Morgan Stanley Boosts Nutanix (NASDAQ:NTNX) Price Target to $71.00

Nutanix (NASDAQ:NTNX) had its target price lifted by investment analysts at Morgan Stanley from $62.00 to $71.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price would suggest a potential upside of 14.72% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the company. Northland Securities lowered Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 target price on the stock. in a research note on Thursday, May 30th. Royal Bank of Canada boosted their price target on Nutanix from $72.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. Northland Capmk lowered Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 30th. 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. Finally, Raymond James upped their price objective on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Nutanix currently has a consensus rating of “Moderate Buy” and an average target price of $73.38.

Nutanix Trading Up 18.4 %

Shares of NTNX stock traded up $9.60 during mid-day trading on Thursday, reaching $61.89. The stock had a trading volume of 741,189 shares, compared to its average volume of 2,661,921. The company has a market cap of $15.26 billion, a P/E ratio of -881.14, a price-to-earnings-growth ratio of 4.45 and a beta of 1.16. Nutanix has a 12-month low of $30.26 and a 12-month high of $73.69. The business has a 50-day simple moving average of $52.47 and a 200 day simple moving average of $58.65.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The firm had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. Nutanix had a negative net margin of 0.57% and a negative return on equity of 7.74%. Research analysts anticipate that Nutanix will post 0.12 EPS for the current year.

Insider Activity

In related news, COO David Sangster sold 10,384 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the completion of the sale, the chief operating officer now directly owns 64,333 shares in the company, valued at approximately $3,486,205.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO David Sangster sold 10,384 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $562,708.96. Following the transaction, the chief operating officer now directly owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the sale, the chief financial officer now directly owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The disclosure for this sale can be found here. Insiders have sold 46,936 shares of company stock valued at $2,531,273 in the last three months. Corporate insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTNX. FIL Ltd increased its holdings in Nutanix by 74.7% during the 4th quarter. FIL Ltd now owns 8,908,166 shares of the technology company’s stock worth $424,830,000 after purchasing an additional 3,809,981 shares during the last quarter. Norges Bank acquired a new position in Nutanix during the 4th quarter worth $137,465,000. Nordea Investment Management AB increased its position in shares of Nutanix by 387.1% in the 1st quarter. Nordea Investment Management AB now owns 2,612,812 shares of the technology company’s stock worth $162,229,000 after purchasing an additional 2,076,377 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Nutanix by 29.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,358,768 shares of the technology company’s stock valued at $269,024,000 after purchasing an additional 985,421 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its position in shares of Nutanix by 123.9% during the second quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock worth $81,593,000 after purchasing an additional 794,215 shares during the last quarter. Institutional investors and hedge funds 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.