Maxim Group Sticks to Their Buy Rating for Nutanix Inc (NTNX)


In a report released yesterday, Nehal Chokshi from Maxim Group maintained a Buy rating on Nutanix Inc (NTNX), with a price target of $48. The company’s shares closed last Monday at $24.01, close to its 52-week low of $17.74.

Chokshi noted:

“F4Q19 (July) software & support billings 10% above our estimate and large deal metrics continue to show impressive growth given macro backdrop that appears to be impacting multi-national large enterprises the most. Midpoint F1Q20 (October) guidance implies that bottom in software & support billings y/y growth was reached in F4Q19 (July), likely as adoption of non-HCI software accelerates. FY20 guidance implies improvement in sales productivity as FY progresses. Maintain Buy rating and 12-month $48 price target as NTNX remains well positioned to subsume a $22B operating profit pool consisting of multiple infrastructure software segments, in our view.”

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 4.1% and a 48.9% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Turtle Beach Corp.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nutanix Inc with a $34.73 average price target, a 42.3% upside from current levels. In a report issued on August 22, Needham also reiterated a Buy rating on the stock with a $46 price target.

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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 $194 million. In comparison, last year the company had a GAAP net loss of $87.37 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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