

December 21, 2015 4:32 PM EST

(Reuters) - Data storage equipment maker NetApp Inc (NASDAQ: NTAP) said it would buy SolidFire, a flash-storage systems maker, for $870 million in cash.

The deal is expected to close in the fiscal fourth quarter, the company said on Monday.

(Reporting by Supantha Mukherjee in Bengaluru)

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