The Chart of the Day belongs to the cloud software company Nutanix (NTNX), states Jim Van Meerten of BarChart.com.
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 a Trend Seeker buy signal. I 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%.
NTNX Price vs Daily Moving Averages
Nutanix, Inc. provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyper converged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution.
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 a 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 five 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 seven strong buy, seven buy, and four 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 eight for the stock to beat the market with the most experienced investors voting 24 to one 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 four-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 every week.
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.
