Nutanix (NASDAQ:NTNX) Coverage Initiated by Analysts at Oppenheimer

Oppenheimer began coverage on shares of Nutanix (NASDAQ:NTNX) in a research report issued on Wednesday, Marketbeat reports. The firm set an “outperform” rating and a $80.00 price target on the technology company’s stock. Oppenheimer’s price objective would suggest a potential upside of 12.53% from the company’s current price.

Several other brokerages have also recently commented on NTNX. Royal Bank of Canada boosted their price target 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. Northland Securities increased their price target on Nutanix from $71.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, August 30th. Morgan Stanley raised Nutanix from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $71.00 to $72.00 in a research report on Monday, October 28th. Barclays increased their price objective on Nutanix from $71.00 to $75.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Nutanix has an average rating of “Moderate Buy” and a consensus price target of $73.86.

Nutanix Price Performance

NTNX opened at $71.09 on Wednesday. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of -136.71, a P/E/G ratio of 14.64 and a beta of 1.17. The business’s 50-day moving average price is $62.54 and its two-hundred day moving average price is $58.96. Nutanix has a 1 year low of $38.60 and a 1 year high of $73.69.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results 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. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. The firm had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Sell-side analysts anticipate that Nutanix will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Rukmini Sivaraman sold 24,316 shares of the stock in a transaction on Tuesday, September 17th. The stock was 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 directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This represents a 11.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $714,968.50. Following the completion of the transaction, the chief operating officer now owns 123,868 shares in the company, valued at $7,411,022.44. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

A number of institutional investors and hedge funds have recently made changes to their positions in NTNX. Oppenheimer & Co. Inc. acquired a new position in Nutanix during the first quarter valued at approximately $271,000. Concurrent Investment Advisors LLC acquired a new position in shares of Nutanix during the 1st quarter worth $251,000. QRG Capital Management Inc. bought a new stake in shares of Nutanix during the 1st quarter worth $598,000. ProShare Advisors LLC boosted its stake in Nutanix by 13.9% in the first quarter. ProShare Advisors LLC now owns 7,235 shares of the technology company’s stock valued at $447,000 after buying an additional 882 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Nutanix by 0.8% in the first quarter. State Board of Administration of Florida Retirement System now owns 241,114 shares of the technology company’s stock valued at $14,882,000 after acquiring an additional 1,949 shares during the last quarter. 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.