Maxim Group analyst Nehal Chokshi reiterated a Buy rating on Nutanix Inc (NASDAQ: NTNX) today and set a price target of $72. The company’s shares closed yesterday at $42.31.
Chokshi commented:
“NTNX NYC footprint likely growing faster than most other regions and appears to be powered by a large enterprise land & expand strategy. Customer panel features major enterprises going all in with Nutanix over VMW. Reiterating Buy rating and 12-month price target of $72.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 13.1% and a 59.4% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
Currently, the analyst consensus on Nutanix Inc is a Strong Buy with an average price target of $64.27.
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Based on Nutanix Inc’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $87.37 million. In comparison, last year the company had a GAAP net loss of $90.65 million.
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Nutanix, Inc. engages in the provision of enterprise virtualization and storage solutions. It specializes in cloud operating system that converges traditional silos of server, virtualization, storage, and networking into one integrated solution and unifies private and public cloud into a single software fabric.
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