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NetApp (NTAP), Kyndryl Team up to Boost Data Management

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NetApp (NTAP - Free Report) partnered with Kyndryl (KD - Free Report) to help companies better organize, manage and gather insights via enhanced data management across on-premises, cloud and edge-computing environments.

Kyndryl designs and manages the complex, mission-critical information systems used throughout the world. It reportedly serves more than 4,000 customers in above 60 countries around the world.

NetApp, Inc. Price and Consensus

 

NetApp, Inc. Price and Consensus

NetApp, Inc. price-consensus-chart | NetApp, Inc. Quote

NetApp will integrate its expertise on public clouds and edge-to-core-to-cloud scalability with Kyndryl's IT infrastructure and managed service expertise to develop the latest solutions.

The new solutions will aid enterprises in accessing, analyzing and drawing insights from data stored on multiple platforms and cloud, while enabling a speedier transition of critical applications to the cloud.

Customers across sectors would benefit from the partnership by being able to better manage and extract business value from a mountain of unstructured data, such as text-based documents, photographs, audio and video files, and IoT sensors.

These companies also plan to collaborate on sophisticated storage infrastructure-as-a-service solutions in the future to address the challenges in the automotive and financial services sector.

This will provide customers more flexibility, versatility and value from the use of unstructured data and assist businesses in gaining value from their data.

On Mar 16, 2022, NetApp announced the launch of FlexPod XCS. FlexPod XCS will provide an automated platform for modern applications, data and hybrid cloud services. The partnership between these companies will increase accessibility and scalability to offer a simplified hybrid cloud experience.

NetApp provides enterprise storage, and data management software and hardware products and services. The company’s product line comprises two storage platforms — FAS and E-Series. The company’s all-flash storage portfolio comprises NVMe-based storage systems and new cloud-based services in order to provide hybrid storage architecture.

Key Picks:

NetApp currently has a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader technology space are InterDigital (IDCC - Free Report) and Pure Storage (PSTG - Free Report) . InterDigital currently sport a Zacks Ranks #1 (Strong Buy), whereas Pure Storage carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for InterDigital’s 2022 earnings is pegged at $3.28 per share, increasing 5.2% in the past 60 days. The long-term earnings growth rate is anticipated to be 15%.

InterDigital’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 141.13%. Shares of IDCC have declined 14.9% in the past year.

The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at 86 cents per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 30.9%.

Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 99.2%. Shares of PSTG have gained 37.2% in the past year