Analysts Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $79.00

Nutanix, Inc. (NASDAQ:NTNX) has been given a consensus rating of “Moderate Buy” by the seventeen brokerages that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $79.00.

NTNX has been the topic of a number of analyst reports. Northland Securities reissued a “market perform” rating and set a $77.00 price target (up previously from $74.00) on shares of Nutanix in a research report on Wednesday, November 27th. Bank of America raised their price target on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company upped their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Needham & Company LLC boosted their target price on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Morgan Stanley lifted their price objective on shares of Nutanix from $72.00 to $78.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th.

Nutanix Stock Performance

NTNX stock opened at $66.29 on Friday. The company has a market capitalization of $17.76 billion, a PE ratio of -189.40, a price-to-earnings-growth ratio of 10.14 and a beta of 1.13. Nutanix has a 52 week low of $43.35 and a 52 week high of $75.80. The company’s 50-day simple moving average is $66.35 and its 200 day simple moving average is $59.02.

Institutional Trading of Nutanix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTNX. ORG Wealth Partners LLC bought a new stake in shares of Nutanix in the 3rd quarter valued at $27,000. Larson Financial Group LLC lifted its holdings in Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after buying an additional 281 shares during the period. Advisors Asset Management Inc. raised its position in shares of Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after acquiring an additional 321 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Nutanix during the 2nd quarter valued at about $32,000. Finally, Signaturefd LLC lifted its stake in Nutanix by 57.8% in the third quarter. Signaturefd LLC now owns 956 shares of the technology company’s stock valued at $57,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds 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.