Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “buy” rating reaffirmed by research analysts at Bank of America Corporation in a report issued on Thursday, August 31st. They currently have a $27.00 target price on the technology company’s stock. Bank of America Corporation’s target price suggests a potential upside of 25.23% from the company’s current price.
A number of other equities analysts have also commented on the stock. Goldman Sachs Group, Inc. (The) raised shares of Nutanix from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, May 22nd. Morgan Stanley raised shares of Nutanix from an “underweight” rating to an “equal weight” rating and set a $19.00 price objective on the stock in a report on Wednesday, May 10th. They noted that the move was a valuation call. Summit Redstone reissued a “sell” rating on shares of Nutanix in a report on Wednesday, May 3rd. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $34.00 price objective on shares of Nutanix in a report on Wednesday, July 5th. Finally, Maxim Group restated a “buy” rating and issued a $41.00 target price on shares of Nutanix in a research note on Friday, May 26th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $30.69.
Nutanix (NASDAQ:NTNX) opened at 21.56 on Thursday. The firm’s market cap is $3.29 billion. The stock’s 50 day moving average price is $21.73 and its 200-day moving average price is $24.83. Nutanix has a 12-month low of $21.21 and a 12-month high of $46.78.
Nutanix (NASDAQ:NTNX) last issued its earnings results on Thursday, August 31st. The technology company reported ($0.33) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.05. The business had revenue of $226.10 million for the quarter, compared to analyst estimates of $216.00 million. Nutanix had a negative net margin of 59.72% and a negative return on equity of 248.46%. Nutanix’s revenue for the quarter was up 61.7% on a year-over-year basis. Equities research analysts anticipate that Nutanix will post ($0.96) earnings per share for the current fiscal year.
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In other news, Director Jeffrey T. Parks sold 617,411 shares of the company’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $20.23, for a total value of $12,490,224.53. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Kenneth W. Long III sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $24.00, for a total transaction of $720,000.00. Following the completion of the transaction, the vice president now owns 240,234 shares in the company, valued at $5,765,616. The disclosure for this sale can be found here. Insiders sold a total of 2,213,723 shares of company stock worth $47,321,199 over the last quarter.
Hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its stake in Nutanix by 3,147.6% during the 2nd quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after buying an additional 8,530 shares during the period. SG Americas Securities LLC purchased a new stake in Nutanix during the 2nd quarter worth approximately $186,000. First American Bank purchased a new stake in Nutanix during the 2nd quarter worth approximately $205,000. PNC Financial Services Group Inc. purchased a new stake in Nutanix during the 2nd quarter worth approximately $208,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Nutanix during the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 32.20% of the company’s stock.
Nutanix Company Profile
Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
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