Nutanix (NASDAQ:NTNX) Price Target Raised to $78.00

Nutanix (NASDAQ:NTNX) had its target price hoisted by Morgan Stanley from $72.00 to $78.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Several other brokerages also recently weighed in on NTNX. Oppenheimer began coverage on Nutanix in a research report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target on the stock. Northland Securities reiterated a “market perform” rating and set a $77.00 price target (up from $74.00) on shares of Nutanix in a research report on Wednesday. Barclays upped their price objective on Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday. Raymond James lifted their target price on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Needham & Company LLC increased their price target on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $78.86.

Nutanix Trading Down 2.1 %

Shares of NASDAQ:NTNX opened at $65.28 on Wednesday. Nutanix has a twelve month low of $42.22 and a twelve month high of $75.80. The company’s 50 day moving average is $64.88 and its 200 day moving average is $59.45. The company has a market cap of $17.31 billion, a PE ratio of -186.51, a price-to-earnings-growth ratio of 11.04 and a beta of 1.17.

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, topping analysts’ consensus estimates 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 net margin of 3.54% and a negative return on equity of 12.43%. Equities research analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction 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 sale, the chief financial officer now owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David Sangster sold 11,950 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction 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. This trade represents 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 insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NTNX. O Shaughnessy Asset Management LLC acquired a new stake in shares of Nutanix in the first quarter valued at approximately $213,000. Tidal Investments LLC grew its holdings in Nutanix by 37.0% in the 1st quarter. Tidal Investments LLC now owns 23,551 shares of the technology company’s stock valued at $1,454,000 after buying an additional 6,364 shares in the last quarter. Burney Co. acquired a new stake in shares of Nutanix in the 1st quarter worth $688,000. Cetera Investment Advisers increased its stake in shares of Nutanix by 48.7% in the 1st quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock worth $4,697,000 after acquiring an additional 24,918 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new position in shares of Nutanix during the 1st quarter worth $3,141,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.