Today’s Research Reports on Stocks to Watch: Nutanix and NetApp
NEW YORK, NY / ACCESSWIRE / July 17, 2017 / Shares of Sunnyvale-based company NetApp saw big gains on Friday, helping the stock to the top of the S&P 500, after Goldman Sachs added the stock to its conviction buy list. Goldman Sachs also helped shares of Nutanix head higher after it added the stock as well to its conviction buy list.
RDI Initiates Coverage on:
Nutanix, Inc.
https://ub.rdinvesting.com/news/?ticker=NTNX
NetApp, Inc.
https://ub.rdinvesting.com/news/?ticker=NTAP
Nutanix, Inc.'s shares closed up 9.13% on Friday on trading volume roughly three times higher than normal. Goldman Sachs has added the stock to its conviction buy list with the lead analyst on the note, Simona Jankowski, stating that the company is a "once-in-a-decade tech infrastructure story." The firm has an estimated 53% return potential to their $31 price target. Jankowski wrote, "We estimate that the new accounting methodology could increase FY18/FY19 revenues by 12%/13%." According to Jankowski, the company is poised for growth as the leader in hyperconverged infrastructure. Hyperconverged infrastructure is fully software-defined IT infrastructure that virtualizes all of the elements of conventional 'hardware-defined' systems. Jankowski has noted that it uses software to combine different storage and computing function on one device. A Goldman Sachs survey has revealed that more businesses are intending on adding the technology and 18% of chief information officers expect the move to hyperconverged systems in the next two years. Nutanix' average rating on FactSet is "overweight" with a $28.44 price target.
Access RDI's Nutanix, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=NTNX
NetApp, Inc.'s shares saw modestly big gains on Friday, closing up 5.46%. The stock even hit a new high of $43.90 during intra-day trading on trading volume nearly three times as high as usual. So why the big moves? Goldman Sachs has upgraded the stock to the firm's Conviction Buy List. Analyst Simona Jankowski has added NetApp to the list and has even upped the firm's price target from $46 to $47. According to Jankowski, there is meaningful upside to estimate as the American multinational storage and data management company returns to sustainable top-line growth. According to the analyst, there is room for 3% operating margin expansion over the next 3 years on operating leverage as well as gross margin recovery. Shares of NetApp have seen a gain of 23.7% since the year started.
Access RDI's NetApp, Inc. Research Report at:
https://ub.rdinvesting.com/news/?ticker=NTAP
Our Actionable Research on Nutanix, Inc. (NASDAQ: NTNX) and NetApp, Inc. (NASDAQ: NTAP) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com
