Needham & Company Reiterates Buy on Nutanix (NTNX) Following 1Q Report
- Oil steadies on doubts output cut will end global glut
- Western Digital (WDC) Raises Q2 Outlook
- Dollar edges up vs yen as traders eye ECB meeting for cues
- Mondelez Int'l (MDLZ) Seen as Kraft Heinz's (KHC) Next Logical Takeover Target - Credit Suisse
- Foxconn says in preliminary discussions to expand U.S. operations
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Needham & Company reiterated a Buy rating and $36.00 price target on Nutanix (NASDAQ: NTNX) following the company's 1Q earnings report. NTNX posted revenue of $166.8M and a non-GAAP loss per share of ($0.37) vs. consensus estimates of $152.3M and ($0.44).
Analyst Richard Kugele commented, "In its first quarterly report as a public company NTNX did not disappoint, materially exceeding topline revenue, billings and EPS loss estimates. Further, NTNX raised next quarter's guidance vs. consensus, demonstrating continued momentum. In our view, the only thing the company potentially did wrong was report earnings as a public company, as it appears to be in vogue to find some real or imagined fault with next-gen tech companies regardless of how well they are actually executing. We strongly contest this view, as we believe these stocks ultimately revert to growth and fundamentals over time. Consequently, we reiterate our Buy on NTNX and our $36 target based on ~5x EV/CY2018E Revenue."
Shares of Nutanix closed at $34.09 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Mizuho Securities Raises Price Target on Francesca's (FRAN) Following 3Q Beat
- FBR Capital Reiterates Outperform on Dycom Industries (DY)
- Guggenheim Reiterates Buy on At Home Group (HOME) Following 3Q
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesNeedham & Company, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!