Nutanix (NASDAQ:NTNX) Price Target Raised to $87.00 at Barclays

Nutanix (NASDAQ:NTNX) had its price objective increased by Barclays from $75.00 to $87.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the technology company’s stock. Barclays‘s price target indicates a potential upside of 30.43% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $71.00 to $72.00 in a research note on Monday, October 28th. Raymond James lifted their target price on shares of Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Oppenheimer began coverage on shares of Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target for the company. Northland Securities reiterated a “market perform” rating and issued a $77.00 price objective (up previously from $74.00) on shares of Nutanix in a report on Wednesday. Finally, JPMorgan Chase & Co. increased their target price on Nutanix from $65.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.86.

Nutanix Stock Down 7.8 %

NTNX opened at $66.70 on Wednesday. The business’s fifty day simple moving average is $64.79 and its 200 day simple moving average is $59.45. Nutanix has a 52 week low of $40.44 and a 52 week high of $75.80. The stock has a market cap of $17.69 billion, a PE ratio of -128.27, a P/E/G ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, beating 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%. As a group, equities analysts anticipate that Nutanix will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the transaction, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at $7,411,022.44. The trade was a 8.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nutanix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bain Capital Investors LLC purchased a new stake in Nutanix during the 3rd quarter worth approximately $998,601,000. Driehaus Capital Management LLC increased its stake in shares of Nutanix by 123.9% in the second quarter. Driehaus Capital Management LLC now owns 1,435,230 shares of the technology company’s stock worth $81,593,000 after acquiring an additional 794,215 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Nutanix by 32.8% in the 3rd quarter. Two Sigma Advisers LP now owns 2,814,002 shares of the technology company’s stock valued at $166,730,000 after buying an additional 695,567 shares during the period. Marshall Wace LLP lifted its holdings in Nutanix by 47.5% in the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock valued at $84,308,000 after acquiring an additional 477,838 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in Nutanix by 15.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock valued at $166,886,000 after buying an additional 374,328 shares during the period. Hedge funds and other 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.