Nutanix (NASDAQ:NTNX) Receives $91.00 Average Target Price from Brokerages

Nutanix (NASDAQ:NTNX) has earned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $91.00.

Several equities analysts recently issued reports on the stock. Susquehanna upped their price objective on shares of Nutanix from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Thursday, May 29th. Morgan Stanley reissued an “overweight” rating and set a $90.00 price objective (up previously from $75.00) on shares of Nutanix in a research note on Tuesday, May 20th. KeyCorp began coverage on shares of Nutanix in a research note on Thursday, June 26th. They set an “overweight” rating and a $95.00 price objective on the stock. Citigroup raised shares of Nutanix to a “positive” rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating in a research note on Monday, June 30th.

Nutanix Stock Performance

Shares of NTNX opened at $68.79 on Thursday. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 140.39, a PEG ratio of 4.54 and a beta of 0.71. The company’s 50 day simple moving average is $73.35 and its 200 day simple moving average is $72.00. Nutanix has a 1 year low of $52.18 and a 1 year high of $83.36.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, June 4th. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.04. The business had revenue of $638.98 million for the quarter, compared to the consensus estimate of $626.12 million. Nutanix had a net margin of 0.97% and a negative return on equity of 21.32%. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 earnings per share. Equities analysts expect that Nutanix will post 0.31 EPS for the current fiscal year.

Insider Activity at Nutanix

In other Nutanix news, CEO Rajiv Ramaswami sold 1,925 shares of the stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $75.00, for a total transaction of $144,375.00. Following the transaction, the chief executive officer owned 518,561 shares of the company’s stock, valued at $38,892,075. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Virginia Gambale sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $78.00, for a total transaction of $546,000.00. Following the transaction, the director directly owned 38,330 shares in the company, valued at approximately $2,989,740. This represents a 15.44% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,491,492 shares of company stock worth $421,797,778. Company insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of large investors have recently bought and sold shares of NTNX. Earned Wealth Advisors LLC raised its holdings in shares of Nutanix by 3.8% in the 2nd quarter. Earned Wealth Advisors LLC now owns 3,915 shares of the technology company’s stock worth $299,000 after purchasing an additional 142 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Nutanix by 13.2% in the 4th quarter. True Wealth Design LLC now owns 1,249 shares of the technology company’s stock worth $76,000 after purchasing an additional 146 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of Nutanix by 6.4% in the 2nd quarter. SBI Securities Co. Ltd. now owns 2,453 shares of the technology company’s stock worth $188,000 after purchasing an additional 148 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Nutanix by 42.6% in the second quarter. Farther Finance Advisors LLC now owns 502 shares of the technology company’s stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, Simmons Bank increased its position in shares of Nutanix by 2.1% in the second quarter. Simmons Bank now owns 7,295 shares of the technology company’s stock worth $558,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers’ enterprise infrastructure.