UPDATE: Oppenheimer Starts Nutanix (NTNX) at Outperform

October 25, 2016 7:17 AM EDT
Get Alerts NTNX Hot Sheet
Price: $27.77 +0.62%

Rating Summary:
    10 Buy, 6 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 11 | Down: 31 | New: 42
Trade NTNX Now!
Join SI Premium – FREE

Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Updated - October 25, 2016 9:09 AM EDT)

Oppenheimer initiated coverage on Nutanix (NASDAQ: NTNX) with an Outperform rating and a price target of $36.

Analyst Ittai Kidron said, "We're bullish on Nutanix's growth prospects given (1) its differentiated Acropolis OS and innovative hyperconverged solution that's displacing legacy data center solutions due to its low cost and ability to make IT "invisible"; (2) a large TAM (~$5.4B in '16, 24.2% 2015-20E CAGR) that will get larger longer term as hyperconverged displaces more traditional storage ($22.4B) and server ($55.7B) deployments; and (3) a successful land-and-expand business model that's driving strong customer additions (3,768, up 109.4% YoY) and sales expansion (Global 2000 customers expanding 7.2x over first 18 months). Our $36 PT is supported by Nutanix's strong and sustainable growth profile (51.3% FY16-18E CAGR)."

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.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, New Coverage

Related Entities

Ittai Kidron

Add Your Comment