Nutanix Inc. (NTNX) Rating Reiterated by Morgan Stanley
Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “equal weight” rating restated by analysts at Morgan Stanley in a note issued to investors on Sunday. They currently have a $22.00 target price on the technology company’s stock. Morgan Stanley’s target price would suggest a potential downside of 6.42% from the company’s current price.
A number of other equities analysts have also recently commented on the stock. Robert W. Baird reiterated a “buy” rating and issued a $31.00 target price (up previously from $28.00) on shares of Nutanix in a research report on Monday, September 25th. Maxim Group reissued a “buy” rating and issued a $41.00 price target on shares of Nutanix in a research note on Friday, September 22nd. Bank of America Corporation upped their price target on shares of Nutanix from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $28.00 price objective on shares of Nutanix in a research note on Thursday, September 14th. Finally, Zacks Investment Research raised Nutanix from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Nutanix has an average rating of “Buy” and an average price target of $31.19.
Shares of Nutanix (NASDAQ NTNX) opened at 23.51 on Friday. The company’s market cap is $3.64 billion. Nutanix has a 52 week low of $21.21 and a 52 week high of $43.40. The company has a 50 day moving average of $22.60 and a 200 day moving average of $22.60.
Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.05. Nutanix had a negative net margin of 59.72% and a negative return on equity of 295.56%. The firm had revenue of $226.10 million during the quarter, compared to analyst estimates of $216.00 million. The firm’s revenue was up 61.7% on a year-over-year basis. On average, analysts expect that Nutanix will post ($0.94) EPS for the current year.
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In other news, Director Jeffrey T. Parks sold 1,234,822 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $21.97, for a total value of $27,129,039.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sunil Potti sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $22.57, for a total transaction of $225,700.00. Following the completion of the sale, the insider now directly owns 131,382 shares of the company’s stock, valued at $2,965,291.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,594,713 shares of company stock worth $35,018,459.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Nutanix by 6.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 135,605 shares of the technology company’s stock valued at $2,732,000 after purchasing an additional 8,066 shares in the last quarter. Fairfield Bush & CO. purchased a new position in shares of Nutanix during the second quarter valued at about $2,760,000. California State Teachers Retirement System raised its stake in Nutanix by 107.0% in the second quarter. California State Teachers Retirement System now owns 61,700 shares of the technology company’s stock worth $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% in the second quarter. The Manufacturers Life Insurance Company now owns 30,383 shares of the technology company’s stock worth $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% in the second quarter. State Street Corp now owns 547,995 shares of the technology company’s stock worth $11,042,000 after buying an additional 325,821 shares in the last quarter. 31.48% of the stock is currently owned by hedge funds and other 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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