Nutanix, Inc. (NASDAQ:NTNX) Receives $42.18 Average Price Target from Brokerages

Nutanix, Inc. (NASDAQ:NTNXGet Rating) has been given a consensus recommendation of “Buy” by the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $42.18.

NTNX has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on shares of Nutanix in a research report on Tuesday, January 18th. They issued an “overweight” rating and a $39.00 price target on the stock. Needham & Company LLC lowered their price objective on shares of Nutanix from $71.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, March 3rd. StockNews.com started coverage on shares of Nutanix in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley lowered their price objective on shares of Nutanix from $32.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 12th. Finally, Wells Fargo & Company lowered their price objective on shares of Nutanix from $40.00 to $35.00 and set an “equal weight” rating for the company in a research note on Thursday, March 3rd.

Shares of NASDAQ NTNX opened at $26.01 on Thursday. The company has a market capitalization of $5.74 billion, a P/E ratio of -5.46 and a beta of 1.55. Nutanix has a 52-week low of $21.99 and a 52-week high of $44.50. The company’s 50 day moving average price is $25.93 and its 200-day moving average price is $30.31.

Nutanix (NASDAQ:NTNXGet Rating) last issued its quarterly earnings results on Wednesday, March 2nd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.14. The firm had revenue of $413.08 million during the quarter, compared to analyst estimates of $406.75 million. The firm’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.79) EPS. On average, sell-side analysts expect that Nutanix will post -2.34 earnings per share for the current year.

In other Nutanix news, CAO Aaron Boynton sold 2,851 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $23.78, for a total transaction of $67,796.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rajiv Ramaswami sold 5,000 shares of the company’s stock in a transaction on Friday, March 18th. The stock was sold at an average price of $24.72, for a total transaction of $123,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,652 shares of company stock valued at $1,970,165 in the last 90 days. 0.92% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of NTNX. Norges Bank purchased a new position in shares of Nutanix in the 4th quarter worth about $68,740,000. Woodline Partners LP lifted its holdings in Nutanix by 1,643.6% during the fourth quarter. Woodline Partners LP now owns 1,478,004 shares of the technology company’s stock valued at $47,089,000 after purchasing an additional 1,393,239 shares during the last quarter. Shelter Haven Capital Management L.P. lifted its holdings in Nutanix by 198.9% during the third quarter. Shelter Haven Capital Management L.P. now owns 1,465,136 shares of the technology company’s stock valued at $55,236,000 after purchasing an additional 974,948 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Nutanix by 81.4% during the third quarter. Two Sigma Advisers LP now owns 2,141,935 shares of the technology company’s stock valued at $80,751,000 after purchasing an additional 960,900 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in Nutanix by 10.6% during the fourth quarter. BlackRock Inc. now owns 9,585,428 shares of the technology company’s stock valued at $305,392,000 after purchasing an additional 920,283 shares during the last quarter. 74.27% of the stock is currently owned by institutional investors.

Nutanix Company Profile (Get Rating)

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers Acropolis converges virtualization, enterprise storage services, and networking visualization and security services; Acropolis Hypervisor, an enterprise-grade virtualization solution; Nutanix Karbon for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments; and Nutanix Clusters solution.

Read More

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.