Nutanix (NTNX) Stock Rating Lowered by Vetr

Nutanix (NASDAQ:NTNX) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday, February 14th. They currently have a $37.59 target price on the technology company’s stock. Vetr‘s price objective would indicate a potential upside of 7.62% from the company’s current price.

NTNX has been the subject of several other research reports. Raymond James Financial set a $37.00 target price on Nutanix and gave the stock a “buy” rating in a research note on Monday, December 4th. Needham & Company LLC raised their target price on Nutanix from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Friday, December 1st. Morgan Stanley raised their price target on Nutanix from $22.00 to $35.00 and gave the company a “hold” rating in a report on Friday, December 1st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $40.00 price target on shares of Nutanix in a report on Friday, December 1st. Finally, Goldman Sachs Group initiated coverage on Nutanix in a report on Wednesday, February 7th. They set a “conviction-buy” rating and a $43.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $36.00.

Shares of Nutanix (NASDAQ:NTNX) opened at $34.93 on Wednesday. The company has a market capitalization of $5,590.00 and a price-to-earnings ratio of -14.43. Nutanix has a 12-month low of $14.38 and a 12-month high of $38.80.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Thursday, November 30th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The firm had revenue of $275.60 million during the quarter, compared to the consensus estimate of $267.02 million. Nutanix had a negative return on equity of 271.31% and a negative net margin of 40.81%. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.37) EPS. analysts anticipate that Nutanix will post -1.71 EPS for the current year.

In other Nutanix news, President Sudheesh Nair Vadakkedath sold 40,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $30.35, for a total transaction of $1,214,000.00. Following the completion of the sale, the president now owns 193,856 shares of the company’s stock, valued at $5,883,529.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Sangster sold 5,892 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $36.32, for a total value of $213,997.44. Following the sale, the executive vice president now directly owns 12,500 shares of the company’s stock, valued at approximately $454,000. The disclosure for this sale can be found here. Insiders sold 1,316,667 shares of company stock valued at $46,990,022 in the last 90 days. Company insiders own 19.81% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Nutanix by 89.6% in the fourth quarter. BlackRock Inc. now owns 5,875,339 shares of the technology company’s stock worth $207,282,000 after acquiring an additional 2,776,194 shares during the period. Cramer Rosenthal Mcglynn LLC boosted its stake in shares of Nutanix by 124.9% in the fourth quarter. Cramer Rosenthal Mcglynn LLC now owns 1,473,512 shares of the technology company’s stock worth $51,986,000 after acquiring an additional 818,378 shares during the period. Contour Asset Management LLC bought a new position in shares of Nutanix in the fourth quarter worth about $35,868,000. Artemis Investment Management LLP boosted its stake in Nutanix by 17.9% during the third quarter. Artemis Investment Management LLP now owns 844,784 shares of the technology company’s stock valued at $18,910,000 after buying an additional 128,493 shares during the last quarter. Finally, Trinity Street Asset Management LLP bought a new position in Nutanix during the fourth quarter valued at approximately $29,363,000. 38.31% of the stock is owned by hedge funds and other institutional investors.

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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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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