Nutanix Inc. (NTNX) Given “Buy” Rating at Bank of America Corporation
Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “buy” rating reiterated by research analysts at Bank of America Corporation in a research report issued to clients and investors on Thursday, August 31st. They presently have a $27.00 price objective on the technology company’s stock. Bank of America Corporation’s price objective would suggest a potential upside of 21.84% from the stock’s current price.
A number of other brokerages have also recently weighed in on NTNX. William Blair reissued a “buy” rating on shares of Nutanix in a research report on Thursday, August 31st. Credit Suisse Group reissued a “buy” rating and set a $38.00 price target on shares of Nutanix in a research report on Friday, July 28th. Jefferies Group LLC assumed coverage on shares of Nutanix in a research report on Thursday, August 17th. They set a “buy” rating and a $30.00 price target on the stock. Stifel Nicolaus set a $25.00 price target on shares of Nutanix and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Nutanix from a “buy” rating to a “conviction-buy” rating and set a $31.00 price target on the stock in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $30.96.
Nutanix (NASDAQ NTNX) traded down 1.42% on Thursday, hitting $22.16. The company had a trading volume of 4,589,447 shares. The stock’s market cap is $3.36 billion. Nutanix has a 12-month low of $14.38 and a 12-month high of $46.78. The firm’s 50 day moving average price is $22.06 and its 200 day moving average price is $20.05. Nutanix also was the target of some unusual options trading activity on Monday. Stock investors acquired 10,474 call options on the company. This is an increase of approximately 421% compared to the typical volume of 2,010 call options.
Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. Nutanix had a negative net margin of 59.72% and a negative return on equity of 248.46%. The firm had revenue of $226.10 million for the quarter, compared to analysts’ expectations of $216 million. The firm’s revenue was up 61.7% on a year-over-year basis. Equities analysts predict that Nutanix will post ($1.05) earnings per share for the current fiscal year.
In other Nutanix news, SVP Rajiv Mirani sold 4,600 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $20.02, for a total value of $92,092.00. Following the transaction, the senior vice president now directly owns 255,600 shares of the company’s stock, valued at $5,117,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey T. Parks sold 1,234,822 shares of the firm’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $21.97, for a total transaction of $27,129,039.34. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,216,967 shares of company stock valued at $46,693,393.
Several institutional investors have recently added to or reduced their stakes in NTNX. Norges Bank bought a new position in shares of Nutanix during the fourth quarter valued at about $930,000. State of New Jersey Common Pension Fund D bought a new position in shares of Nutanix during the first quarter valued at about $11,262,000. Wells Fargo & Company MN lifted its position in shares of Nutanix by 30.7% during the first quarter. Wells Fargo & Company MN now owns 60,584 shares of the technology company’s stock valued at $1,137,000 after purchasing an additional 14,233 shares in the last quarter. State Treasurer State of Michigan bought a new position in shares of Nutanix during the first quarter valued at about $1,919,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Nutanix by 31.0% during the first quarter. Bank of New York Mellon Corp now owns 42,718 shares of the technology company’s stock valued at $802,000 after purchasing an additional 10,119 shares in the last quarter. 32.20% of the stock is currently owned by hedge funds and other institutional investors.
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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