Nutanix, Inc. (NASDAQ:NTNX) Receives $73.86 Average Target Price from Brokerages

Nutanix, Inc. (NASDAQ:NTNX) has been assigned an average rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $73.86.

NTNX has been the topic of a number of recent analyst reports. Northland Securities boosted their price objective on shares of Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Piper Sandler raised their price objective on shares of Nutanix from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Royal Bank of Canada upped their target price on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Oppenheimer initiated coverage on shares of Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target on the stock. Finally, Bank of America boosted their price objective on Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 29th.

Nutanix Price Performance

NASDAQ:NTNX opened at $70.95 on Tuesday. Nutanix has a 12 month low of $40.20 and a 12 month high of $73.69. The business’s 50-day moving average is $63.41 and its two-hundred day moving average is $59.23. The firm has a market capitalization of $18.82 billion, a PE ratio of -136.44, a price-to-earnings-growth ratio of 13.01 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. Equities analysts anticipate that Nutanix will post 0.27 EPS for the current year.

Insider Activity at Nutanix

In related news, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares of the company’s stock, valued at $11,309,145.65. This trade represents a 11.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Hedge Funds Weigh In On Nutanix

A number of institutional investors and hedge funds have recently bought and sold shares of NTNX. Cetera Investment Advisers increased its position in shares of Nutanix by 48.7% during the 1st quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock valued at $4,697,000 after purchasing an additional 24,918 shares during the period. Diversified Trust Co increased its holdings in shares of Nutanix by 46.7% in the second quarter. Diversified Trust Co now owns 36,666 shares of the technology company’s stock valued at $2,084,000 after buying an additional 11,668 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Nutanix by 1.4% during the first quarter. Vanguard Group Inc. now owns 25,087,143 shares of the technology company’s stock valued at $1,548,378,000 after purchasing an additional 346,414 shares during the last quarter. Versor Investments LP lifted its stake in Nutanix by 211.7% during the third quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock valued at $1,976,000 after buying an additional 22,652 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in Nutanix by 47.5% in the 2nd quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after purchasing an additional 477,838 shares during the period. Institutional investors own 85.25% of the company’s stock.

About Nutanix

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.