Analysts Set Nutanix Inc. (NTNX) Price Target at $30.96
Nutanix Inc. (NASDAQ:NTNX) has received an average recommendation of “Buy” from the twenty-five research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $30.69.
NTNX has been the subject of a number of research reports. Robert W. Baird set a $28.00 price target on Nutanix and gave the company a “buy” rating in a research note on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) raised Nutanix from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Monday, May 22nd. Piper Jaffray Companies set a $27.00 price target on Nutanix and gave the company a “buy” rating in a research note on Saturday, May 27th. Maxim Group reissued a “buy” rating and set a $41.00 price target on shares of Nutanix in a research note on Friday, May 26th. Finally, Bank of America Corporation reissued a “buy” rating and set a $27.00 price target on shares of Nutanix in a research note on Tuesday, May 30th.
In other news, SVP Rajiv Mirani sold 4,600 shares of the stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $20.02, for a total value of $92,092.00. Following the sale, the senior vice president now directly owns 255,600 shares in the company, valued at $5,117,112. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP David Sangster sold 5,890 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $18.06, for a total value of $106,373.40. Following the completion of the sale, the executive vice president now owns 114,500 shares in the company, valued at $2,067,870. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,243,967 shares of company stock worth $47,263,903.
Several hedge funds and other institutional investors have recently modified their holdings of NTNX. Legal & General Group Plc raised its holdings in shares of Nutanix by 3,147.6% in the second quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after buying an additional 8,530 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Nutanix in the second quarter worth approximately $186,000. First American Bank purchased a new stake in shares of Nutanix in the second quarter worth approximately $205,000. PNC Financial Services Group Inc. purchased a new stake in shares of Nutanix in the second quarter worth approximately $208,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Nutanix in the first quarter worth approximately $211,000. Hedge funds and other institutional investors own 32.20% of the company’s stock.
Shares of Nutanix (NASDAQ NTNX) traded down 1.94% on Tuesday, reaching $21.73. The company’s stock had a trading volume of 1,844,554 shares. The company’s 50-day moving average is $22.00 and its 200 day moving average is $20.06. Nutanix has a 12-month low of $14.38 and a 12-month high of $46.78. The company’s market capitalization is $3.29 billion.
Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Thursday, August 31st. The technology company reported ($0.33) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. Nutanix had a negative return on equity of 248.46% and a negative net margin of 59.72%. The company had revenue of $226.10 million during the quarter, compared to analyst estimates of $216 million. Nutanix’s revenue was up 61.7% on a year-over-year basis. Equities analysts anticipate that Nutanix will post ($1.00) earnings per share for the current fiscal year.
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Nutanix Company Profile
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
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