Netapp Inc Stock Price, News & Analysis

NetApp (NASDAQ: NTAP) announces a multi-year partnership with the TAG Heuer Porsche Formula E Team, aimed at enhancing race performance through innovative hybrid cloud solutions. This collaboration integrates real-time data services to support on-track decision-making and optimize race strategies. Porsche targets 80% electric vehicle sales by 2030, leveraging NetApp's technology to advance their electric vehicle development. Key cloud solutions include Cloud Volumes ONTAP and Global File Cache, ensuring data availability and processing across racing locations.

NetApp (NASDAQ: NTAP) has announced new enhancements to its hybrid multicloud offerings, emphasizing simplicity, security, and flexibility. Key innovations include a unified management system and improved ransomware protection. NetApp's new Storage-as-a-Service model through Keystone allows organizations to manage workloads seamlessly across clouds. The firm also aims to enhance cyber resilience, with features to protect against unauthorized access. Collaboration with VMware aims to facilitate cloud transition for enterprises, enhancing operational responsiveness and data security.

NetApp (NASDAQ: NTAP) will participate in a fireside chat at the William Blair Growth Stock Conference on June 7, 2022. CFO Mike Berry will present from 8:40 – 9:10 a.m. Central Time. A live audio webcast of the presentation can be accessed post-conference at investors.netapp.com.

NetApp specializes in delivering enterprise-grade data services, focusing on maximizing data utilization across cloud and data center environments.

NetApp (NASDAQ: NTAP) reported a strong performance for Q4 and FY2022, with net revenues of $1.68 billion in Q4, up 8% year-over-year, and $6.32 billion for the fiscal year, reflecting a 10% increase. Q4 billings soared 16% to $2.02 billion, while the Public Cloud annualized revenue run rate jumped 68% to $505 million. Despite a GAAP net income decline in Q4 to $259 million, non-GAAP net income rose to $324 million. The company returned $1.05 billion to shareholders in FY2022. Looking ahead, Q1 FY2023 revenue is projected between $1.475 and $1.625 billion.

NetApp has completed its acquisition of Instaclustr, a provider of fully managed open-source database applications. This move enhances NetApp's Cloud Operations (CloudOps) offerings, aligning with its strategic acquisitions aimed at optimizing cloud-native applications. The integration of Instaclustr's services aims to improve cloud application development and operational efficiency, leveraging NetApp's superior data storage and CloudOps capabilities. This acquisition underscores NetApp's commitment to expanding its portfolio and providing comprehensive cloud solutions for customers.

Kyndryl (NYSE: KD) and NetApp (NASDAQ: NTAP) have formed a strategic alliance aimed at leveraging unstructured data to drive innovation and cloud transformation for customers across diverse industries. The partnership will merge Kyndryl's IT infrastructure expertise with NetApp's cloud capabilities to enhance data management and analytics. The collaboration targets industry-specific solutions in sectors such as automotive and financial services, focusing on improving operational efficiency and customer satisfaction. The two companies aim to accelerate cloud adoption and facilitate business transformation through their combined efforts.

NetApp (NASDAQ: NTAP) has launched Spot PC, a managed cloud Desktop-as-a-Service (DaaS) solution designed to enhance remote work. This service caters to Managed Service Providers (MSPs) and enterprises, offering a secure and efficient desktop solution with predictable pricing. Spot PC aims to alleviate the operational burdens associated with traditional virtual desktop infrastructure, making it easier for organizations to adapt to hybrid work environments. The solution promises quicker deployment, cost predictability, and enhanced security for users.

NetApp (NASDAQ: NTAP) has expanded its AI portfolio by certifying the NetApp EF600 all-flash NVMe storage with the BeeGFS parallel file system for the NVIDIA DGX SuperPOD. This certification streamlines AI and high-performance computing (HPC) infrastructures, enhancing deployment speed for companies leveraging these technologies. The partnership between NetApp and NVIDIA has aided numerous customers since 2018, facilitating AI centers of excellence and tackling large-scale AI challenges. This latest qualification supports businesses in optimizing model training infrastructure.