Nutanix (NASDAQ:NTNX) Stock Has Consensus Price Target of $74.87 According to Brokerages

Key Points

• Analysts rate Nutanix a “Moderate Buy”: Ten of 19 covering firms recommend buying the stock and nine rate it a hold; the average 12-month price target is $74.87.
• Nutanix beat quarterly estimates, reporting adjusted earnings of $0.60 per share versus $0.49 expected and revenue of $757.1 million versus $738.3 million expected. Revenue rose 15.9% year over year.
• Insiders sold 674,351 shares worth about $49.7 million over the past 90 days. Shares recently traded at $60.38, below the average analyst target.

Nutanix (NASDAQ:NTNX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the nineteen ratings firms that are presently covering the firm, MarketBeat reports. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $74.87.

NTNX has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Nutanix from $55.00 to $65.00 and gave the company an "equal weight" rating in a report on Thursday, August 27th. KeyCorp boosted their target price on Nutanix from $65.00 to $75.00 and gave the company an "overweight" rating in a research note on Monday, August 24th. Needham & Company LLC started coverage on shares of Nutanix in a report on Monday, September 28th. They issued a "buy" rating and a $90.00 price target for the company. UBS Group set a $85.00 price objective on shares of Nutanix in a report on Thursday, August 27th. Finally, Oppenheimer lifted their price target on Nutanix from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, August 27th.

Insider Activity

In other Nutanix news, CFO Rukmini Sivaraman sold 232,712 shares of Nutanix stock in a transaction on Monday, October 12th. The shares were sold at an average price of $74.55, for a total value of $17,348,679.60. Following the sale, the chief financial officer directly owned 92,775 shares in the company, valued at approximately $6,916,376.25. The trade was a 71.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa Sheppard sold 3,500 shares of the business's stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $73.67, for a total transaction of $257,845.00. Following the sale, the director directly owned 23,488 shares in the company, valued at $1,730,360.96. This trade represents a 12.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 674,351 shares of company stock worth $49,736,524 over the last ninety days. Insiders own 2.30% of the company's stock.

Institutional Trading of Nutanix

A number of hedge funds and other institutional investors have recently modified their holdings of NTNX. Global Retirement Partners LLC increased its holdings in Nutanix by 158.9% during the third quarter. Global Retirement Partners LLC now owns 435 shares of the technology company's stock worth $31,000 after buying an additional 267 shares during the last quarter. CX Institutional raised its holdings in shares of Nutanix by 134.6% in the 2nd quarter. CX Institutional now owns 488 shares of the technology company's stock valued at $25,000 after purchasing an additional 280 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of Nutanix by 43.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company's stock valued at $29,000 after purchasing an additional 176 shares during the period. Western Wealth Management LLC acquired a new position in Nutanix during the first quarter worth approximately $27,000. Finally, Covestor Ltd increased its position in Nutanix by 23.6% during the third quarter. Covestor Ltd now owns 855 shares of the technology company's stock worth $60,000 after buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company's stock.

Nutanix Trading Down 0.8%

Shares of NASDAQ NTNX traded down $0.49 during midday trading on Friday, hitting $60.38. The stock had a trading volume of 1,242,679 shares, compared to its average volume of 2,193,794. The firm has a market cap of $16.34 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 3.02 and a beta of 0.72. Nutanix has a fifty-two week low of $34.01 and a fifty-two week 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 company's 50-day simple moving average is $68.21 and its 200 day simple moving average is $53.31.

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

About Nutanix

Nutanix, Inc. develops enterprise cloud software that helps organizations manage applications and data across on-premises data centers, public clouds and hybrid environments. Its platform brings together infrastructure, virtualization and cloud-management capabilities to simplify the operation of enterprise IT systems. The Nutanix Cloud Platform includes software for managing compute and storage resources, virtual machines and cloud environments. Its offerings include the AHV virtualization solution and Prism management software, as well as products for file and object storage and Kubernetes-based applications.

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