Nutanix, Inc. (NASDAQ:NTNX) Given Consensus Recommendation of “Buy” by Brokerages

Nutanix, Inc. (NASDAQ:NTNX – Get Rating) has been assigned an average recommendation of “Buy” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $42.60.

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

In other news, insider Tyler Wall sold 4,563 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $23.78, for a total transaction of $108,508.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rajiv Ramaswami sold 46,233 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $23.78, for a total transaction of $1,099,420.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,652 shares of company stock valued at $1,970,165. 0.92% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $32,000. IndexIQ Advisors LLC acquired a new stake in shares of Nutanix during the 1st quarter worth approximately $33,000. Carroll Investors Inc acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $42,000. O Shaughnessy Asset Management LLC increased its holdings in shares of Nutanix by 26.4% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,537 shares of the technology company’s stock worth $58,000 after buying an additional 321 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Nutanix during the 4th quarter worth approximately $59,000. Institutional investors and hedge funds own 70.43% of the company’s stock.

NTNX stock opened at $22.64 on Monday. The company’s 50-day simple moving average is $25.72 and its 200-day simple moving average is $29.13. Nutanix has a 52-week low of $21.99 and a 52-week high of $44.50. The firm has a market cap of $4.99 billion, a P/E ratio of -4.94 and a beta of 1.50.

Nutanix (NASDAQ:NTNX – Get Rating) last posted its earnings results on Wednesday, March 2nd. The technology company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.27. The firm had revenue of $413.08 million for the quarter, compared to analysts’ expectations of $406.75 million. During the same period in the previous year, the company earned ($0.79) earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. On average, research analysts expect that Nutanix will post -2.34 EPS for the current year.

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.

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