Why NetApp (NTAP) Stock Is Falling After-Hours Today

NEW YORK (TheStreet) -- NetApp (NTAP) was falling -1% to $34.15 in after-hours trading Wednesday after missing analysts' estimates for revenue in the fiscal fourth quarter and issues a light guidance.

For the fiscal fourth quarter NetApp reported EPS of 84 cents a share, beating the Capital IQ Consensus Estimate of 79 cents a share by 5 cents. Revenue fell -4.7% from the year-ago quarter to $1.64 billion, while analysts expected revenue of $1.67 billion for the quarter.

Looking forward to the fiscal first quarter NetApp expects earnings of 53 cents to 58 cents a share, below analysts' estimates of 62 cents a share. The company expects revenue of $1.42 billion to $1.52 billion for the quarter, compared to analysts' estimates of $1.52 billion.

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TheStreet Ratings team rates NETAPP INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate NETAPP INC (NTAP) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow."

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