Nutanix stock gains after BTIG upgrades to buy
Shares of @Nutanix Inc. #NTNX, +5.99% are up 3% in premarket trading Friday after a pair of analysts grew more positive on the stock. BTIG’s @EdwardParker upgraded shares to buy from hold Friday, pointing to how the company has transcended “traditional infrastructure categories.” The company is now the leader of the “fledgling ‘enterprise cloud OS'” market, he noted. Parker admitted that he missed a big run up for the stock, which has more than tripled in price since May, but he thinks the company can make a “further ascension up the IT stack.” He has a $53 target on shares. Separately, KeyBanc Capital Markets analyst Alex Kurtz raised his price target on the stock to $52 from $44, citing several new projects in the EU. Shares of Nutanix are up 116% over the past 12 months, while the S&P 500 SPX, +1.74% has gained 16%.