Nutanix (NASDAQ:NTNX) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Nutanix (NASDAQ:NTNX) from a buy rating to a strong-buy rating in a report issued on Thursday.

Several other brokerages also recently weighed in on NTNX. Barclays lifted their target price on Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer started coverage on shares of Nutanix in a research note on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their target price on shares of Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, Morgan Stanley upped their price target on shares of Nutanix from $72.00 to $78.00 and gave the stock an “overweight” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Nutanix currently has a consensus rating of “Moderate Buy” and an average price target of $78.86.

Nutanix Stock Down 7.8 %

NTNX stock opened at $66.70 on Thursday. The company’s 50-day moving average price is $64.79 and its two-hundred day moving average price is $59.45. The firm has a market cap of $17.69 billion, a P/E ratio of -128.27, a P/E/G ratio of 12.05 and a beta of 1.17. Nutanix has a 12 month low of $40.44 and a 12 month high of $75.80.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The business had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. Equities analysts predict that Nutanix will post 0.31 EPS for the current year.

Insider Transactions at Nutanix

In other news, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the completion of the transaction, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at approximately $7,411,022.44. This trade represents a 8.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total value of $1,430,996.60. Following the sale, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Several large investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC bought a new position in Nutanix during the first quarter worth $213,000. Tidal Investments LLC boosted its position in shares of Nutanix by 37.0% during the 1st quarter. Tidal Investments LLC now owns 23,551 shares of the technology company’s stock worth $1,454,000 after purchasing an additional 6,364 shares in the last quarter. Burney Co. bought a new position in shares of Nutanix during the 1st quarter worth about $688,000. Cetera Investment Advisers grew its stake in shares of Nutanix by 48.7% in the 1st quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock valued at $4,697,000 after buying an additional 24,918 shares during the period. Finally, Cetera Advisors LLC bought a new stake in Nutanix in the 1st quarter valued at about $3,141,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

About Nutanix

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.