JPMorgan Upgrades Nutanix (NTNX) to Overweight

May 4, 2021 3:54 AM EDT
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Price: $36.43 -0.16%

Rating Summary:
    18 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 19
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(Updated - May 4, 2021 4:21 AM EDT)

JPMorgan analyst Mark Murphy upgraded Nutanix (NASDAQ: NTNX) from Neutral to Overweight with a price target of $38.00 (from $30.00).

The analyst comments "Nutanix, the pioneer of the Hyperconverged Infrastructure (HCI) market, offers an enterprise cloud platform that leverages web-scale engineering to natively converge compute, storage, networking, and virtualization into a highly scalable, resilient, software-defined solution based on commodity hardware components. We believe Nutanix leads the pack in terms of market share as well as mind share despite the rapidly evolving competitive landscape. Our Dec 2021 price target of $38 is based on a ~5x EV/CY22E revenue multiple."

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 $26.54 yesterday.

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