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Is NetApp Stock a Buy Now?

TheMotleyFool

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NetApp (NASDAQ: NTAP) posted its first-quarter earnings report on Aug. 24. The data storage and cloud services company's revenue rose 9% year over year (13% in constant currency terms) to $1.59 billion, beating analysts' estimates by $40 million. Its adjusted net income grew 2% to $269 million, or $1.20 per share, which also topped the consensus forecast by a dime.

NetApp's growth rates look steady, and its stock only trades at 14 times forward earnings while paying an attractive forward dividend yield of 2.7%. That low valuation and high yield arguably put NetApp in the same league as resilient blue chip tech stocks like Cisco and Oracle. So, should investors buy NetApp as a defensive play today?

Image source: Getty Images.

Source Fool.com

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