Nutanix (NASDAQ:NTNX) Coverage Initiated by Analysts at Guggenheim

Key Points

• Guggenheim initiated coverage of Nutanix with a “buy” rating and a $100 price target, implying approximately 37.5% upside from the prior close.
• Nutanix recently surpassed quarterly expectations, reporting $0.60 in EPS versus the $0.49 consensus estimate and $757.1 million in revenue, up 15.9% year over year. Analysts collectively maintain a “Moderate Buy” consensus with an average price target of $74.87.
• Shares opened at $72.71 and were trading near their 12-month high, while insiders have sold roughly $49.7 million of stock over the past 90 days; institutional investors own 85.25% of outstanding shares.

Stock analysts at Guggenheim started coverage on shares of Nutanix (NASDAQ:NTNX - Get Free Report) in a note issued to investors on Monday, Marketbeat reports. The firm set a "buy" rating and a $100.00 price target on the technology company's stock. Guggenheim's price target indicates a potential upside of 37.53% from the stock's previous close.

NTNX has been the subject of a number of other reports. Morgan Stanley increased their price target on Nutanix from $55.00 to $63.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th. KeyCorp boosted their price objective on Nutanix from $65.00 to $75.00 and gave the stock an "overweight" rating in a research note on Monday, August 24th. Zacks Research lowered Nutanix from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Barclays raised their target price on Nutanix from $53.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, August 28th. Finally, Royal Bank Of Canada lifted their target price on Nutanix from $84.00 to $90.00 and gave the stock an "outperform" rating in a report on Thursday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $74.87.

Nutanix Trading Up 3.0%

Shares of NASDAQ:NTNX opened at $72.71 on Monday. The company has a 50 day moving average of $68.99 and a 200-day moving average of $52.08. The firm has a market cap of $19.67 billion, a P/E ratio of 14.09, a P/E/G ratio of 3.50 and a beta of 0.64. Nutanix has a twelve month low of $34.01 and a twelve month high of $75.98. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.92.

Nutanix (NASDAQ:NTNX - Get Free Report) last posted its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.11. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The business had revenue of $757.08 million for the quarter, compared to analyst estimates of $738.27 million. During the same quarter last year, the business earned $0.37 earnings per share. The business's revenue for the quarter was up 15.9% on a year-over-year basis. As a group, analysts anticipate that Nutanix will post 1.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Nutanix

In other news, Director Teresa Sheppard sold 3,500 shares of the firm's stock in a transaction on Friday, October 9th. The stock was sold at an average price of $73.67, for a total transaction of $257,845.00. Following the completion of the sale, the director directly owned 23,488 shares of the company's stock, valued at $1,730,360.96. This trade represents a 12.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rajiv Ramaswami sold 324,955 shares of the firm's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $73.57, for a total value of $23,906,939.35. Following the sale, the chief executive officer directly owned 489,384 shares of the company's stock, valued at approximately $36,003,980.88. This represents a 39.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 674,351 shares of company stock valued at $49,736,524. Corporate insiders own 2.40% of the company's stock.

Institutional Trading of Nutanix

Several institutional investors and hedge funds have recently bought and sold shares of NTNX. Robeco Institutional Asset Management B.V. raised its holdings in Nutanix by 1.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 9,460 shares of the technology company's stock worth $666,000 after purchasing an additional 155 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Nutanix by 43.8% during the second quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company's stock valued at $29,000 after buying an additional 176 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Nutanix by 28.6% in the 2nd quarter. CoreCap Advisors LLC now owns 900 shares of the technology company's stock valued at $46,000 after buying an additional 200 shares in the last quarter. Doliver Advisors LP boosted its holdings in shares of Nutanix by 3.0% in the 3rd quarter. Doliver Advisors LP now owns 7,657 shares of the technology company's stock valued at $539,000 after buying an additional 221 shares in the last quarter. Finally, V Square Quantitative Management LLC grew its position in shares of Nutanix by 41.7% in the 3rd quarter. V Square Quantitative Management LLC now owns 876 shares of the technology company's stock worth $62,000 after buying an additional 258 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

About Nutanix

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company's offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.