NEW YORK (TheStreet) -- NetApp (NTAP) stock is gaining Thursday after the storage system developer beat analysts' estimates on its bottom line over its April-ending quarter. In its fourth quarter, the company earned 84 cents a share, a nickel higher than analysts surveyed by Thomson Reuters expected.
By late morning, shares had added 3.2% to $35.60.
Investors are shaking off first-quarter guidance which fell below analysts' consensus. Over the three months to July, the company expects revenue between $1.43 billion and $1.52 billion and earnings of 53 cents to 58 cents a share. Analysts had expected $1.52 billion in sales and earnings of 62 cents a share.
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."
- You can view the full analysis from the report here: NTAP Ratings Report