In a report released today, Ittai Kidron from Oppenheimer maintained a Buy rating on Nutanix Inc (NASDAQ: NTNX), with a price target of $70. The company’s shares closed yesterday at $48.01.
Kidron observed:
“We hosted investor meetings with Nutanix’s management. Overall, we come away confident in the company’s opportunity, strategy, execution, and competitive position, and highlight these takeaways: (1) Google is not likely to compete with Nutanix; (2) its solution stack is broad, increasingly integrated, and critical to evolving LT beyond HCI; (3) the competitive landscape is narrowing with only Dell/VMware as a capable competitor; (4) opex investment is likely to remain high, but balanced against sales productivity and FCF. Nutanix still has a lot to prove and the execution bar is high; that said, its progress is impressive, its vision compelling, and the opportunity ahead is sizable. We see the recent weakness as an opportunity to build longer term positions.”
According to TipRanks.com, Kidron is a top 100 analyst with an average return of 25.8% and a 65.5% success rate. Kidron covers the Consumer Goods sector, focusing on stocks such as Juniper Networks, Arista Networks, and F5 Networks.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Nutanix Inc with a $67.91 average price target, representing a 41.4% upside. In a report issued on September 18, William Blair also reiterated a Buy rating on the stock.
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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. 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.
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