Quiet Period Expiration Releases Flood Of New Analyst Coverage On Nutanix

Nutanix Inc NTNX, a provider of an enterprise cloud platform, saw its shares trade for the first time on the public market on September 30. Nutanix's stock opened trading at $26.50 after pricing its IPO at $16 per share.

On Wednesday, shares opened at $29.40, and after one hour, the stock lost more than 1 percent to trade at $28.81.

After a stock begins trading on a public exchange, banks that participated in the initial public offering are not permitted to issue ratings or guidance on the very same stock they helped issue for a period of 10 days, although most banks typically wait 25 days.

Nutanix's quiet period ended this week, and many Wall Street research firms released their initial take on the stock and its outlook.

Here is a summary of research firms and banks that initiated coverage of Nutanix:

• Credit Suisse: Outperform rating, $38 price target.
• Goldman Sachs: Neutral rating, $30 price target.
• JPMorgan: Neutral rating, $33 price target.
• Morgan Stanley: Equal-Weight rating, $27 price target.
• Needham: Buy rating, $36 price target.
• Piper Jaffray: Overweight rating, $36 price target.
• Raymond James: Market Perform rating.
• RBC Capital Markets: Outperform rating, $36 price target.
• Stifel Nicolaus: Hold rating.
• William Blair: Outperform rating.

At last check, Nutanix was trading flat on the day at $29.12.