In a report released today, Jonathan Ruykhaver from Robert W. Baird downgraded Nutanix (NTNX) to Hold, with a price target of $25.00. The company’s shares closed last Thursday at $21.70.
According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 23.3% and a 68.8% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Ping Identity Holding, CrowdStrike Holdings, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nutanix with a $30.00 average price target, which is a 38.2% upside from current levels. In a report issued on August 21, Cleveland Research also maintained a Hold rating on the stock.
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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.
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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. 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.
