NetApp (NTAP) — This company provides enterprise storage and data management software globally. Its fabric-attached storage (FAS) offers storage for various platforms including cloud environments.
The company has an impressive record of earnings growth, robust revenue growth and expanding profit margins. Since I first recommended NTAP on May 7, S&P upgraded the stock to a “buy” from “hold.” They increased their fiscal year (FY) 2014 (ending in April) operating EPS by $0.11 to $2.65, and look for $3.12 in FY 2015 and $3.46 in FY 2016. Their target price is $46.
On May 16, the stock broke from a bullish cup-and-handle formation through resistance at $36-$37, which provides a trading target of $45. Long-term investors could see much higher prices.