Nutanix (NASDAQ:NTNX) Price Target Raised to $75.00 at Bank of America

Nutanix (NASDAQ:NTNX) had its price objective lifted by research analysts at Bank of America from $72.00 to $75.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Bank of America‘s target price would suggest a potential upside of 43.43% from the company’s previous close.

Several other research analysts also recently issued reports on NTNX. Northland Securities downgraded Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 price objective for the company. in a research note on Thursday, May 30th. JPMorgan Chase & Co. cut their price target on shares of Nutanix from $80.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Northland Capmk downgraded Nutanix from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 30th. Raymond James raised their target price on Nutanix from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Finally, Morgan Stanley reduced their price target on Nutanix from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $70.92.

Nutanix Trading Down 1.7 %

NTNX opened at $52.29 on Thursday. The company has a market cap of $12.90 billion, a P/E ratio of -747.00, a PEG ratio of 4.45 and a beta of 1.16. The company’s 50 day moving average is $52.47 and its 200-day moving average is $58.65. Nutanix has a 1-year low of $30.26 and a 1-year high of $73.69.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.74% and a negative net margin of 0.57%. The company had revenue of $547.95 million for the quarter, compared to the consensus estimate of $537.12 million. On average, equities analysts forecast that Nutanix will post 0.12 EPS for the current year.

Insider Activity

In other Nutanix news, CEO Rajiv Ramaswami sold 23,986 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $1,299,801.34. Following the completion of the sale, the chief executive officer now owns 407,045 shares of the company’s stock, valued at $22,057,768.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO David Sangster sold 10,384 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total value of $562,708.96. Following the transaction, the chief operating officer now owns 64,333 shares in the company, valued at approximately $3,486,205.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajiv Ramaswami sold 23,986 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $1,299,801.34. Following the completion of the transaction, the chief executive officer now owns 407,045 shares of the company’s stock, valued at approximately $22,057,768.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,936 shares of company stock worth $2,531,273. Company insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Hedge funds have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Nutanix in the second quarter worth $25,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Nutanix in the 4th quarter worth about $29,000. GAMMA Investing LLC bought a new stake in Nutanix in the 4th quarter valued at about $30,000. Itau Unibanco Holding S.A. bought a new stake in Nutanix in the 2nd quarter valued at about $32,000. Finally, Kapitalo Investimentos Ltda bought a new position in Nutanix during the fourth quarter worth about $37,000. Institutional investors own 85.25% of the company’s stock.

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.