Nutanix, Inc. (NASDAQ:NTNX) Receives Average Rating of “Moderate Buy” from Brokerages

Nutanix, Inc. (NASDAQ:NTNX) has been assigned a consensus rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $73.31.

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Nutanix from $62.00 to $71.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $80.00 price objective on shares of Nutanix in a research report on Thursday, August 29th. Barclays raised their price objective on shares of Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Royal Bank of Canada raised their price objective on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Piper Sandler lifted their price target on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th.

Insiders Place Their Bets

In other news, COO David Sangster sold 11,950 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, the chief operating officer now owns 123,868 shares of the company’s stock, valued at $7,411,022.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was 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 directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Several institutional investors and hedge funds have recently modified their holdings of NTNX. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Nutanix in the 2nd quarter worth about $25,000. Itau Unibanco Holding S.A. bought a new stake in Nutanix during the second quarter worth about $32,000. Kapitalo Investimentos Ltda bought a new stake in Nutanix during the fourth quarter worth about $37,000. GAMMA Investing LLC boosted its stake in Nutanix by 35.2% during the second quarter. GAMMA Investing LLC now owns 933 shares of the technology company’s stock worth $53,000 after acquiring an additional 243 shares in the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in Nutanix during the first quarter worth about $64,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Stock Performance

Shares of NASDAQ:NTNX opened at $60.92 on Monday. Nutanix has a 52-week low of $33.96 and a 52-week high of $73.69. The company has a market capitalization of $15.03 billion, a P/E ratio of -870.29, a price-to-earnings-growth ratio of 12.23 and a beta of 1.18. The company has a 50-day simple moving average of $55.88 and a 200 day simple moving average of $58.56.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The business had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. As a group, equities analysts forecast that Nutanix will post 0.27 earnings per share for the current year.

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.