Nutanix (NTNX) Receives $50.84 Average PT from Analysts

Nutanix (NASDAQ:NTNX) has earned a consensus recommendation of “Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $51.51.

NTNX has been the topic of a number of research reports. Vetr lowered shares of Nutanix from a “buy” rating to a “sell” rating and set a $31.98 price target on the stock. in a research note on Tuesday, February 20th. JPMorgan Chase lowered shares of Nutanix from a “neutral” rating to an “underweight” rating and set a $35.00 price target on the stock. in a research report on Thursday, January 25th. Oppenheimer reissued a “buy” rating and issued a $43.00 price objective on shares of Nutanix in a research note on Tuesday, January 9th. Robert W. Baird reissued a “buy” rating and issued a $41.00 price objective on shares of Nutanix in a research note on Wednesday, January 3rd. Finally, Goldman Sachs initiated coverage on shares of Nutanix in a research note on Wednesday, February 7th. They set a “conviction-buy” rating and a $43.00 price target for the company.

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Shares of NTNX stock traded down $0.12 on Wednesday, reaching $53.91. The stock had a trading volume of 1,976,337 shares, compared to its average volume of 4,356,676. Nutanix has a 12 month low of $14.38 and a 12 month high of $56.28. The stock has a market cap of $8,877.56, a price-to-earnings ratio of -16.23 and a beta of 0.32. The company has a debt-to-equity ratio of 1.38, a quick ratio of 3.10 and a current ratio of 3.10.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Thursday, March 1st. The technology company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.06. Nutanix had a negative net margin of 33.34% and a negative return on equity of 196.67%. The business had revenue of $286.70 million for the quarter, compared to analyst estimates of $283.22 million. During the same quarter in the prior year, the business earned ($0.28) EPS. Nutanix’s quarterly revenue was up 44.1% on a year-over-year basis. sell-side analysts predict that Nutanix will post -1.59 EPS for the current fiscal year.

In related news, President Sudheesh Nair Vadakkedath sold 40,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $30.35, for a total transaction of $1,214,000.00. Following the transaction, the president now directly owns 193,856 shares of the company’s stock, valued at $5,883,529.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Kenneth W. Long III sold 32,002 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The shares were sold at an average price of $54.36, for a total transaction of $1,739,628.72. Following the transaction, the chief accounting officer now directly owns 185,256 shares in the company, valued at $10,070,516.16. The disclosure for this sale can be found here. Insiders have sold 2,736,304 shares of company stock valued at $109,144,285 over the last quarter. Corporate insiders own 19.81% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Delpha Capital Management LLC bought a new stake in Nutanix in the fourth quarter worth about $104,000. Focused Wealth Management Inc raised its position in Nutanix by 107.2% in the fourth quarter. Focused Wealth Management Inc now owns 4,059 shares of the technology company’s stock worth $143,000 after acquiring an additional 2,100 shares during the period. US Bancorp DE raised its position in Nutanix by 850.6% in the fourth quarter. US Bancorp DE now owns 4,753 shares of the technology company’s stock worth $168,000 after acquiring an additional 4,253 shares during the period. First American Bank bought a new stake in Nutanix in the fourth quarter worth about $207,000. Finally, Fox Run Management L.L.C. bought a new stake in Nutanix in the fourth quarter worth about $212,000. 43.34% of the stock is currently owned by institutional investors.

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About Nutanix

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.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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