Analysts Offer Insights on Technology Companies: NetApp (NASDAQ: NTAP), IAC/InterActiveCorp (NASDAQ: IAC) and ACI Worldwide (NASDAQ: ACIW)

By Jason Carr

Analysts fell to the sidelines weighing in on NetApp (NASDAQ: NTAP), IAC/InterActiveCorp (NASDAQ: IAC) and ACI Worldwide (NASDAQ: ACIW) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

NetApp (NASDAQ: NTAP)

In a report released today, Kulbinder Garcha from Credit Suisse reiterated a Hold rating on NetApp (NASDAQ: NTAP), with a price target of $28. The company’s shares opened today at $31.33.

Garcha wrote:

“We note this is the latest round of restructuring, following similar announcements made in February 2016 and May 2015.These actions are part of the company’s strategy to lower its cost structure, as it faces top-line uncertainty, and also fund investment in growth areas. We also note that this might be a leading indicator into a worsening end- market demand. We note that the company has showed progress in cost optimization and management has previously indicated that it intends to maintain opex flat from FY17 to FY18 (see our August NDR note). We forecast FY17/18 revenue of $5.3bn/$5.3bn (-4.0%/-0.4% yoy) and EPS of $2.38/$2.24, respectively.”

According to TipRanks.com, Garcha is a 5-star analyst with an average return of 5.9% and a 59.6% success rate. Garcha covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Lexmark International, and Motorola Solutions.

Currently, the analyst consensus on NetApp is Hold and the average price target is $30.09, representing a -4.0% downside.

In a report released today, Robert W. Baird also reiterated a Hold rating on the stock.
IAC/InterActiveCorp (NASDAQ: IAC)

Credit Suisse analyst Stephen Ju reiterated a Hold rating on IAC/InterActiveCorp (NASDAQ: IAC) today and set a price target of $72. The company’s shares opened today at $65.72, close to its 52-week high of $67.60.

Ju commented:

“We maintain our Natural rating and price target remains $72 based on our DCF.”

According to TipRanks.com, Ju is a top 100 analyst with an average return of 15.0% and a 69.0% success rate. Ju covers the Technology sector, focusing on stocks such as Endurance International, Boingo Wireless Inc., and Activision Blizzard.

Currently, the analyst consensus on IAC/InterActiveCorp is Moderate Buy and the average price target is $75.25, representing a 14.5% upside.

In a report released yesterday, Jefferies also reiterated a Hold rating on the stock with a $74 price target.
ACI Worldwide (NASDAQ: ACIW)

Credit Suisse analyst Paul Condra reiterated a Hold rating on ACI Worldwide (NASDAQ: ACIW) yesterday and set a price target of $19. The company’s shares opened today at $17.

Condra noted:

“We have heard similar commentary from other bank-tech providers that global banks are growing more reluctant to commit to large contracts, a potentially more sticky problem for ACIW given the larger magnitude of the deals it wants to close.”

According to TipRanks.com, Condra is a 3-star analyst with an average return of 3.0% and a 56.8% success rate. Condra covers the Services sector, focusing on stocks such as Fleetcor Technologies, Global Payments Inc., and Alliance Data Sys.

ACI Worldwide has an analyst consensus of Hold.