Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $73.31

Nutanix, Inc. (NASDAQ:NTNX) has earned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $73.31.

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Barclays upped their target price on Nutanix from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Northland Securities boosted their price objective on Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Finally, Raymond James increased their target price on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th.

Nutanix Price Performance

Shares of NTNX stock opened at $61.59 on Friday. Nutanix has a 12 month low of $34.40 and a 12 month high of $73.69. The firm has a market capitalization of $16.33 billion, a P/E ratio of -118.44, a P/E/G ratio of 12.44 and a beta of 1.18. The company’s fifty day moving average price is $59.91 and its two-hundred day moving average price is $58.48.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The firm had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. On average, sell-side analysts anticipate that Nutanix will post 0.27 EPS for the current year.

Insider Activity

In other news, COO David Sangster sold 11,950 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the sale, the chief financial officer now owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Hedge Funds Weigh In On Nutanix

Large investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Nutanix during the second quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in shares of Nutanix in the third quarter valued at $27,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Nutanix during the 2nd quarter valued at $32,000. GAMMA Investing LLC lifted its position in shares of Nutanix by 35.2% during the 2nd quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock valued at $53,000 after acquiring an additional 243 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Nutanix by 57.8% during the 3rd quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock worth $57,000 after acquiring an additional 350 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.