Netapp Inc Stock Price, News & Analysis

NetApp (NASDAQ: NTAP) has announced the expansion of its decade-long relationship with Amazon Web Services (AWS) through a new Strategic Collaboration Agreement (SCA). This agreement aims to accelerate generative AI efforts, simplify transactions, and deliver CloudOps value to joint customers. Key highlights include:

1. Accelerating Generative AI: NetApp released BlueXP workload factory to connect ONTAP with foundation models through Amazon Bedrock.

2. Simplifying Transactions: Increased AWS Marketplace purchases, especially for NetApp CloudOps solutions.

3. Delivering CloudOps Value: Positioning NetApp as a trusted provider of CloudOps solutions for AWS environments.

The collaboration builds on NetApp's existing achievements, including over a dozen AWS competencies and the unique Amazon FSx for NetApp ONTAP service.

NetApp has become the preferred data infrastructure provider for Aruba, a leading European web hosting and domain registration company. This strategic partnership aims to leverage each company's strengths to offer enhanced solutions labeled 'Powered by NetApp'. Aruba, Italy's top provider of cloud and data center services, has been a NetApp customer for over a decade and is now formalizing this relationship.

The collaboration will focus on developing optimized data center solutions, combining Aruba's expertise in hosting services with NetApp's intelligent data infrastructure. This partnership is expected to drive innovation and expand both companies' reach across Europe. Aruba will showcase its NetApp-powered solutions at NetApp INSIGHT 2024, highlighting the benefits of enhanced data security, management, and visibility for its customers.

NetApp (NASDAQ: NTAP) announces its 2024 INSIGHT™ customer conference in Las Vegas, Nevada from September 23-25, 2024. The event features two key sessions on September 23:

1. A technology session for financial analysts from 9:30 AM to 1:00 PM PT, including CEO George Kurian and tech specialists discussing NetApp's differentiation in enterprise storage, AI, Cloud, and Hybrid Cloud. A customer panel will be moderated by Kris Newton, VP of investor relations.

2. A keynote session from 4:00 PM to 5:30 PM PT, featuring tech luminaries, industry leaders, and entertainment icons.

Both events will be live-streamed at http://investors.netapp.com, with replays available approximately 24 hours after each event.

NetApp (NASDAQ: NTAP) announced that Anaplan, a leading business planning platform, has chosen NetApp as its primary storage vendor. Anaplan is adopting NetApp's unified data storage to refresh systems in four global data centers, consolidating storage for public and private cloud deployments. This move simplifies Anaplan's data operations and enables innovation for AI-focused solutions.

Anaplan will use NetApp AFF C-Series storage systems for capacity and NetApp FAS storage arrays for cost-effective secondary data workloads. The company will also utilize native cloud storage services built on NetApp ONTAP, allowing easy management of data across hybrid multicloud environments. NetApp MetroCluster configurations will ensure high availability and data protection through snapshot copies for backups and disaster recovery.

NetApp (NASDAQ: NTAP) has appointed Gus Shahin as the new Executive Vice President of Business Technology and Operations. Reporting to CEO George Kurian, Shahin will lead critical business operations across four key pillars: Information Technology, Operations, Global Security, and Enterprise Process Excellence. With over 25 years of enterprise experience, Shahin joins NetApp from Flex, where he held various leadership roles, including CIO and President of Business Process for Global Business Services.

Shahin's appointment aims to accelerate NetApp's growth and foster cross-functional execution. His focus will be on scaling digital transformation efforts, reimagining processes, and enhancing operations to realize the company's growth potential. Shahin brings expertise in driving corporate IT strategy, leading digital transformation initiatives, and enhancing global business operations.

NetApp (NASDAQ: NTAP), the intelligent data infrastructure company, has announced its participation in two upcoming technology conferences. CEO George Kurian will be presenting at Citi's Global TMT Conference on September 4, 2024, from 2:10 to 2:50 p.m. Eastern Time. Additionally, EVP and CFO Mike Berry will be presenting at the Goldman Sachs Communacopia & Technology Conference on September 9, 2024, from 3:45 to 4:20 p.m. Pacific Time.

Both presentations will be available as live audio webcasts on the NetApp investor relations website (investors.netapp.com). Archives of the webcasts will also be accessible after the conferences conclude. This participation in high-profile technology events underscores NetApp's commitment to engaging with investors and industry leaders.

NetApp (NASDAQ: NTAP) has announced new capabilities to support VMware Cloud Foundation deployments, enabling customers to optimize their private and hybrid cloud environments. The collaboration between NetApp and Broadcom (which recently acquired VMware) aims to enhance the efficiency of VMware workloads at scale. Key offerings include:

1. Expanded support for VMware Cloud Foundation (VCF) using NetApp ONTAP software
2. New capabilities for Azure VMware Solution (AVS) with Spot Eco by NetApp
3. Enhanced VM optimization features for NetApp Cloud Insights
4. A free 30-day trial of Cloud Insights to help customers migrate to new VMware software subscriptions

These enhancements follow recent updates to NetApp BlueXP disaster recovery service for VMware workloads across hybrid cloud environments.

NetApp (NTAP) reported strong Q1 FY2025 results, with net revenues up 8% year-over-year to $1.54 billion. The company achieved record Q1 GAAP operating margin of 18% and non-GAAP operating margin of 26%. GAAP net income per share rose to $1.17, while non-GAAP EPS reached $1.56. All-flash array annualized net revenue run rate grew 21% to $3.4 billion. Cloud storage services revenue increased approximately 40% year-over-year.

NetApp provided Q2 FY2025 guidance with net revenues expected between $1.565-$1.715 billion and non-GAAP EPS of $1.73-$1.83. For full FY2025, the company projects net revenues of $6.480-$6.680 billion and non-GAAP EPS of $7.00-$7.20. The company also announced CFO Mike Berry's planned retirement in May 2025.

NetApp (NASDAQ: NTAP) has been named the preferred data infrastructure provider for the San Jose Sharks, a premier NHL team. This partnership aims to enhance the Sharks' digital media capabilities and fan engagement strategies. The team will utilize NetApp's AFF C-Series system to expand storage capacity for valuable video content, including game footage and player interviews.

Key benefits of this collaboration include:

• Increased storage capacity for in-house video production
• Improved accessibility of video production files
• Automated cloud tiering of infrequently used data using NetApp ONTAP FabricPool
• Enhanced digital fan experiences through innovative use of video content

This partnership underscores the critical role of intelligent data infrastructure in modern sports organizations and their efforts to connect with fans globally.