Nutanix Inc. (NTNX) Price Target Increased to $35.00 by Analysts at Bank of America Corporation
Nutanix Inc. (NASDAQ:NTNX) had its price objective boosted by equities research analysts at Bank of America Corporation from $30.00 to $35.00 in a note issued to investors on Monday. The firm presently has a “buy” rating on the technology company’s stock. Bank of America Corporation’s target price suggests a potential upside of 62.34% from the stock’s previous close.
A number of other equities research analysts also recently issued reports on the company. 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 report on Monday, May 22nd. William Blair reissued a “buy” rating on shares of Nutanix in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $34.00 price target on shares of Nutanix in a research report on Wednesday, July 5th. JMP Securities reissued an “outperform” rating and set a $35.00 price target on shares of Nutanix in a research report on Sunday, September 3rd. Finally, Maxim Group reissued a “buy” rating and set a $41.00 price target on shares of Nutanix in a research report on Friday, May 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $31.05.
Nutanix (NTNX) traded up 4.8270% during trading on Monday, reaching $22.6007. The company had a trading volume of 5,579,629 shares. The company’s market capitalization is $3.45 billion. Nutanix has a 12 month low of $14.38 and a 12 month high of $46.78. The firm’s 50 day moving average is $21.73 and its 200-day moving average is $24.83.
Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) EPS for the quarter, beating 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 company’s quarterly revenue was up 61.7% on a year-over-year basis. On average, equities analysts expect that Nutanix will post ($0.96) earnings per share for the current year.
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In related news, Director Jeffrey T. Parks sold 617,411 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $20.23, for a total value of $12,490,224.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Sudheesh Nair Vadakkedath sold 25,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $21.99, for a total value of $549,750.00. Following the completion of the transaction, the president now owns 110,519 shares in the company, valued at approximately $2,430,312.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,207,833 shares of company stock worth $47,214,826.
Large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in Nutanix by 6.3% during the second quarter. Public Employees Retirement System of Ohio now owns 135,605 shares of the technology company’s stock valued at $2,732,000 after buying an additional 8,066 shares in the last quarter. Fairfield Bush & CO. acquired a new stake in Nutanix during the second quarter valued at approximately $2,760,000. California State Teachers Retirement System raised its stake in Nutanix by 107.0% during the second quarter. California State Teachers Retirement System now owns 61,700 shares of the technology company’s stock valued at $1,243,000 after buying an additional 31,900 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Nutanix by 661.5% during the second quarter. The Manufacturers Life Insurance Company now owns 30,383 shares of the technology company’s stock valued at $612,000 after buying an additional 26,393 shares in the last quarter. Finally, State Street Corp raised its stake in Nutanix by 146.7% during the second quarter. State Street Corp now owns 547,995 shares of the technology company’s stock valued at $11,042,000 after buying an additional 325,821 shares in the last quarter. Institutional investors and hedge funds own 32.20% of the company’s stock.
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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