In a report released yesterday, Ittai Kidron from Oppenheimer maintained a Hold rating on Nutanix Inc (NTNX). The company’s shares closed yesterday at $41.29.
Kidron noted:
“We attended Nutanix’s investor day in New York and, unsurprisingly, investors’ attention was squarely on its recent go-to-market execution challenges and path to recovery. From our view, the company’s long-term vision of extending its fabric across all workloads, from HCI to private and multi-cloud environment, remains compelling and differentiated. Yet, the company’s ambitions seem to have outrun its current capabilities/capacity, and it will take time for recent go-to-market changes to permeate through the organization. We wouldn’t be surprised if more considered investment prioritization decisions may need to be implemented. Ultimately, while Nutanix can work through these issues, we would rather wait on the sidelines for evidence of execution considering elevated FY19 product and go-to-market risks.”
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 29.5% and a 70.9% success rate. Kidron covers the Technology sector, focusing on stocks such as Citrix Systems, New Relic Inc, and Cloudera Inc.
Nutanix Inc has an analyst consensus of Moderate Buy, with a price target consensus of $50.46, implying a 22.2% upside from current levels. In a report issued on March 12, Deutsche Bank also initiated coverage with a Hold rating on the stock with a $40 price target.
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The company has a one-year high of $64.87 and a one-year low of $32.52. Currently, Nutanix Inc has an average volume of 3.77M.
Based on the recent corporate insider activity of 93 insiders, corporate insider sentiment is negative on the stock.
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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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