There’s a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Nutanix Inc (NTNX – Research Report) and Digital Turbine Inc (APPS – Research Report) with bullish sentiments.
Nutanix Inc (NTNX)
In a report released today, Nehal Chokshi from Maxim Group reiterated a Buy rating on Nutanix Inc, with a price target of $72. The company’s shares closed on Friday at $45.46.
“NTNX unit retention rates are comparable to best-in-class SaaS names… …which we believe bodes positively for increasing, effective upsell rates once transition to a complete SaaS model that we expect will make NTNX a best- in-class SaaS player. $3B Software (SW) & Support billings target for FY21 includes room for a recession, in our view. Significant work lies ahead to realizing updated, salivating long-term vision from CEO, but key initial building block is on track, in our view. Reiterating Buy rating & 12-month price target of $72.”
According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 10.1% and a 58.1% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Nutanix Inc with a $62.10 average price target.
Digital Turbine Inc (APPS)
In a report released today, Darren Aftahi from Roth Capital maintained a Buy rating on Digital Turbine Inc, with a price target of $3. The company’s shares closed on Friday at $2.21.
“We recently had the opportunity to meet with CEO Bill Stone at CES. Post our meeting, we remain very encouraged on the prospects of APPS going forward. Android TV were themes at CES and we believe these could be medium to longer-term opportunities for APPS. With Single-Tap now on ~50M handsets, or ~25% of its installed base of devices, we see ample opportunity for topline growth, even in a more moderated handset growth environment. Growth in Single-Tap. Verizon now live with Single-Tap, its installed base of devices approximates ~50M, or about a quarter of APPS’ installed base of devices its software sits on. We believe this is an important point as it gives the platform meaningful scale to drive “recurring” revenue going forward, even in light of a more moderated handset growth environment (with weaker news from Apple and Samsung thus far).”
According to TipRanks.com, Aftahi is a 5-star analyst with an average return of 10.5% and a 53.7% success rate. Aftahi covers the Technology sector, focusing on stocks such as The Meet Group Inc, Mitek Systems Inc, and RumbleON Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Digital Turbine Inc with a $3.07 average price target.
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