Piper Jaffray Companies Reiterates Overweight Rating for Nutanix Inc. (NTNX)
Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “overweight” rating restated by research analysts at Piper Jaffray Companies in a note issued to investors on Thursday. They currently have a $28.00 price target on the technology company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 29.87% from the company’s previous close.
A number of other research firms also recently issued reports on NTNX. Maxim Group reissued a “buy” rating and issued a $41.00 target price on shares of Nutanix in a research report on Friday, May 26th. Jefferies Group LLC started coverage on Nutanix in a research report on Thursday, August 17th. They issued a “buy” rating and a $30.00 target price for the company. Pacific Crest reissued an “overweight” rating and issued a $30.00 target price on shares of Nutanix in a research report on Tuesday, May 30th. Stifel Nicolaus reissued a “neutral – hold” rating on shares of Nutanix in a research report on Friday, June 30th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $34.00 target price on shares of Nutanix in a research report on Sunday, May 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.69.
Shares of Nutanix (NASDAQ NTNX) opened at 21.56 on Thursday. The company has a 50-day moving average price of $21.73 and a 200 day moving average price of $24.83. Nutanix has a 1-year low of $21.21 and a 1-year high of $46.78. The company’s market capitalization is $3.29 billion.
Nutanix (NASDAQ:NTNX) last released its earnings results on Thursday, August 31st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $226.10 million during the quarter, compared to the consensus estimate of $216.00 million. The firm’s quarterly revenue was up 61.7% compared to the same quarter last year. Equities research analysts anticipate that Nutanix will post ($0.96) EPS for the current year.
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In related news, EVP David Sangster sold 5,890 shares of Nutanix stock in a transaction on Monday, June 19th. The stock was sold at an average price of $18.06, for a total transaction of $106,373.40. Following the completion of the sale, the executive vice president now owns 114,500 shares of the company’s stock, valued at $2,067,870. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Parks sold 1,234,822 shares of Nutanix stock in a transaction on Friday, July 14th. The shares were sold at an average price of $21.97, for a total value of $27,129,039.34. The disclosure for this sale can be found here. Insiders have sold 2,213,723 shares of company stock valued at $47,321,199 in the last three months.
A number of large investors have recently bought and sold shares of NTNX. Wells Fargo & Company MN boosted its stake in Nutanix by 30.7% during the first quarter. Wells Fargo & Company MN now owns 60,584 shares of the technology company’s stock valued at $1,137,000 after buying an additional 14,233 shares during the period. Bank of New York Mellon Corp boosted its stake in Nutanix by 31.0% during the first quarter. Bank of New York Mellon Corp now owns 42,718 shares of the technology company’s stock valued at $802,000 after buying an additional 10,119 shares during the period. Ameriprise Financial Inc. boosted its stake in Nutanix by 70.2% during the first quarter. Ameriprise Financial Inc. now owns 155,418 shares of the technology company’s stock valued at $2,916,000 after buying an additional 64,102 shares during the period. Aberdeen Asset Management PLC UK bought a new stake in Nutanix during the first quarter valued at $817,000. Finally, Quantbot Technologies LP boosted its stake in Nutanix by 66.5% during the first quarter. Quantbot Technologies LP now owns 14,202 shares of the technology company’s stock valued at $266,000 after buying an additional 5,673 shares during the period. 32.20% of the stock is owned by institutional investors.
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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