Nutanix (NASDAQ:NTNX) PT Raised to $60.00
Nutanix (NASDAQ:NTNX – Get Free Report) had its price target hoisted by equities research analysts at Susquehanna from $48.00 to $60.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “positive” rating on the technology company’s stock. Susquehanna’s price target points to a potential upside of 34.59% from the stock’s previous close.
A number of other research firms have also recently commented on NTNX. Piper Sandler raised their target price on Nutanix from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America upgraded Nutanix from a “neutral” rating to a “buy” rating and raised their target price for the company from $39.00 to $50.00 in a research report on Thursday, September 21st. KeyCorp lifted their price objective on Nutanix from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, September 27th. Royal Bank of Canada lifted their price objective on Nutanix from $47.00 to $54.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, StockNews.com upgraded Nutanix from a “buy” rating to a “strong-buy” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $49.45.
Read Our Latest Stock Report on NTNX
Nutanix Stock Performance
NTNX stock traded up $1.49 during midday trading on Friday, reaching $44.58. The stock had a trading volume of 1,367,361 shares, compared to its average volume of 1,676,801. The firm has a fifty day simple moving average of $37.51 and a two-hundred day simple moving average of $32.59. The stock has a market cap of $10.68 billion, a PE ratio of -56.43 and a beta of 1.24. Nutanix has a 52-week low of $23.34 and a 52-week high of $45.40.
Nutanix (NASDAQ:NTNX – Get Free Report) last announced its quarterly earnings results on Wednesday, November 29th. The technology company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.11. The company had revenue of $511.10 million for the quarter, compared to analyst estimates of $501.26 million. Nutanix’s revenue for the quarter was up 17.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) earnings per share. On average, sell-side analysts predict that Nutanix will post -0.3 EPS for the current fiscal year.
Insider Activity
In other news, insider Tyler Wall sold 31,695 shares of Nutanix stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $33.88, for a total transaction of $1,073,826.60. Following the sale, the insider now owns 98,795 shares of the company’s stock, valued at approximately $3,347,174.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Tyler Wall sold 31,695 shares of Nutanix stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $33.88, for a total transaction of $1,073,826.60. Following the sale, the insider now owns 98,795 shares of the company’s stock, valued at approximately $3,347,174.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO David Sangster sold 45,560 shares of Nutanix stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $33.88, for a total transaction of $1,543,572.80. Following the sale, the chief operating officer now directly owns 203,389 shares in the company, valued at approximately $6,890,819.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 566,979 shares of company stock valued at $20,114,508. 0.46% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Nutanix
A number of institutional investors and hedge funds have recently modified their holdings of the company. Sonen Capital LLC grew its stake in shares of Nutanix by 1.8% during the third quarter. Sonen Capital LLC now owns 18,118 shares of the technology company’s stock worth $632,000 after purchasing an additional 324 shares in the last quarter. CWM LLC lifted its position in Nutanix by 7.8% in the third quarter. CWM LLC now owns 4,527 shares of the technology company’s stock valued at $158,000 after acquiring an additional 328 shares during the last quarter. Bank of Nova Scotia lifted its position in Nutanix by 2.9% in the second quarter. Bank of Nova Scotia now owns 13,713 shares of the technology company’s stock valued at $385,000 after acquiring an additional 390 shares during the last quarter. Commerce Bank lifted its position in Nutanix by 2.4% in the first quarter. Commerce Bank now owns 17,747 shares of the technology company’s stock valued at $461,000 after acquiring an additional 422 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in Nutanix by 5.3% in the fourth quarter. MetLife Investment Management LLC now owns 9,506 shares of the technology company’s stock valued at $248,000 after acquiring an additional 477 shares during the last quarter. Institutional investors and hedge funds own 78.74% 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.
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Original: MarketBeat News Feed: Nutanix (NASDAQ:NTNX) PT Raised to $60.00