Nutanix Inc. (NTNX) Earns Buy Rating from Robert W. Baird
Robert W. Baird reiterated their buy rating on shares of Nutanix Inc. (NASDAQ:NTNX) in a research note released on Monday. They currently have a $31.00 price objective on the technology company’s stock, up from their previous price objective of $28.00.
Other equities analysts also recently issued research reports about the company. BTIG Research reiterated a neutral rating on shares of Nutanix in a report on Monday, July 3rd. Maxim Group restated a buy rating and set a $41.00 price target on shares of Nutanix in a report on Saturday, June 3rd. Piper Jaffray Companies restated an overweight rating and set a $28.00 price target on shares of Nutanix in a report on Thursday, September 14th. Royal Bank Of Canada restated an outperform rating and set a $34.00 price target on shares of Nutanix in a report on Friday, June 30th. Finally, Jefferies Group LLC assumed coverage on Nutanix in a report on Thursday, August 17th. They set a buy rating and a $30.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $31.19.
Shares of Nutanix (NASDAQ:NTNX) opened at 22.50 on Monday. The company’s market cap is $3.49 billion. The firm’s 50-day moving average is $21.91 and its 200-day moving average is $21.91. Nutanix has a 52 week low of $21.21 and a 52 week high of $46.78.
Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $226.10 million during the quarter, compared to the consensus estimate of $216.00 million. Nutanix had a negative return on equity of 295.56% and a negative net margin of 59.72%. The business’s revenue for the quarter was up 61.7% on a year-over-year basis. Equities research analysts predict that Nutanix will post ($0.94) earnings per share for the current year.
In related news, Director Jeffrey T. Parks sold 1,234,822 shares of the stock in a transaction on Friday, July 14th. The stock was sold at an average price of $21.97, for a total transaction of $27,129,039.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Rajiv Mirani sold 20,000 shares of the stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $19.63, for a total value of $392,600.00. Following the sale, the senior vice president now directly owns 271,000 shares in the company, valued at $5,319,730. The disclosure for this sale can be found here. Insiders have sold 1,594,713 shares of company stock worth $35,018,459 over the last ninety days.
Several institutional investors have recently added to or reduced their stakes in NTNX. Wells Fargo & Company MN boosted its position in shares of 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 last quarter. Bank of New York Mellon Corp boosted its position in Nutanix by 31.0% in the first quarter. Bank of New York Mellon Corp now owns 42,718 shares of the technology company’s stock worth $802,000 after purchasing an additional 10,119 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Nutanix by 70.2% in the first quarter. Ameriprise Financial Inc. now owns 155,418 shares of the technology company’s stock worth $2,916,000 after purchasing an additional 64,102 shares during the last quarter. Aberdeen Asset Management PLC UK purchased a new position in Nutanix in the first quarter worth about $817,000. Finally, Quantbot Technologies LP boosted its position in Nutanix by 66.5% in the first quarter. Quantbot Technologies LP now owns 14,202 shares of the technology company’s stock worth $266,000 after purchasing an additional 5,673 shares during the last quarter. 32.20% of the stock is currently owned by institutional investors.
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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