KeyCorp Increases Nutanix (NTNX) Price Target to $68.00

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Nutanix (NASDAQ:NTNX) had its price target lifted by equities research analysts at KeyCorp from $64.00 to $68.00 in a report issued on Friday. The brokerage currently has an “overweight” rating on the technology company’s stock. KeyCorp’s target price would suggest a potential upside of 25.14% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Royal Bank of Canada increased their price target on shares of Nutanix to $70.00 and gave the company an “outperform” rating in a research note on Wednesday, June 13th. Zacks Investment Research cut shares of Nutanix from a “hold” rating to a “sell” rating in a research note on Saturday, June 2nd. FBN Securities increased their price target on shares of Nutanix from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, May 29th. Morgan Stanley increased their price target on shares of Nutanix from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, May 25th. Finally, Robert W. Baird reissued a “buy” rating and set a $64.00 price target on shares of Nutanix in a research note on Friday, May 25th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Nutanix currently has an average rating of “Buy” and a consensus price target of $51.96.

Shares of Nutanix opened at $54.34 on Friday, Marketbeat reports. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 1.19. The stock has a market cap of $9.97 billion, a price-to-earnings ratio of -16.32 and a beta of 0.40. Nutanix has a 1-year low of $18.51 and a 1-year high of $64.87.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Thursday, May 24th. The technology company reported ($0.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.02). The firm had revenue of $289.40 million for the quarter, compared to the consensus estimate of $278.72 million. Nutanix had a negative return on equity of 126.21% and a negative net margin of 27.88%. Nutanix’s quarterly revenue was up 40.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.42) earnings per share. equities analysts anticipate that Nutanix will post -1.74 EPS for the current year.

In other Nutanix news, Director Michael Scarpelli sold 50,000 shares of the stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $60.99, for a total value of $3,049,500.00. Following the sale, the director now directly owns 58,165 shares in the company, valued at $3,547,483.35. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Duston Williams sold 300,000 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $54.13, for a total transaction of $16,239,000.00. The disclosure for this sale can be found here. Insiders sold 805,843 shares of company stock worth $43,335,870 over the last 90 days. 19.81% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers raised its holdings in Nutanix by 1.6% in the first quarter. Rhumbline Advisers now owns 101,523 shares of the technology company’s stock worth $4,986,000 after purchasing an additional 1,595 shares during the period. Baker Avenue Asset Management LP raised its holdings in Nutanix by 7.1% in the first quarter. Baker Avenue Asset Management LP now owns 27,197 shares of the technology company’s stock worth $1,336,000 after purchasing an additional 1,798 shares during the period. Osterweis Capital Management Inc. raised its holdings in Nutanix by 1.6% in the first quarter. Osterweis Capital Management Inc. now owns 123,290 shares of the technology company’s stock worth $6,055,000 after purchasing an additional 1,910 shares during the period. Teacher Retirement System of Texas raised its holdings in Nutanix by 9.0% in the first quarter. Teacher Retirement System of Texas now owns 23,880 shares of the technology company’s stock worth $1,173,000 after purchasing an additional 1,972 shares during the period. Finally, Thompson Davis & CO. Inc. raised its holdings in Nutanix by 1,600.0% in the first quarter. Thompson Davis & CO. Inc. now owns 2,125 shares of the technology company’s stock worth $104,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 52.35% of the company’s stock.

Nutanix Company Profile

Nutanix, Inc develops and provides an enterprise cloud operating system software. It offers enterprise applications, virtual desktop infrastructure, virtualization and cloud, big data, remote and branch office IT, and data protection and disaster recovery solutions; and hardware platforms and software options; and support and services.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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