Netapp Inc Stock Price, News & Analysis

NetApp and Cisco unveiled FlexPod XCS, a platform enhancing hybrid cloud connectivity and automation for modern applications. FlexPod XCS integrates with leading cloud providers, offering operational flexibility through a pay-as-you-grow model. Key features include enhanced visibility via Cisco Intersight, comprehensive automation, and tailored cost structures. This innovation aims to streamline IT operations and modernize cloud services, reinforcing NetApp's and Cisco's commitment to delivering robust data management solutions.

NetApp, a cloud-led, data-centric software company, will host an investor day on March 22, 2022, from 8:30 a.m. to 11:45 a.m. Eastern Time. Interested participants can join via a live video Webcast available on the investors.netapp.com site, with a replay available after the event. Attendees wishing to participate in person must pre-register by contacting Billie Fagenstrom.

NetApp specializes in enabling businesses to optimize their data across cloud and on-premises environments.

NetApp (NASDAQ: NTAP) will participate in the Morgan Stanley TMT Conference on March 7, 2022, from 10:20 to 10:50 a.m. Pacific Time. CEO George Kurian will lead a fireside chat during the event. A live audio Webcast will be available at investors.netapp.com, with an archive accessible post-conference. Known for its cloud-led, data-centric approach, NetApp specializes in maximizing data utility for businesses across various environments and public clouds.

NetApp (NASDAQ: NTAP) has announced its acquisition of Fylamynt, a CloudOps automation technology company. The deal aims to enhance cloud operations for organizations by offering low-code, no-code automation solutions. Though financial details remain undisclosed, this acquisition is projected to integrate seamlessly with NetApp's existing services, particularly Spot by NetApp. NetApp has previously expanded its CloudOps portfolio through strategic acquisitions, strengthening its leadership in this space. The collaboration with Fylamynt is expected to optimize cloud operations while reducing costs for customers.

NetApp reported a strong third quarter for fiscal year 2022, with net revenues reaching $1.61 billion, up 10% year-over-year. Public Cloud annualized revenue run rate surged 98% to $469 million. Product revenue increased 9% to $846 million, marking the fourth consecutive quarter of growth. The company returned $236 million to shareholders. GAAP net income hit $252 million, with EPS at $1.10. For Q4, net revenues are expected between $1.635 billion and $1.735 billion, with EPS guidance at $0.90 - $1.00.

NetApp (NASDAQ: NTAP) will announce its third-quarter fiscal results for 2022 on February 23, 2022, after market close. The results will detail the performance up to January 28, 2022. Following the announcement, executive management will lead a conference call at 2:00 p.m. Pacific Time to discuss the outcomes and market dynamics. Upcoming targeted release dates for future financial results include Q4 FY 2022 on June 1, 2022, Q1 FY 2023 on August 24, 2022, Q2 FY 2023 on November 29, 2022, and Q3 FY 2023 on February 22, 2023.

NetApp has appointed Elizabeth O’Callahan as its new Chief Legal Officer and General Counsel, previously serving as Senior Vice President. This change aims to enhance the company’s focus on its cloud transformation and growth strategy. O’Callahan's appointment allows Matt Fawcett to concentrate solely on strategy as Chief Strategy Officer. NetApp reports strong growth in its Public Cloud business, exceeding expectations for six consecutive quarters, particularly in Azure NetApp Files, Spot, and Cloud Insights.

NetApp (NASDAQ: NTAP) has announced that its ONTAP platform is the first enterprise storage system to achieve Commercial Solutions for Classified (CSfC) validation for data-at-rest security. This recognition by the U.S. National Security Agency emphasizes ONTAP's robust capabilities in protecting sensitive data against threats like ransomware. As cyber attacks increase, organizations can now store top-secret data confidently, benefiting from easier procurement processes and cost savings. NetApp aims to bolster cybersecurity across industries relying on secure data management.

Level Equity Management announced the final closings of Level Equity Growth Partners V and Level Equity Opportunities Fund 2021, raising $775 million and $350 million respectively, totaling $1.125 billion in commitments. Since 2011, Level has raised $3.0 billion across 10 funds. Key promotions include Gautam Gupta to Partner and Chris Isaac to Principal. In 2021, Level made investments in various tech companies and sold CloudCheckr to NetApp (NASDAQ: NTAP) and PassFort to Moody's (NYSE: MCO). The firm continues to focus on growth investments.