The Chart of the Day belongs to the cloud software company Nutanix (NTNX). I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/ 8 the stock gained 19.25%.
Nutanix, Inc. provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters. It also provides Nutanix Cloud Management that provides management, capacity planning, operational analytics, automated remediation, self-service, and one-click administration; cloud governance; and automation services that streamline application lifecycle management, provide self-service for infrastructure and applications, and deliver multicloud orchestration. In addition, the company offers Nutanix Files, an enterprise-grade network file system and server message block files services; Nutanix Objects, a S3-compatible object services; Nutanix Data Lens, a data security governance solution; and Nutanix database service that provides automated database management to simplify database administration and to manage database copies. Further, it provides product support, and consulting and implementation services. The company serves customers in a range of industries, including automotive, consumer goods, education, energy, financial services, healthcare, manufacturing, media, public sector, retail, technology, and telecommunications, as well as service providers. Nutanix, Inc. was incorporated in 2009 and is headquartered in San Jose, California.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart Technical Indicators:
- 100% technical buy signals
- 129.53+ Weighted Alpha
- 108.96% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50 and 100 day moving averages
- 12 new highs and up 18.54% in the last month
- Relative Strength Index 85.86%
- Technical support level at $53.89
- Recently traded at $56.00 with 50 day moving average of $45.10
Fundamental Factors:
- Market Cap $13.32 billion
- Wall Street projects Revenue will grow 13.70% this year and another 17.30% next year
- Earnings are estimated to increase 53.30% this year, an additional 39.10% next year but continue to decrease at an annual rate of 38.50% for the next 5 years
Analysts and Investor Sentiment -- I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts issued 7 strong buy, 7 buy and 4 hold recommendations last month
- Analysts price targets are $35 to $62 with a consensus of $52 which is $4 below today's close
- The individual investors following the stock on Motley Fool voted 163 to 8 for the stock to beat the market with the most experienced investors voting 24 to 1 for the same result
- Value Line gives the stock its above average rating of 2 but has an 18 month price target of $40 for a 25% loss from today's close
- CFRAs MarketScope has a 4 star buy rating but a 12 month price target of $47 which is $9 below Monday's close
- 29,710 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least on a weekly basis.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
