Nutanix (NTNX) PT Raised to $70.00 at Wells Fargo & Co

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Nutanix (NASDAQ:NTNX) had its price objective raised by Wells Fargo & Co from $65.00 to $70.00 in a research report issued on Monday. The firm presently has an “outperform” rating on the technology company’s stock. Wells Fargo & Co’s target price suggests a potential upside of 34.69% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Vetr cut shares of Nutanix from a “hold” rating to a “sell” rating and set a $46.18 target price for the company. in a report on Tuesday, April 3rd. Robert W. Baird reaffirmed a “buy” rating and issued a $64.00 target price on shares of Nutanix in a report on Friday, May 25th. Zacks Investment Research cut shares of Nutanix from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Goldman Sachs Group cut shares of Nutanix from a “conviction-buy” rating to a “buy” rating in a report on Friday, March 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price (up from $52.00) on shares of Nutanix in a report on Sunday, April 22nd. Three analysts have rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the stock. Nutanix has a consensus rating of “Buy” and an average price target of $52.18.

Shares of NASDAQ:NTNX opened at $51.97 on Monday. Nutanix has a one year low of $18.60 and a one year high of $64.87. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.05 and a quick ratio of 3.05. The stock has a market capitalization of $9.27 billion, a PE ratio of -15.61 and a beta of 0.40.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Thursday, May 24th. The technology company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). Nutanix had a negative net margin of 27.88% and a negative return on equity of 126.21%. The business had revenue of $289.40 million during the quarter, compared to analysts’ expectations of $278.72 million. During the same period in the previous year, the company posted ($0.42) earnings per share. Nutanix’s quarterly revenue was up 40.7% on a year-over-year basis. sell-side analysts predict that Nutanix will post -1.74 EPS for the current year.

In other Nutanix news, EVP David Sangster sold 7,917 shares of the company’s stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $48.04, for a total transaction of $380,332.68. Following the transaction, the executive vice president now directly owns 7,917 shares in the company, valued at $380,332.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Scarpelli sold 50,000 shares of the company’s stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $60.99, for a total transaction of $3,049,500.00. Following the transaction, the director now owns 58,165 shares in the company, valued at $3,547,483.35. The disclosure for this sale can be found here. Insiders have sold 705,843 shares of company stock valued at $38,521,870 over the last three months. 19.81% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NTNX. Delpha Capital Management LLC acquired a new position in Nutanix during the fourth quarter worth about $104,000. Thompson Davis & CO. Inc. grew its position in Nutanix by 1,600.0% during the first quarter. Thompson Davis & CO. Inc. now owns 2,125 shares of the technology company’s stock worth $104,000 after buying an additional 2,000 shares during the period. Focused Wealth Management Inc grew its position in Nutanix by 107.2% during the fourth quarter. Focused Wealth Management Inc now owns 4,059 shares of the technology company’s stock worth $143,000 after buying an additional 2,100 shares during the period. US Bancorp DE grew its position in Nutanix by 850.6% during the fourth quarter. US Bancorp DE now owns 4,753 shares of the technology company’s stock worth $168,000 after buying an additional 4,253 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its position in Nutanix by 97.6% during the first quarter. Thompson Siegel & Walmsley LLC now owns 4,150 shares of the technology company’s stock worth $204,000 after buying an additional 2,050 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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