Needham & Company Starts Nutanix (NTNX) at Buy

October 25, 2016 7:00 AM EDT
Get Alerts NTNX Hot Sheet
Price: $30.05 --0%

Rating Summary:
    10 Buy, 7 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 17 | New: 54
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Needham & Company initiates coverage on Nutanix (NASDAQ: NTNX) with a Buy rating and a price target of $36.00.

Analyst Richard Kugele commented, "We believe disruption in the traditional datacenter world has a name (hyperconvergence), a poster child (Nutanix), and now a ticker (NTNX). For the past 18 months we have been extensively writing about the virtues of HCI in collapsing traditional IT storage arrays by implementing software-defined architectures to help deliver cloud-like economics for on-premise and hybrid environments. We believe NTNX represents an opportunity for investors to directly participate in this disruption through one of the companies at the vanguard of innovation on the topic. We initiate coverage of NTNX with a Buy rating."

For an analyst ratings summary and ratings history on Nutanix click here. For more ratings news on Nutanix click here.

Shares of Nutanix closed at $29.77 yesterday.

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