Nutanix Inc (NTNX) Receives a Buy from Merrill Lynch

By Jason Carr

Merrill Lynch analyst Wamsi Mohan maintained a Buy rating on Nutanix Inc (NTNXResearch Report) yesterday and set a price target of $35. The company’s shares closed last Monday at $18.73, close to its 52-week low of $18.33.

According to TipRanks.com, Mohan is a 4-star analyst with an average return of 4.5% and a 51.4% success rate. Mohan covers the Consumer Goods sector, focusing on stocks such as Dell Technologies Inc, Pure Storage Inc, and Apple Inc.

Currently, the analyst consensus on Nutanix Inc is a Moderate Buy with an average price target of $37.36, implying a 102.4% upside from current levels. In a report issued on August 2, Maxim Group also maintained a Buy rating on the stock with a $48 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.