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NetApp (NTAP) Teams Up With Equinix for a New BMaaS Solution
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NetApp (NTAP - Free Report) recently unveiled a new Bare-Metal-as-a-Service (BMaaS) solution, NetApp Storage on Equinix Metal, in collaboration with Equinix.
The BMaaS solution is fully integrated with Equinix Metal's infrastructure, thereby providing a unified full-stack experience for storage (file, block and object), compute and networking as-a-service for a single subscription.
The solution will offer low-latency interconnection to all major public clouds, whereby the environment (on-premises, in the cloud, or anywhere in between) can be either single tenant or dedicated, noted NetApp.
NetApp Storage, when integrated with Equinix Metal's high-performance dedicated bare metal servers, will assist customers to gain access to data fast at minimal latency and extend the ability to manage demanding workloads easily.
The solution is designed to meet strict performance requirements. Customers will be able to scale their storage resources as needed with NetApp Storage on Equinix Metal.
A single agreement takes care of the packaging, pricing, billing and support of NetApp Storage on Equinix Metal solution, highlighted NetApp.
NetApp Storage on Equinix Metal is delivered as an as-a-service model through NetApp Keystone. Notably, NetApp Keystone is a storage-as-a-service solution that offers a hybrid cloud experience in a single subscription. Keystone aids customers in lowering upfront costs with the flexibility to add more storage on demand per business requirements.
The company further highlighted that NetApp Storage on Equinix Metal is a strategic expansion of its cloud strategy, adding a “true hybrid multi-cloud experience.” NTAP will now be able to deliver the entire stack in Equinix International Business Exchange data centers equipped with Equinix Metal.
NetApp provides enterprise storage as well as data management software and hardware products and services.
The company is well-poised to gain from data-driven digital and cloud transformations. Frequent product launches and secular trends in generative artificial intelligence and high-performance computing bode well. Extensive cost discipline and new go-to-market measures, along with the focused approach to boost storage and cloud business, are added positives. Its dividend and share repurchase activity are noteworthy.
However, at present, NTAP’s performance is being affected by a weak IT spending environment amid macroeconomic turbulence. NetApp continues to expect fiscal 2024 revenues to decline in the low-to-mid single-digit range on a year-over-year basis. Management now suggests Public Cloud revenue growth to be lower than the earlier expectation, owing to a softness in subscription services.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings per share (EPS) has increased 5.9% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 676.4%. Shares of ASUR have surged 70.9% in the past year.
The Zacks Consensus Estimate for Synopsys’ fiscal 2023 EPS has gained 0.4% in the past 60 days to $11.09. SNPS’ long-term earnings growth rate is 16.4%. Shares of SNPS have climbed 70.3% in the past year.
The Zacks Consensus Estimate for VMware’s fiscal 2024 EPS has improved 5.9% in the past 60 days to $7.23.
VMware’s earnings outpaced the Zacks Consensus Estimate in two of the last four quarters, while missing twice. The average earnings surprise is 1.2%. Shares of VMW have jumped 53.3% in the past year.
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NetApp (NTAP) Teams Up With Equinix for a New BMaaS Solution
NetApp (NTAP - Free Report) recently unveiled a new Bare-Metal-as-a-Service (BMaaS) solution, NetApp Storage on Equinix Metal, in collaboration with Equinix.
The BMaaS solution is fully integrated with Equinix Metal's infrastructure, thereby providing a unified full-stack experience for storage (file, block and object), compute and networking as-a-service for a single subscription.
The solution will offer low-latency interconnection to all major public clouds, whereby the environment (on-premises, in the cloud, or anywhere in between) can be either single tenant or dedicated, noted NetApp.
NetApp Storage, when integrated with Equinix Metal's high-performance dedicated bare metal servers, will assist customers to gain access to data fast at minimal latency and extend the ability to manage demanding workloads easily.
NetApp, Inc. Price and Consensus
NetApp, Inc. price-consensus-chart | NetApp, Inc. Quote
The solution is designed to meet strict performance requirements. Customers will be able to scale their storage resources as needed with NetApp Storage on Equinix Metal.
A single agreement takes care of the packaging, pricing, billing and support of NetApp Storage on Equinix Metal solution, highlighted NetApp.
NetApp Storage on Equinix Metal is delivered as an as-a-service model through NetApp Keystone. Notably, NetApp Keystone is a storage-as-a-service solution that offers a hybrid cloud experience in a single subscription. Keystone aids customers in lowering upfront costs with the flexibility to add more storage on demand per business requirements.
The company further highlighted that NetApp Storage on Equinix Metal is a strategic expansion of its cloud strategy, adding a “true hybrid multi-cloud experience.” NTAP will now be able to deliver the entire stack in Equinix International Business Exchange data centers equipped with Equinix Metal.
NetApp provides enterprise storage as well as data management software and hardware products and services.
The company is well-poised to gain from data-driven digital and cloud transformations. Frequent product launches and secular trends in generative artificial intelligence and high-performance computing bode well. Extensive cost discipline and new go-to-market measures, along with the focused approach to boost storage and cloud business, are added positives. Its dividend and share repurchase activity are noteworthy.
However, at present, NTAP’s performance is being affected by a weak IT spending environment amid macroeconomic turbulence. NetApp continues to expect fiscal 2024 revenues to decline in the low-to-mid single-digit range on a year-over-year basis. Management now suggests Public Cloud revenue growth to be lower than the earlier expectation, owing to a softness in subscription services.
NetApp currently carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the broader technology space are Asure Software (ASUR - Free Report) , Synopsys (SNPS - Free Report) and VMware . While Asure Software and VMware sport a Zacks Rank #1 (Strong Buy) each, Synopsys carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Asure Software’s 2023 earnings per share (EPS) has increased 5.9% in the past 60 days to 54 cents.
Asure Software’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, the average surprise being 676.4%. Shares of ASUR have surged 70.9% in the past year.
The Zacks Consensus Estimate for Synopsys’ fiscal 2023 EPS has gained 0.4% in the past 60 days to $11.09. SNPS’ long-term earnings growth rate is 16.4%. Shares of SNPS have climbed 70.3% in the past year.
The Zacks Consensus Estimate for VMware’s fiscal 2024 EPS has improved 5.9% in the past 60 days to $7.23.
VMware’s earnings outpaced the Zacks Consensus Estimate in two of the last four quarters, while missing twice. The average earnings surprise is 1.2%. Shares of VMW have jumped 53.3% in the past year.