Brokerages Set Nutanix, Inc. (NASDAQ:NTNX) Price Target at $72.00

Shares of Nutanix, Inc. (NASDAQ:NTNX) have earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $72.00.

Several equities analysts have recently commented on the stock. Northland Capmk downgraded shares of Nutanix from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 30th. KeyCorp upped their price target on shares of Nutanix from $69.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. Raymond James upped their price target on shares of Nutanix from $72.00 to $76.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Morgan Stanley decreased their price target on shares of Nutanix from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Finally, Royal Bank of Canada upped their price target on shares of Nutanix from $72.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, May 29th.

Nutanix Stock Performance

NTNX stock opened at $51.89 on Friday. Nutanix has a one year low of $29.25 and a one year high of $73.69. The company’s fifty day moving average price is $52.61 and its 200-day moving average price is $58.92. The company has a market capitalization of $12.80 billion, a PE ratio of -741.29, a price-to-earnings-growth ratio of 4.45 and a beta of 1.16.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, May 29th. The technology company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.12. Nutanix had a negative net margin of 0.57% and a negative return on equity of 7.74%. The firm had revenue of $524.58 million for the quarter, compared to the consensus estimate of $516.13 million. On average, research analysts predict that Nutanix will post 0.12 EPS for the current fiscal year.

Insider Transactions at Nutanix

In other Nutanix news, COO David Sangster sold 10,384 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $562,708.96. Following the transaction, the chief operating officer now directly owns 64,333 shares in the company, valued at approximately $3,486,205.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Nutanix news, COO David Sangster sold 10,384 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total transaction of $562,708.96. Following the transaction, the chief operating officer now directly owns 64,333 shares in the company, valued at approximately $3,486,205.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rukmini Sivaraman sold 12,566 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $53.22, for a total transaction of $668,762.52. Following the transaction, the chief financial officer now owns 144,902 shares in the company, valued at $7,711,684.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,936 shares of company stock worth $2,531,273. Insiders own 0.46% of the company’s stock.

Institutional Trading of Nutanix

Hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Nutanix during the second quarter valued at about $25,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Nutanix in the 4th quarter valued at approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Nutanix in the 4th quarter valued at approximately $30,000. Itau Unibanco Holding S.A. purchased a new position in shares of Nutanix in the 2nd quarter valued at approximately $32,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Nutanix in the 4th quarter valued at approximately $37,000. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.