Needham & Company LLC Cuts Nutanix (NASDAQ:NTNX) Price Target to $80.00

Key Points

• Needham & Company LLC has lowered Nutanix's price target from $92.00 to $80.00, maintaining a "buy" rating with a potential upside of 14.94% from the current stock price.
• Despite the price target cut, Nutanix has received multiple bullish ratings from other analysts, including Citigroup's upgrade to "positive" and Morgan Stanley's increased target price to $90.00.
• Nutanix recently reported earnings of $0.37 per share for the quarter, surpassing estimates and showing a 19.2% year-over-year revenue increase.

Nutanix (NASDAQ:NTNX - Get Free Report) had its target price lowered by stock analysts at Needham & Company LLC from $92.00 to $80.00 in a report released on Thursday, Marketbeat Ratings reports. The firm currently has a "buy" rating on the technology company's stock. Needham & Company LLC's target price suggests a potential upside of 19.03% from the stock's previous close.

Several other research firms have also issued reports on NTNX. Wall Street Zen lowered shares of Nutanix from a "strong-buy" rating to a "buy" rating in a report on Monday, June 30th. Citigroup upgraded shares of Nutanix to a "positive" rating in a report on Tuesday, August 5th. Raymond James Financial downgraded shares of Nutanix from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 20th. Susquehanna boosted their price target on Nutanix from $90.00 to $95.00 and gave the company a "positive" rating in a report on Thursday, May 29th. Finally, KeyCorp initiated coverage on Nutanix in a report on Thursday, June 26th. They set an "overweight" rating and a $95.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.07.

Nutanix Stock Performance

Shares of NASDAQ:NTNX traded up $1.15 on Thursday, reaching $67.21. The company's stock had a trading volume of 4,668,425 shares, compared to its average volume of 3,187,867. The company has a 50-day simple moving average of $72.81 and a 200 day simple moving average of $71.90. The company has a market cap of $18.02 billion, a P/E ratio of 105.02, a PEG ratio of 4.40 and a beta of 0.71. Nutanix has a 52-week low of $54.66 and a 52-week high of $83.36.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its earnings results on Wednesday, August 27th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.06. The firm had revenue of $653.27 million during the quarter, compared to analyst estimates of $642.48 million. Nutanix had a net margin of 7.42% and a negative return on equity of 27.63%. The business's revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the business earned $0.27 EPS. Nutanix has set its Q1 2026 guidance at EPS. FY 2026 guidance at EPS. On average, equities research analysts forecast that Nutanix will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 1,925 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $75.00, for a total value of $144,375.00. Following the completion of the sale, the chief executive officer directly owned 518,561 shares in the company, valued at approximately $38,892,075. This trade represents a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Groen Max Pieter De sold 5,480,467 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $76.81, for a total transaction of $420,954,670.27. Following the completion of the transaction, the director directly owned 5,480,468 shares of the company's stock, valued at $420,954,747.08. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,491,492 shares of company stock valued at $421,797,778 in the last 90 days. Corporate insiders own 6.80% of the company's stock.

Hedge Funds Weigh In On Nutanix

Hedge funds have recently made changes to their positions in the company. Thrivent Financial for Lutherans purchased a new stake in shares of Nutanix in the 2nd quarter valued at $608,000. Neuberger Berman Group LLC boosted its holdings in shares of Nutanix by 32.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 322,511 shares of the technology company's stock valued at $24,653,000 after acquiring an additional 79,795 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Nutanix by 62.2% in the 2nd quarter. Advisory Services Network LLC now owns 9,219 shares of the technology company's stock valued at $693,000 after acquiring an additional 3,535 shares during the last quarter. State of Wyoming purchased a new stake in shares of Nutanix in the 2nd quarter valued at $314,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Nutanix in the 2nd quarter valued at $507,000. 85.25% of the stock is owned by institutional investors and hedge funds.

About Nutanix

Nutanix, Inc engages in the provision of a cloud platform leveraging web-scale engineering and consumer-grade design. It operates through the following geographic segments: United States, Europe, the Middle East, Africa, Asia Pacific, and Other Americas. The firm also provides software solutions and cloud services to customers' enterprise infrastructure.