Stifel Starts Nutanix (NTNX) at Hold
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Stifel initiates coverage on Nutanix (NASDAQ: NTNX) with a Hold rating and a price target of $35.00.
Analyst Aaron Rakers commented, "We are initiating coverage on Nutanix with a Hold rating and a $35 target price – 4.8x EV/sales on our C2017 estimate. We establish C2016, C2017, and C2018 revenue (+ change in deferred) estimates at $796.6M (+78% y/y vs. +102% y/y in C2015), $1.044B (+31% y/y) and $1.432B (+37% y/y). We think Nutanix has solidly positioned / differentiated itself to be one of the primary beneficiaries of the fast growing adoption of hyper-converged infrastructure (HCI) - a market continuing to evolve as one of the most disruptive trends in enterprise storage; IDC currently estimates HCI to grow from ~$950M in 2015 to +$5.6B by 2020."
Shares of Nutanix closed at $29.77 yesterday.
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