Nutanix (NTNX) Gets a Buy Rating from Needham
In a report released yesterday, Jack Andrews from Needham reiterated a Buy rating on Nutanix (NTNX), with a price target of $46.00. The company’s shares closed last Monday at $34.70.
According to TipRanks.com, Andrews is a 5-star analyst with an average return of 20.2% and a 63.8% success rate. Andrews covers the Technology sector, focusing on stocks such as ServiceNow, New Relic, and Atlassian.
Currently, the analyst consensus on Nutanix is a Moderate Buy with an average price target of $44.00, representing a 17.8% upside. In a report issued on February 24, RBC Capital also maintained a Buy rating on the stock with a $42.00 price target.
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Based on Nutanix’s latest earnings release for the quarter ending October 31, the company reported a quarterly GAAP net loss of $229 million. In comparison, last year the company had a GAAP net loss of $123 million.
Based on the recent corporate insider activity of 63 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.
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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.