Nutanix HCI Dominance Bearing Fruit; Street Impressed

Enterprise cloud operating system provider Nutanix (NTNX) continues to gain from the strong adoption of its hybrid cloud solutions. The company dominates the rapidly growing hyper-converged infrastructure (HCI) market. Moreover, Read More... The post Nutanix HCI Dominance Bearing Fruit; Street Impressed appeared first on TipRanks Financial Blog.

Nutanix HCI Dominance Bearing Fruit; Street Impressed

Enterprise cloud operating system provider Nutanix (NTNX) continues to gain from the strong adoption of its hybrid cloud solutions.

The company dominates the rapidly growing hyper-converged infrastructure (HCI) market. Moreover, market research firm Gartner recognized Nutanix as a 2021 Gartner Peer Insights Customers’ Choice vendor for HCI for the third time.

Notably, Nutanix’s software-defined HCI solutions, which are majorly deployed in large and centralized data centers, support multi-hypervisor and multi-cloud with unified management. Its popular Xi Cloud services are in a strong position to compete with Amazon AWS (AMZN), Microsoft Azure (MSFT), and Google Cloud (GOOGL) in the Infrastructure-as-a-Service (IaaS) market. I am bullish on the company.

Needham analyst Jack Andrews attended Nutanix’s annual user conference this week, which focused on discussing the repatriation of workloads from the cloud, and optimal utilization of hybrid operating models. (See Nutanix stock charts on TipRanks)

The pandemic-induced shift to work-from-home made it necessary for organizations to immediately take their workloads to the cloud. However, now that they have had the time to adjust and focus on their business health, organizations are shifting their focus to infrastructure and operational cost optimization.

This trend has been testified by few surveys conducted by venture capital firm Andreessen Horowitz, which found that companies are indeed saving costs by bringing their workloads back on-premise.

Andrews believes that Nutanix plays an important role in this situation, because its solutions ensure seamless deployment and management of workloads for organizations across hybrid environments.

Moreover, Nutanix recently collaborated with Citrix (CTXS) to jointly provide IT solutions to organizations.

“Although Citrix and Nutanix have partnered in multiple ways in the past, the announcements represent a formal partnership around portfolio alignment and joint-go to market to collectively drive the future of the hybrid workforce and multi-cloud services,” said Andrews.

The analyst reiterated a Buy rating on the stock, with a price target of $64. Wall Street seems to be equally optimistic about Nutanix, with the consensus rating being a Strong Buy, based on eight Buys and one Hold. The average Nutanix price target of $50.67 indicates upside potential of 20.4%.

To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.

Disclosure: At the time of publication, Chandrima Sanyal did not have a position in any of the securities mentioned in this article.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates, and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices or performance.

The post Nutanix HCI Dominance Bearing Fruit; Street Impressed appeared first on TipRanks Financial Blog.

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electroCore: Could Patent Result in Commercial Success?

electroCore (ECOR) is a commercial-stage bioelectronic medical device company, with a proprietary non-invasive vagus nerve stimulation, or nVNS, therapy. nVNS is a “bioelectronic medical therapy that modulates neurotransmitters and immune Read More... The post electroCore: Could Patent Result in Commercial Success? appeared first on TipRanks Financial Blog.

electroCore: Could Patent Result in Commercial Success?

electroCore (ECOR) is a commercial-stage bioelectronic medical device company, with a proprietary non-invasive vagus nerve stimulation, or nVNS, therapy.

nVNS is a “bioelectronic medical therapy that modulates neurotransmitters and immune function through its effects on both the peripheral and central nervous systems.”

I remain neutral about everCore. (See electroCore stock charts on TipRanks)

The company’s gammaCore therapy is its first U.S. Food and Drug Administration (FDA) approved, non-invasive, hand-held medical therapy applied at the neck to treat migraines and cluster headaches.

everCore generates revenues through its gammaCore Sapphire flagship model; a portable, rechargeable, reusable, and reloadable option that can be self-administered by patients. This is a prescription-only model.

Last week, the company announced that the U.S. Patent and Trademark Office had issued a patent to the company “relating to devices, systems and methods integrated with, or coupled to, smartphones that allow patients to self-treat medical conditions, such as migraine headache, by electrical non-invasive stimulation of nerves.”

The company is looking at building an intellectual property (IP) portfolio centered around smartphone-connected and smartphone-integrated non-invasive therapy.

ECOR expects that this IP could be the foundation for combining the company’s nVNS therapy with application-based digital health platforms.

When it comes to the second quarter, the company earned revenues of $1.3 million, a jump of 69% year-over-year. ECOR’s adjusted EBITDA net loss narrowed to $4.1 million in Q2, versus a loss of $4.3 million in the same period of last year.

The company has focused on its sales efforts through two channels: the U.S. Department of Veterans Affairs and the U.S. Department of Defense, and the United Kingdom.

Dan Goldberger, CEO of electroCore, stated, “We saw continued progress in operating metrics across all our revenue channels. Our cash balance of $23.7 million at June 30, 2021, together with the approximately $18.8 million raised in our subsequent public offering and lower operating burn, puts the company in an excellent position to execute on its plan through 2022.”

When it comes to its Q3, ECOR has projected net revenues of $1.5 million and the usage of cash, net of financing activities, to be around $4.5 million.

Following the Q2 results, JMP Securities analyst David Turkaly reiterated a Hold rating on the stock.

According to Turkaly, the company’s Q2 results represented “modest incremental progress in its commercial and clinical efforts, including sequential growth within its VA/DoD [U.S. Department of Veterans Affairs and U.S. Department of Defense] channel (+15% over 1Q21), and a multitude of new investigator-initiated studies featuring its gammaCore technology.”

However, Turkaly is of the view that while ECOR’s proprietary gammaCore therapy has numerous advantages, “the company has yet to establish a secular growth profile and the physician adoption that is paramount to building a sustainable business.”

This could change with the patent obtained by everCore last week, as the company stated that the possibility of Remote Patient Monitoring or Remote Therapeutic Monitoring with the patent could “enable future business models and revenue streams for the company’s products.”

Turning to the rest of the Street, Wall Street analysts are bullish about electroCore, with a Strong Buy consensus rating, based on three Buys and one Hold.

The average electroCore price target of $3 implies 185.7% upside potential from current levels.

Disclosure: At the time of publication, Shrilekha Pethe did not have a position in any of the securities mentioned in this article​.

Disclaimer: The information contained in this article represents the views and opinion of the writer only, and not the views or opinion of TipRanks or its affiliates, and should be considered for informational purposes only. TipRanks makes no warranties about the completeness, accuracy or reliability of such information. Nothing in this article should be taken as a recommendation or solicitation to purchase or sell securities. Nothing in the article constitutes legal, professional, investment and/or financial advice and/or takes into account the specific needs and/or requirements of an individual, nor does any information in the article constitute a comprehensive or complete statement of the matters or subject discussed therein. TipRanks and its affiliates disclaim all liability or responsibility with respect to the content of the article, and any action taken upon the information in the article is at your own and sole risk. The link to this article does not constitute an endorsement or recommendation by TipRanks or its affiliates. Past performance is not indicative of future results, prices or performance.

The post electroCore: Could Patent Result in Commercial Success? appeared first on TipRanks Financial Blog.

Source : Tip Ranks More   

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