In a report released today, Ittai Kidron from Oppenheimer assigned a Buy rating to Nutanix Inc (NASDAQ: NTNX), with a price target of $70. The company’s shares closed yesterday at $55.36, close to its 52-week high of $60.
Kidron said:
“Nutanix reported another solid quarter with sales and billings ahead of expectations, strong large deal metrics, positive international trends, and guidance reflecting continued expansion and progress with its software transition. We’re encouraged by the execution and management’s long-term vision (presented at Nutanix’s March analyst day and expanded on in May at its .NEXT conference) focused on becoming the enterprise cloud (delivering a complete stack on invisible infrastructure, managed through a single pane of glass). We believe the vision and product road-map are differentiated and will support a long runway of high growth (note ~40% CAGR in management’s $3B/FY21 billings target). The near-term trade-off is higher-than- expected OpEx levels, but we’re comfortable with the investment given the size of the opportunity/execution shown. We remain buyers.”
According to TipRanks.com, Kidron is a top 100 analyst with an average return of 22.1% and a 64.7% success rate. Kidron covers the Consumer Goods sector, focusing on stocks such as Juniper Networks, Pure Storage Inc, and Arista Networks.
Currently, the analyst consensus on Nutanix Inc is Strong Buy and the average price target is $60.24, representing an 8.8% upside.
In a report issued on May 10, Robert W. Baird also maintained a Buy rating on the stock with a $61 price target.
See today’s analyst top recommended stocks >>
The company has a one-year high of $60 and a one-year low of $16.64. Currently, Nutanix Inc has an average volume of 4.19M.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is neutral on the stock.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Nutanix, Inc. provides 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. Its products are offered through the Acropolis and Prism brands.
Read More on NTNX:
