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

Nutanix (NASDAQ:NTNX) had its price objective raised by stock analysts at Barclays from $75.00 to $87.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 14.41% from the company’s previous close.

Several other analysts have also weighed in on NTNX. Oppenheimer initiated coverage on Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 target price on the stock. Needham & Company LLC lifted their target price on shares of Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Bank of America upped their price target on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price objective on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Finally, Northland Securities reaffirmed a “market perform” rating and issued a $77.00 target price (up previously from $74.00) on shares of Nutanix in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.64.

Nutanix Trading Up 5.1 %

NTNX stock opened at $76.04 on Wednesday. The company’s 50-day moving average price is $64.45 and its 200 day moving average price is $59.35. Nutanix has a 52 week low of $40.44 and a 52 week high of $76.04. The company has a market cap of $20.17 billion, a P/E ratio of -146.23, a P/E/G ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The business had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. On average, equities research analysts expect that Nutanix will post 0.31 earnings per share for the current year.

Insider Activity

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 value of $1,430,996.60. Following the transaction, the chief financial officer now owns 192,169 shares in the company, valued at $11,309,145.65. This trade represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David Sangster sold 11,950 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at approximately $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. Corporate insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Institutional investors have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted 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 valued at $4,697,000 after purchasing an additional 24,918 shares in the last quarter. Diversified Trust Co lifted its position in Nutanix by 46.7% during the second quarter. Diversified Trust Co now owns 36,666 shares of the technology company’s stock valued at $2,084,000 after buying an additional 11,668 shares in the last quarter. Versor Investments LP lifted its position in Nutanix by 211.7% during the third quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock valued at $1,976,000 after buying an additional 22,652 shares in the last quarter. Marshall Wace LLP grew its stake in Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock worth $84,308,000 after buying an additional 477,838 shares during the period. Finally, Resolute Capital Asset Partners LLC acquired a new stake in shares of Nutanix in the second quarter worth $2,274,000. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.