Nutanix (NASDAQ:NTNX) Price Target Raised to $39.00 at Bank of America

Nutanix (NASDAQ:NTNX) had its price objective hoisted by Bank of America from $34.00 to $39.00 in a report released on Friday morning, FlyOnTheWall reports.

A number of other research firms also recently issued reports on NTNX. Northland Securities increased their target price on shares of Nutanix from $34.00 to $39.00 in a research report on Thursday, May 25th. StockNews.com started coverage on shares of Nutanix in a research note on Thursday, August 17th. They issued a buy rating on the stock. Royal Bank of Canada lifted their target price on shares of Nutanix from $33.00 to $38.00 in a report on Thursday, May 25th. OTR Global downgraded Nutanix to a positive rating in a report on Thursday, May 18th. Finally, KeyCorp reduced their price objective on Nutanix from $38.00 to $35.00 and set an overweight rating on the stock in a research note on Friday, August 11th. Two analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Nutanix has a consensus rating of Moderate Buy and a consensus price target of $37.69.

Nutanix Trading Up 12.2 %

NTNX stock opened at $34.90 on Friday. The company has a market cap of $8.23 billion, a PE ratio of -19.83 and a beta of 1.32. The stock has a 50-day moving average price of $29.46 and a two-hundred day moving average price of $27.59. Nutanix has a 12-month low of $19.96 and a 12-month high of $36.50.

Institutional Trading of Nutanix

Institutional investors have recently added to or reduced their stakes in the stock. Altshuler Shaham Ltd bought a new stake in shares of Nutanix in the 1st quarter worth about $30,000. EverSource Wealth Advisors LLC bought a new stake in Nutanix in the fourth quarter valued at about $33,000. Point72 Hong Kong Ltd acquired a new stake in Nutanix during the first quarter valued at approximately $35,000. Coppell Advisory Solutions Corp. bought a new position in Nutanix during the 4th quarter worth approximately $47,000. Finally, Belpointe Asset Management LLC acquired a new position in shares of Nutanix in the 4th quarter worth approximately $49,000. 78.74% of the stock is owned by institutional investors and hedge funds.

Nutanix Company Profile

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.