After Maxim Group and Merrill Lynch gave Nutanix Inc (NASDAQ: NTNX) a Buy rating last month, the company received another Buy, this time from Robert W. Baird. Analyst Jonathan Ruykhaver maintained a Buy rating on Nutanix Inc today and set a price target of $29. The company’s shares closed last Monday at $19.60, close to its 52-week low of $17.74.
Ruykhaver observed:
“We are incrementally positive with the progress of the ongoing shift, resurgence in pipeline strength, and results from some of the company’s emerging products. However, sales motion will take time to fix as evidenced by continued high spending levels.”
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 18.3% and a 64.7% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Carbon Black Inc, and Varonis Systems.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nutanix Inc with a $35.36 average price target, which is an 86.6% 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 April 30, the company reported a quarterly GAAP net loss of $210 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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