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NetApp (NTAP) Acquired Instaclustr to Boost Cloud Operations

Zacks Equity Research
·3 min read

NetApp NTAP has completed the acquisition of Instaclustr. With the latest acquisition, NetApp will be able to provide clients with a comprehensive portfolio of solutions for Cloud Operations.

Instaclustr provides a platform for open-source database, pipeline and workflow applications delivered as a service. Modern cloud apps are gradually adopting Instaclustr's suite of cloud data application services.

NetApp, Inc. Price and Consensus

 

NetApp, Inc. Price and Consensus
NetApp, Inc. Price and Consensus

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

Instaclustr will take advantage of NetApp’s cloud storage offering and Spot portfolio along with the granular, service-level observability of Cloud Insights to help customers build, deploy and operate cloud applications much more effectively and efficiently.

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On Apr 7, 2022, NetApp announced its intent to acquire Instaclustr for undisclosed financial terms.

NetApp’s Instaclustr is part of a series of strategic acquisitions, including CloudCheckr, Data Mechanics, Fylamynt and Spot, to provide a full suite of solutions for Cloud Operations capabilities (CloudOps).

CloudOps is a collection of activities, tools and processes that ensure cloud-native apps and underlying infrastructure run smoothly.

NetApp's momentum and investment in growing the Spot by NetApp portfolio of leading CloudOps multi-cloud infrastructure management services continued with the last purchase of Fylamynt. The buyout of Instaclustr marks the latest effort by NetApp to boost its Spot portfolio.

In July 2020, NetApp purchased cloud services start-up Spot. In June 2021, the business bought Data Mechanics to further improve Spot.

NetApp provides enterprise storage as well as data management software and hardware products and services. The Sunnyvale, CA-based 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.

The FAS storage platform is based on the NetApp Data ONTAP operating system, which combines storage efficiency, data management and data protection.

Stocks to Consider

NetApp currently has a Zacks Rank #4 (Sell).

Some better-ranked stocks from the broader technology space are InterDigital IDCC, Vishay Intertechnology VSH and Pure Storage PSTG. InterDigital and Pure Storage (PSTG) currently sport a Zacks Ranks #1 (Strong Buy), whereas Vishay Intertechnology has 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 21.5% in the past year.

The Zacks Consensus Estimate for Vishay Intertechnology’s 2022 earnings is pegged at $2.68 per share, rising 10.3% in the past 60 days. The long-term earnings growth rate is anticipated to be 22.7%.

Vishay Intertechnology’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 4.96%. Shares of VSH have declined 18.3% in the past year.

The Zacks Consensus Estimate for Pure Storage’s fiscal 2023 earnings is pegged at 87 cents per share, unchanged in the past 60 days. The long-term earnings growth rate is anticipated to be 31.3%.

Pure Storage’s earnings beat the Zacks Consensus Estimate in the last four quarters, the average being 99.2%. Shares of PSTG have gained 16.3% in the past year.


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