Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  NetApp    NTAP

NETAPP

(NTAP)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Deadline Reminder: The Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against NetApp, Inc. (NTAP)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/23/2019 | 02:20pm EDT

Law Offices of Howard G. Smith reminds investors of the upcoming October 15, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased NetApp, Inc. (“NetApp” or the “Company”) (NASDAQ: NTAP) securities between May 22, 2019 and August 1, 2019, inclusive (the “Class Period”).

Investors suffering losses on their NetApp investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On August 1, 2019, after the market closed, the Company reported preliminary first quarter 2019 adjusted earnings per share of $0.55 to $0.60, below the average estimate of $0.83, and net revenue of $1.22 billion to $1.23 billion, below the average estimate of $1.39 billion. Additionally, the Company lowered its 2020 outlook and expected net revenue to decline between 5% and 10% year-over-year.

On this news, the Company’s share price fell as much as $11.67, or over 20%, to close at $46.04 per share on August 2, 2019, thereby injuring investors.

The complaint filed in this class action alleges throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was unable to close large deals within the quarter and that the deals were pushed out to subsequent quarters or downsized; (2) that, as a result, the Company’s revenue would be materially impacted; (3) that, as a result, the Company would lower its fiscal 2020 guidance; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased NetApp securities during the Class Period you may move the Court no later than October 15, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


© Business Wire 2019
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NETAPP
09/19NETAPP : is Recognized as a Magic Quadrant Leader…Again!
PU
09/19NETAPP IT PERSPECTIVE : Automating how apps get onboarded onto DevOps platform
PU
09/18NETAPP, INC. : Change in Directors or Principal Officers, Submission of Matters ..
AQ
09/18NETAPP : Start Planning Your Trip to NetApp INSIGHT 2019 Now
PU
09/17NETAPP : Things Change But NetApp's Commitment to Partners Never Wavers
PU
09/17SAP TECHED PREVIEW : Come See the Best Portfolio for SAP Solutions
PU
09/17NETAPP : Find a Better Data Management Solution in a Matter of Minutes
PU
09/17ANSIBLEFEST 2019 PREVIEW : What to Expect from NetApp in Atlanta
PU
09/16NETAPP : Meet the NetApp Execs and Experts at NetApp INSIGHT 2019
PU
09/13TECH ONTAP PODCAST EPISODE 208 : SQL Server, Intel Persistent Memory and Where M..
PU
More news
Financials (USD)
Sales 2020 5 659 M
EBIT 2020 1 135 M
Net income 2020 830 M
Finance 2020 1 743 M
Yield 2020 3,54%
P/E ratio 2020 16,0x
P/E ratio 2021 13,9x
EV / Sales2020 1,97x
EV / Sales2021 1,90x
Capitalization 12 871 M
Chart NETAPP
Duration : Period :
NetApp Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NETAPP
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 30
Average target price 53,57  $
Last Close Price 54,10  $
Spread / Highest target 38,6%
Spread / Average Target -0,99%
Spread / Lowest Target -26,1%
EPS Revisions
Managers
NameTitle
George Kurian President, Chief Executive Officer & Director
Thomas Michael Nevens Chairman
Bill Berg Senior Vice President-Operations
Ronald J. Pasek Chief Financial Officer & Executive Vice President
William H. Miller SVP & Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
NETAPP-9.33%12 871
WESTERN DIGITAL64.13%17 962
PURE STORAGE INC8.15%4 455
MAXELL HOLDINGS LTD7.88%732
MELCO HOLDINGS INC.-14.85%510
TINTRI INC202.70%1