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

by · The Cerbat Gem

Nutanix, Inc. (NASDAQ:NTNX – Get Free Report) has been given an average recommendation of “Moderate Buy” by the fifteen brokerages that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $73.31.

A number of research analysts have commented on the stock. Piper Sandler raised their target price on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Barclays lifted their price objective on shares of Nutanix from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Northland Securities boosted their price objective on shares of Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their price target on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Bank of America boosted their price target on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

View Our Latest Analysis on NTNX

Insider Activity at Nutanix

In other Nutanix news, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Nutanix news, COO David Sangster sold 11,950 shares of the company’s stock in a transaction dated 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 owns 123,868 shares in the company, valued at approximately $7,411,022.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the transaction, 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. 0.46% of the stock is owned by insiders.

Institutional Trading of Nutanix

Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Nutanix in the fourth quarter valued at about $539,000. Allianz Asset Management GmbH lifted its position in Nutanix by 17.8% during the fourth quarter. Allianz Asset Management GmbH now owns 220,593 shares of the technology company’s stock worth $10,520,000 after buying an additional 33,269 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in Nutanix by 34.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 135,437 shares of the technology company’s stock worth $6,459,000 after buying an additional 34,550 shares in the last quarter. TFO Wealth Partners LLC boosted its stake in Nutanix by 61,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 3,095 shares of the technology company’s stock worth $148,000 after buying an additional 3,090 shares during the last quarter. Finally, Eagle Asset Management Inc. purchased a new stake in Nutanix in the 4th quarter valued at $1,336,000. 85.25% of the stock is owned by institutional investors and hedge funds.

Nutanix Stock Up 2.6 %

Shares of NASDAQ:NTNX opened at $60.92 on Monday. The business’s 50 day moving average is $55.88 and its 200 day moving average is $58.50. The stock has a market cap of $15.03 billion, a P/E ratio of -870.29, a price-to-earnings-growth ratio of 12.23 and a beta of 1.18. Nutanix has a 52-week low of $33.96 and a 52-week high of $73.69.

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

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.

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