Nutanix (NASDAQ:NTNX) Stock Has Average Price Target of $73.07 According to Analysts

Nutanix (NASDAQ:NTNX) has earned an average recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the firm, MarketBeat reports. Nine research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $74.87.

Several research analysts recently weighed in on NTNX shares. Bank of America reaffirmed a “buy” rating on shares of Nutanix in a report on Thursday, August 27th. Guggenheim began coverage on Nutanix in a research note on Monday. They issued a “buy” rating and a $100.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and set a $75.00 target price (up from $60.00) on shares of Nutanix in a research report on Thursday, August 27th. Wall Street Zen raised Nutanix from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Morgan Stanley lifted their target price on Nutanix from $55.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $72.71 on Tuesday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.80 and a quick ratio of 1.80. Nutanix has a 1-year low of $34.01 and a 1-year high of $75.98. The company has a market capitalization of $19.67 billion, a P/E ratio of 14.09, a P/E/G ratio of 3.50 and a beta of 0.64. The firm’s 50 day simple moving average is $68.99 and its two-hundred day simple moving average is $52.08.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data 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. The firm had revenue of $757.08 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. Research analysts expect that Nutanix will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling at Nutanix

In other news, Director Teresa Sheppard sold 3,500 shares of Nutanix stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $73.67, for a total transaction of $257,845.00. Following the sale, the director 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rukmini Sivaraman sold 232,712 shares of Nutanix stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $74.55, for a total transaction of $17,348,679.60. Following the sale, the chief financial officer 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 674,351 shares of company stock valued at $49,736,524 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

Institutional Trading of Nutanix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Assenagon Asset Management S.A. boosted its holdings in shares of Nutanix by 1,535.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,262,231 shares of the technology company’s stock valued at $166,243,000 after purchasing an additional 3,062,730 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Nutanix by 26.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,589,508 shares of the technology company’s stock worth $60,416,000 after buying an additional 331,700 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Nutanix by 628.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,185,120 shares of the technology company’s stock worth $45,046,000 after buying an additional 1,022,516 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Nutanix by 308.1% in the first quarter. Pacer Advisors Inc. now owns 1,135,857 shares of the technology company’s stock worth $43,174,000 after buying an additional 857,559 shares in the last quarter. Finally, Ardmore Road Asset Management LP boosted its stake in Nutanix by 16.7% during the first quarter. Ardmore Road Asset Management LP now owns 790,400 shares of the technology company’s stock valued at $30,043,000 after buying an additional 113,116 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors.

Nutanix Company Profile

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company’s offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.