Nutanix (NASDAQ:NTNX) Stock Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Analysts rate Nutanix “Moderate Buy.” Nine of 18 covering brokerages recommend buying the stock, while nine rate it a hold; the average 12-month price target is $72.71.
• Nutanix exceeded quarterly expectations, reporting adjusted EPS of $0.60 versus the $0.49 consensus and revenue of $757.08 million, up 15.9% year over year.
• The stock opened at $68.59, near the analyst average target, after several firms raised their price targets. Institutional investors own 85.25% of the company, while CFO Rukmini Sivaraman sold shares to cover tax obligations tied to vested equity awards.

Nutanix (NASDAQ:NTNX - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eighteen brokerages that are presently covering the company, Marketbeat.com reports. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $72.71.

Several equities analysts recently issued reports on NTNX shares. Piper Sandler restated an "overweight" rating and issued a $75.00 target price (up from $60.00) on shares of Nutanix in a report on Thursday, August 27th. Needham & Company LLC increased their price target on Nutanix from $60.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, August 27th. Keefe, Bruyette & Woods reiterated a "market perform" rating on shares of Nutanix in a report on Tuesday, August 25th. Morgan Stanley lifted their price objective on Nutanix from $55.00 to $63.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 27th. Finally, Wells Fargo & Company boosted their price objective on Nutanix from $55.00 to $65.00 and gave the company an "equal weight" rating in a research note on Thursday, August 27th.

Nutanix Stock Performance

NASDAQ:NTNX opened at $68.59 on Friday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.78 and a current ratio of 1.80. Nutanix has a fifty-two week low of $34.01 and a fifty-two week high of $78.45. The company has a 50 day simple moving average of $64.31 and a two-hundred day simple moving average of $51.99. The company has a market capitalization of $18.54 billion, a PE ratio of 13.29, a P/E/G ratio of 3.93 and a beta of 0.62.

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 (EPS) for the quarter, topping 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 firm had revenue of $757.08 million for the quarter, compared to the consensus estimate of $738.27 million. During the same quarter in the previous year, the company earned $0.37 EPS. The company's revenue for the quarter was up 15.9% on a year-over-year basis. Research analysts anticipate that Nutanix will post 1.03 earnings per share for the current year.

Insider Transactions at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 38,139 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $70.00, for a total transaction of $2,669,730.00. Following the transaction, the chief financial officer directly owned 325,487 shares in the company, valued at approximately $22,784,090. This represents a 10.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 2.40% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. QRG Capital Management Inc. grew its position in Nutanix by 9.3% in the 2nd quarter. QRG Capital Management Inc. now owns 6,300 shares of the technology company's stock valued at $321,000 after purchasing an additional 535 shares during the period. Sequoia Financial Advisors LLC raised its holdings in Nutanix by 6.3% during the second quarter. Sequoia Financial Advisors LLC now owns 8,795 shares of the technology company's stock worth $448,000 after buying an additional 520 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of Nutanix by 111.2% in the second quarter. Tidal Investments LLC now owns 166,037 shares of the technology company's stock valued at $8,461,000 after buying an additional 87,426 shares in the last quarter. WINTON GROUP Ltd lifted its stake in shares of Nutanix by 381.3% in the second quarter. WINTON GROUP Ltd now owns 135,180 shares of the technology company's stock valued at $6,889,000 after buying an additional 107,096 shares in the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Nutanix by 5.8% during the second quarter. Integrated Wealth Concepts LLC now owns 28,698 shares of the technology company's stock valued at $1,462,000 after buying an additional 1,579 shares during the last quarter. 85.25% of the stock is owned by institutional investors.

Nutanix Company Profile

Nutanix, Inc is a cloud computing software company that provides infrastructure and management solutions for enterprise data centers, private clouds, public clouds and hybrid multicloud environments. Its platform is designed to simplify the deployment, operation and management of applications and workloads across on-premises infrastructure and multiple cloud providers.

The company's offerings include the Nutanix Cloud Infrastructure platform, which combines compute, storage and virtualization capabilities; the Nutanix Cloud Manager suite for monitoring, automation, governance and cost management; and Nutanix Unified Storage.

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