Nutanix (NASDAQ:NTNX) Stock Has Average Target Price of $73.07

Key Points

• Analysts maintain a “Moderate Buy” consensus on Nutanix, with nine buy ratings and nine hold ratings. The average 12-month price target is $73.07, while recent targets include UBS at $85 and Rosenblatt Securities at $75.
• Nutanix exceeded quarterly expectations, reporting earnings of $0.60 per share versus the $0.49 consensus and revenue of $757.08 million, up 15.9% year over year.
• Insiders have been significant sellers, with executives selling 674,351 shares worth approximately $49.7 million over the past 90 days; institutional investors still own 85.25% of the company.

Shares of Nutanix (NASDAQ:NTNX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eighteen research firms that are currently covering the stock, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $73.07.

A number of research analysts have weighed in on NTNX shares. UBS Group set a $85.00 target price on shares of Nutanix in a research note on Thursday, August 27th. Keefe, Bruyette & Woods restated a "market perform" rating on shares of Nutanix in a research note on Tuesday, August 25th. Zacks Research cut shares of Nutanix from a "strong-buy" rating to a "hold" rating in a report on Monday, August 31st. Wall Street Zen raised shares of Nutanix from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Finally, Rosenblatt Securities upped their price objective on Nutanix from $60.00 to $75.00 and gave the company a "buy" rating in a research note on Tuesday, August 25th.

Nutanix Trading Up 0.9%

NASDAQ NTNX opened at $67.53 on Tuesday. The stock has a market capitalization of $18.27 billion, a price-to-earnings ratio of 13.09, a PEG ratio of 3.32 and a beta of 0.64. Nutanix has a one year low of $34.01 and a one year high of $75.98. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.80 and a quick ratio of 1.80. The business's fifty day moving average is $68.72 and its 200-day moving average is $55.79.

Nutanix (NASDAQ:NTNX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.11. The company had revenue of $757.08 million for the quarter, compared to the consensus estimate of $738.27 million. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The firm's quarterly revenue was up 15.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. Equities research analysts predict that Nutanix will post 1.17 EPS for the current year.

Insider Buying and Selling

In other Nutanix news, CFO Rukmini Sivaraman sold 232,712 shares of the company's stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $74.55, for a total transaction of $17,348,679.60. Following the sale, the chief financial officer directly owned 92,775 shares of the company's stock, valued at $6,916,376.25. This represents a 71.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Rajiv Ramaswami sold 75,045 shares of the company's stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $74.00, for a total transaction of $5,553,330.00. Following the sale, the chief executive officer directly owned 414,339 shares in the company, valued at approximately $30,661,086. This trade represents a 15.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 674,351 shares of company stock valued at $49,736,524. 2.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Nutanix

Several large investors have recently modified their holdings of the business. Cordatus Wealth Management LLC purchased a new stake in Nutanix in the third quarter valued at approximately $356,000. V Square Quantitative Management LLC grew its stake in 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 in the last quarter. Curated Wealth Partners LLC purchased a new position in Nutanix in the 3rd quarter worth approximately $735,000. Perpetual Ltd grew its stake in Nutanix by 11.2% in the 3rd quarter. Perpetual Ltd now owns 7,340 shares of the technology company's stock worth $517,000 after buying an additional 739 shares in the last quarter. Finally, Gallagher Capital Advisors LLC bought a new position in shares of Nutanix in the 3rd quarter worth $2,175,000. Hedge funds and other institutional investors own 85.25% of the company's stock.

Nutanix Company Profile

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.

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