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NetApp Concerns Mount: Sterne Agee CRT Downgrades, Longbow Research Sees More Sales Disappointments Coming

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NetApp, Inc. NASDAQ:NTAP, Cisco Systems, Inc. NASDAQ:CSCO - NetApp Concerns Mount: Sterne Agee CRT Downgrades, Longbow Research Sees More Sales Disappointments Coming

Wall Street's concerns for NetApp Inc. NTAP 2.03% are escalating, as Sterne Agee downgraded the stock to Underperform and Longbow sees more sales disappointments from the storage vendor.

Legacy vendors such as Sunnyvale, California-based NetApp, EMC Corporation EMC 0.04% and Dell are losing market share to smaller vendors such as Pure Storage Inc PSTG 0.92%, Nimble Storage Inc NMBL 0.68%, Nutanix, SimpliVity and Tintri. Last month, Cisco Systems, Inc. CSCO 0.63% too entered the frame with its Hyperflex product.

Sterne Agee Reports

Sterne Agee cut the rating on NetApp shares to Underperform and slashed the price target by $2 to $22, saying that it sees the stock underperforming peers with...


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