Nutanix Inc Receives a Buy from Maxim Group

By Jason Carr

Maxim Group analyst Nehal Chokshi reiterated a Buy rating on Nutanix Inc (NASDAQ: NTNX) today and set a price target of $41. The company’s shares closed yesterday at $17.57, close to its 52-week low of $14.38.

Chokshi wrote:

“Increased focus on large deals paying off due to significant value of NTNX infrastructure software platform, especially impressive given DELL headwind. Guidance healthily above prior consensus and when normalizing for multiple headwinds, sales productivity trends appear poised to stabilize by the January 2018 Q.”

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 15.1% and a 67.3% success rate. Chokshi covers the Technology sector, focusing on stocks such as Hewlett Packard Enterprise, Dot Hill Systems Corp, and Super Micro Computer.

Currently, the analyst consensus on Nutanix Inc is Moderate Buy and the average price target is $31.43, representing a 78.9% upside.

In a report issued on May 22, Goldman Sachs also upgraded the stock to Buy.

Based on Nutanix Inc’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $182 million and GAAP net loss of $93.21 million. In comparison, last year the company earned revenue of $115 million and had a GAAP net loss of $46.82 million.

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Nutanix, Inc. engages in enterprise virtualization and storage solutions. It operates through the following geographic segments: U.S.; Europe, the Middle East and Africa; Asia-Pacific; and Other Americas. It offers infrastructure management, server virtualization, enterprise applications, virtual desktop infrastructure, cloud development, data protection, and unified communication services. It provides its products under the Prism and Acropolis trademarks. The company was founded by Dheeraj Pandey, Ajeet Singh, and Mohit Aron in 2009 and is headquartered in San Jose, CA.