NetApp price target lowered to $130 from $150 at Loop Capital

Loop Capital lowered the firm’s price target on NetApp (NTAP) to $130 from $150 and keeps a Buy rating on the shares. The company’s Q4 results marked the fifth consecutive quarter of revenue and billings growth, with key driver being all-flash storage which rose 10% YoY, the analyst tells investors in a research note. Loop adds that demand for AI-driven workloads continues to accelerate, also noting that the company’s sales mis-execution is creating a great value opportunity.