Analysts Offer Insights on Technology Companies: Nutanix Inc (NASDAQ: NTNX) and Paychex (NASDAQ: PAYX)

By Ryan Adsit

Analysts fell to the sidelines weighing in on Nutanix Inc (NASDAQ: NTNX) and Paychex (NASDAQ: PAYX) with neutral ratings,indicating that the experts are neither bullish nor bearish on the stocks.

Nutanix Inc (NASDAQ: NTNX)

Stifel Nicolaus analyst Aaron Rakers reiterated a Hold rating on Nutanix Inc (NASDAQ: NTNX) yesterday and set a price target of $25. The company’s shares opened today at $20.

According to TipRanks.com, Rakers is a 5-star analyst with an average return of 14.1% and a 64.8% success rate. Rakers covers the Consumer Goods sector, focusing on stocks such as Brocade Communication Systems Inc, Hewlett Packard Enterprise, and Electronics for Imaging.

Nutanix Inc has an analyst consensus of Moderate Buy, with a price target consensus of $29.08.

Paychex (NASDAQ: PAYX)

In a report issued on June 28, David Grossman from Stifel Nicolaus reiterated a Hold rating on Paychex (NASDAQ: PAYX), with a price target of $61. The company’s shares opened today at $57.31.

According to TipRanks.com, Grossman is a 5-star analyst with an average return of 17.2% and a 76.7% success rate. Grossman covers the Technology sector, focusing on stocks such as Automatic Data Processing, Bottomline Technologies, and Exlservice Holdings.

Currently, the analyst consensus on Paychex is Hold and the average price target is $58.33, representing a 1.8% upside.

In a report issued on June 20, Goldman Sachs also downgraded the stock to Hold.

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