Nutanix (NASDAQ:NTNX) had its price target lifted by equities researchers at Wells Fargo to $60.00 in a note issued to investors on Tuesday, March 13th, The Fly reports. The firm presently has an “outperform” rating on the technology company’s stock. Wells Fargo’s price target would suggest a potential upside of 20.39% from the company’s previous close.
Other analysts also recently issued reports about the company. Piper Jaffray restated an “overweight” rating and issued a $57.00 price target on shares of Nutanix in a research note on Tuesday, March 13th. Jefferies Group boosted their target price on Nutanix to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 13th. Stifel Nicolaus assumed coverage on Nutanix in a research report on Friday, March 9th. They set a “buy” rating and a $52.00 target price on the stock. Goldman Sachs assumed coverage on Nutanix in a research report on Wednesday, February 7th. They set a “conviction-buy” rating and a $43.00 target price on the stock. Finally, Zacks Investment Research upgraded Nutanix from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Wednesday, December 6th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $48.05.
Shares of NASDAQ NTNX opened at $49.84 on Tuesday. The company has a current ratio of 3.10, a quick ratio of 3.10 and a debt-to-equity ratio of 1.38. Nutanix has a fifty-two week low of $14.38 and a fifty-two week high of $55.25. The stock has a market cap of $8,258.12, a PE ratio of -14.97 and a beta of 0.38.
Nutanix (NASDAQ:NTNX) last announced its earnings results on Thursday, March 1st. The technology company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.06. Nutanix had a negative return on equity of 196.67% and a negative net margin of 33.34%. The company had revenue of $286.70 million for the quarter, compared to the consensus estimate of $283.22 million. During the same period last year, the business posted ($0.28) EPS. The company’s revenue was up 44.1% on a year-over-year basis. equities analysts forecast that Nutanix will post -1.59 EPS for the current year.
In other Nutanix news, President Sudheesh Nair Vadakkedath sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $36.87, for a total transaction of $1,474,800.00. Following the sale, the president now owns 193,856 shares in the company, valued at $7,147,470.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Sangster sold 6,625 shares of the company’s stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $52.66, for a total value of $348,872.50. Following the sale, the executive vice president now owns 12,500 shares in the company, valued at approximately $658,250. The disclosure for this sale can be found here. Insiders sold 2,776,304 shares of company stock valued at $109,896,685 in the last ninety days. Company insiders own 19.81% of the company’s stock.
Several institutional investors have recently made changes to their positions in NTNX. Parametric Portfolio Associates LLC acquired a new stake in shares of Nutanix during the 2nd quarter worth approximately $365,000. Voya Investment Management LLC acquired a new stake in Nutanix in the 2nd quarter valued at approximately $315,000. State Street Corp increased its position in Nutanix by 146.7% in the 2nd quarter. State Street Corp now owns 547,995 shares of the technology company’s stock valued at $11,042,000 after acquiring an additional 325,821 shares during the period. The Manufacturers Life Insurance Company increased its position in Nutanix by 661.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,383 shares of the technology company’s stock valued at $612,000 after acquiring an additional 26,393 shares during the period. Finally, California State Teachers Retirement System increased its position in Nutanix by 107.0% in the 2nd quarter. California State Teachers Retirement System now owns 61,700 shares of the technology company’s stock valued at $1,243,000 after acquiring an additional 31,900 shares during the period. Institutional investors and hedge funds own 44.26% of the company’s stock.
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Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.
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