Nutanix (NASDAQ:NTNX) had its price target hoisted by analysts at Royal Bank of Canada to $62.00 in a report released on Monday, The Fly reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 6.46% from the company’s previous close.
A number of other equities analysts also recently issued reports on NTNX. KeyCorp reaffirmed a “buy” rating and set a $61.00 price target on shares of Nutanix in a research report on Tuesday, March 13th. Robert W. Baird reaffirmed a “buy” rating and set a $61.00 price target on shares of Nutanix in a research report on Thursday, May 10th. Zacks Investment Research downgraded Nutanix from a “hold” rating to a “sell” rating in a research report on Tuesday, May 15th. Jefferies Group upped their price target on Nutanix to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, March 13th. Finally, Stifel Nicolaus began coverage on Nutanix in a research report on Friday, March 9th. They set a “buy” rating and a $52.00 price target on the stock. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and nineteen have given a buy rating to the stock. Nutanix currently has an average rating of “Buy” and an average target price of $50.23.
Shares of Nutanix opened at $58.24 on Monday, Marketbeat reports. The firm has a market cap of $9.57 billion, a PE ratio of -17.49 and a beta of 0.38. The company has a debt-to-equity ratio of 1.38, a quick ratio of 3.10 and a current ratio of 3.10. Nutanix has a 12-month low of $15.85 and a 12-month high of $60.00.
Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Thursday, March 1st. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.06. The business had revenue of $286.70 million for the quarter, compared to the consensus estimate of $283.22 million. Nutanix had a negative return on equity of 196.67% and a negative net margin of 33.34%. The business’s quarterly revenue was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.28) earnings per share. analysts predict that Nutanix will post -1.59 earnings per share for the current year.
In other Nutanix news, CAO Kenneth W. Long III sold 32,002 shares of the stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $54.36, for a total transaction of $1,739,628.72. Following the sale, the chief accounting officer now directly owns 185,256 shares of the company’s stock, valued at approximately $10,070,516.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Christopher J. Schaepe sold 100,000 shares of the stock in a transaction dated Wednesday, March 28th. The stock was sold at an average price of $48.14, for a total value of $4,814,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,458,246 shares of company stock worth $99,766,863 over the last ninety days. 19.81% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cowen Prime Services LLC grew its position in Nutanix by 33.7% during the 4th quarter. Cowen Prime Services LLC now owns 20,450 shares of the technology company’s stock worth $721,000 after purchasing an additional 5,150 shares during the period. Schwab Charles Investment Management Inc. grew its position in Nutanix by 80.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 359,150 shares of the technology company’s stock worth $12,671,000 after purchasing an additional 159,645 shares during the period. Swiss National Bank grew its position in Nutanix by 90.3% during the 4th quarter. Swiss National Bank now owns 109,400 shares of the technology company’s stock worth $3,860,000 after purchasing an additional 51,900 shares during the period. Mutual of America Capital Management LLC acquired a new stake in Nutanix during the 4th quarter worth about $2,124,000. Finally, Geode Capital Management LLC grew its position in Nutanix by 73.4% during the 4th quarter. Geode Capital Management LLC now owns 655,417 shares of the technology company’s stock worth $23,123,000 after purchasing an additional 277,331 shares during the period. 52.67% of the stock is currently owned by institutional investors.
Nutanix Company Profile
Nutanix, Inc develops and provides an enterprise cloud operating system software. It offers enterprise applications, virtual desktop infrastructure, virtualization and cloud, big data, remote and branch office IT, and data protection and disaster recovery solutions; and hardware platforms and software options; and support and services.
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