In a report released today, Jack Andrews from Needham assigned a Buy rating to Nutanix (NTNX), with a price target of $30.00. The company’s shares closed last Tuesday at $22.45.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 25.8% and a 68.8% success rate. Andrews covers the Technology sector, focusing on stocks such as LiveRamp Holdings, CommVault Systems, and ServiceNow.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nutanix with a $29.27 average price target.
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Based on Nutanix’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $318 million and GAAP net loss of $241 million. In comparison, last year the company earned revenue of $288 million and had a GAAP net loss of $210 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NTNX in relation to earlier this year.
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. 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. Its products are offered through the Acropolis and Prism brands. The company was founded by Dheeraj Pandey, Ajeet Singh, and Mohit Aron in 2009 and is headquartered in San Jose, CA.
