Despite Downgrade, Vetr Crowd Remains Bullish On Nutanix After Analyst Nod

The Vetr crowd on Wednesday downgraded its rating on Nutanix, Inc. (NASDAQ;NTNX) from 5 stars (Strong Buy), issued 372 days ago, to 3.5 stars (Buy). Crowd sentiment at the time of the downgrade was still generally positive, with 66 percent of Vetr user ratings bullish.

Vetr's downgrade was spurred on by a 14.4 percent jump in share price following a recent note on the cloud data company from analysts with William Blair. The note indicated strong reseller data on the adoption of Nutanix products as the firm's reasoning behind increasing its price target to $34.

Shares of Nutanix were up to 2$6.66 by the end of Wednesday's session, finishing the day up by more than 4 percent

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Currently, the Vetr crowd's average price target on Nutanix is up at $27.22, which is still well below the average analyst price target of $33.17. Less than 2 percent of Vetr users are holding NTNX in their watch-lists.