Needham & Company LLC Boosts Nutanix (NASDAQ:NTNX) Price Target to $72.00

Nutanix (NASDAQ:NTNXFree Report) had its price objective boosted by Needham & Company LLC from $62.00 to $72.00 in a research report report published on Thursday morning, Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

Several other brokerages have also commented on NTNX. Wells Fargo & Company raised their price target on Nutanix from $35.00 to $42.00 and gave the company an equal weight rating in a research note on Thursday, November 30th. Morgan Stanley raised their price target on Nutanix from $38.00 to $50.00 and gave the company an equal weight rating in a research note on Thursday, November 30th. TheStreet lowered Nutanix from a c rating to a d rating in a research note on Wednesday, November 29th. JPMorgan Chase & Co. lifted their target price on Nutanix from $54.00 to $65.00 and gave the company an overweight rating in a research note on Monday, February 26th. Finally, Royal Bank of Canada lifted their target price on Nutanix from $47.00 to $54.00 and gave the company an outperform rating in a research note on Thursday, November 30th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $62.83.

View Our Latest Analysis on NTNX

Nutanix Trading Up 2.0 %

NASDAQ:NTNX opened at $64.40 on Thursday. Nutanix has a twelve month low of $23.34 and a twelve month high of $65.83. The company has a market cap of $15.63 billion, a price-to-earnings ratio of -178.89 and a beta of 1.29. The stock has a fifty day simple moving average of $53.98 and a 200-day simple moving average of $43.40.

Nutanix (NASDAQ:NTNXGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. The firm had revenue of $565.23 million for the quarter, compared to analysts’ expectations of $551.82 million. As a group, equities research analysts predict that Nutanix will post -0.19 EPS for the current fiscal year.

Insider Transactions at Nutanix

In other news, COO David Sangster sold 10,616 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $46.04, for a total transaction of $488,760.64. Following the sale, the chief operating officer now owns 68,471 shares in the company, valued at $3,152,404.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Rajiv Ramaswami sold 87,174 shares of Nutanix stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $46.04, for a total transaction of $4,013,490.96. Following the completion of the sale, the chief executive officer now owns 299,328 shares of the company’s stock, valued at $13,781,061.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Sangster sold 10,616 shares of Nutanix stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $46.04, for a total value of $488,760.64. Following the sale, the chief operating officer now directly owns 68,471 shares of the company’s stock, valued at approximately $3,152,404.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,229 shares of company stock worth $7,276,868. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of institutional investors and hedge funds have recently modified their holdings of NTNX. Bank of New York Mellon Corp lifted its holdings in shares of Nutanix by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 706,101 shares of the technology company’s stock worth $18,938,000 after purchasing an additional 13,696 shares during the period. Bank of Montreal Can lifted its holdings in Nutanix by 57.0% in the first quarter. Bank of Montreal Can now owns 108,342 shares of the technology company’s stock valued at $2,939,000 after acquiring an additional 39,341 shares during the period. MetLife Investment Management LLC acquired a new position in Nutanix in the first quarter valued at approximately $371,000. BlackRock Inc. lifted its holdings in Nutanix by 1.2% in the first quarter. BlackRock Inc. now owns 9,703,410 shares of the technology company’s stock valued at $260,245,000 after acquiring an additional 117,982 shares during the period. Finally, Blair William & Co. IL lifted its holdings in Nutanix by 12.4% in the first quarter. Blair William & Co. IL now owns 296,205 shares of the technology company’s stock valued at $7,944,000 after acquiring an additional 32,566 shares during the period. Institutional investors and hedge funds own 78.74% of the company’s stock.

About Nutanix

(Get Free Report)

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.

Featured Stories

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

Receive News & Ratings for Nutanix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutanix and related companies with MarketBeat.com's FREE daily email newsletter.