Cloud data services provider NetApp (NTAP - Get Report) fell Thursday after the stock received a downgrade from Goldman Sachs analyst Rod Hall to sell from buy, as well as a lower 12-month price target.

NetApp stock was a little more than 2%, or $1.05 a share, at $50.32 in trading Thursday after the double-downgrade, which according to Hall is still "optimistic" in an environment where large enterprise spending among companies appears to be deteriorating further. Earlier the shares were down more than 4%.

NetApp's fiscal 2020 revenue guidance implies a recovery in core product revenue growth despite a slowdown in July, Hall said in a note to clients, though ongoing trade and economic uncertainty point to a reduction in companies' spending plans on services and infrastructure.

The countdown is on! �� #NetAppINSIGHT https://t.co/zUjpB1APRP

— NetApp (@NetApp) October 8, 2019

Other analysts have a different outlook for the Sunnyvale, Calif.-based company. Cowen analyst Karl Ackerman in August upgraded NetApp to market perform from underperform and raised his price target to $45 from $40. Last month, Susquehanna analyst Mehdi Hosseini upgraded his rating to positive from neutral, and also raised his one-year price target to $75 from $54.

Specifically, analysts see NetApp's prospects as particularly promising in the fast-growing so-called all-flash array sector, or AFA - a technology that uses flash memory in place of spinning hard disks more typical of large-scale computer network storage systems.