by Sam Collins | May 7, 2013 1:31 am
NetApp (NASDAQ:NTAP) — This company provides enterprise storage and data management software to a global market. Its fabric-attached storage (FAS) offers storage for various platforms including cloud environments.
The company has an impressive record of revenue and earnings growth and expanding profit margins, but lately has experienced increased competition from EMC Corp. (NYSE:EMC). However, analysts are of the opinion that its record of positive growth and flexible management style is more than enough to meet the challenge. Earnings for fiscal 2013, ended in April, are estimated to be $2.28 per share, down from $2.41 in 2012, but are estimated at $2.54 for fiscal 2014.
The stock has formed a bullish cup-and-handle formation, and on Monday, broke through its long-term bearish resistance line at $35 on heavy volume and a MACD buy signal. A golden cross, a long-term bullish signal, was issued in January.
A clean break over $36-$37 would complete a reversal to a bull market. Buy NTAP for a trade to $42. Long-term investors could see much higher prices.
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