Nutanix (NASDAQ:NTNX) Price Target Raised to $76.00

Nutanix (NASDAQ:NTNXFree Report) had its target price hoisted by Raymond James from $72.00 to $76.00 in a report issued on Thursday morning, Benzinga reports. Raymond James currently has an outperform rating on the technology company’s stock.

A number of other equities analysts have also commented on NTNX. Susquehanna raised their price target on Nutanix from $60.00 to $75.00 and gave the stock a positive rating in a report on Wednesday, April 10th. KeyCorp lifted their price objective on Nutanix from $69.00 to $79.00 and gave the company an overweight rating in a research note on Thursday. Piper Sandler lifted their price objective on Nutanix from $67.00 to $76.00 and gave the company an overweight rating in a research note on Thursday, February 29th. Bank of America lifted their price objective on Nutanix from $55.00 to $65.00 and gave the company a buy rating in a research note on Thursday, February 29th. Finally, Northland Securities lowered Nutanix from an outperform rating to a market perform rating and set a $71.00 price objective for the company. in a research note on Thursday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $72.77.

View Our Latest Stock Analysis on Nutanix

Nutanix Price Performance

Nutanix stock opened at $55.32 on Thursday. Nutanix has a one year low of $26.47 and a one year high of $73.69. The business has a fifty day moving average price of $64.64 and a 200-day moving average price of $56.73. The firm has a market capitalization of $13.52 billion, a P/E ratio of -790.21 and a beta of 1.27.

Nutanix (NASDAQ:NTNXGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.17 EPS for the quarter. Nutanix had a negative return on equity of 7.64% and a negative net margin of 0.57%. The firm had revenue of $565.23 million during the quarter, compared to analyst estimates of $551.82 million. Sell-side analysts expect that Nutanix will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 12,545 shares of Nutanix stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $63.04, for a total transaction of $790,836.80. Following the completion of the sale, the chief operating officer now owns 70,192 shares of the company’s stock, valued at $4,424,903.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO David Sangster sold 12,545 shares of Nutanix stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $63.04, for a total value of $790,836.80. Following the transaction, the chief operating officer now owns 70,192 shares in the company, valued at $4,424,903.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Rajiv Ramaswami sold 23,932 shares of Nutanix stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $63.05, for a total value of $1,508,912.60. Following the completion of the transaction, the chief executive officer now owns 373,024 shares in the company, valued at approximately $23,519,163.20. The disclosure for this sale can be found here. Insiders sold a total of 104,506 shares of company stock valued at $6,668,188 over the last 90 days. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Cetera Advisors LLC purchased a new position in shares of Nutanix in the first quarter worth about $3,141,000. Cetera Investment Advisers increased its holdings in Nutanix by 48.7% during the 1st quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock valued at $4,697,000 after purchasing an additional 24,918 shares during the period. Burney Co. purchased a new position in Nutanix during the 1st quarter valued at about $688,000. Tidal Investments LLC increased its holdings in Nutanix by 37.0% during the 1st quarter. Tidal Investments LLC now owns 23,551 shares of the technology company’s stock valued at $1,454,000 after purchasing an additional 6,364 shares during the period. Finally, Motley Fool Asset Management LLC increased its holdings in Nutanix by 12.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 5,140 shares of the technology company’s stock valued at $317,000 after purchasing an additional 549 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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