KeyCorp Reiterates “Buy” Rating for Nutanix Inc. (NTNX)
Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “buy” rating reissued by stock analysts at KeyCorp in a note issued to investors on Friday. They currently have a $32.00 price objective on the technology company’s stock. KeyCorp’s price target would suggest a potential upside of 44.40% from the company’s current price.
NTNX has been the subject of a number of other reports. Bank of America Corporation restated a “buy” rating and issued a $27.00 price objective on shares of Nutanix in a research report on Tuesday, May 30th. Credit Suisse Group restated a “buy” rating and issued a $38.00 price objective on shares of Nutanix in a research report on Friday, July 28th. Goldman Sachs Group, Inc. (The) upgraded Nutanix from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Monday, May 22nd. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $19.00 price target (up from $18.00) on shares of Nutanix in a research note on Monday, May 29th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $34.00 price target on shares of Nutanix in a research note on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $30.96.
Shares of Nutanix (NASDAQ NTNX) traded down 1.42% on Friday, hitting $22.16. The company had a trading volume of 4,589,447 shares. Nutanix has a 52 week low of $14.38 and a 52 week high of $46.78. The stock’s 50-day moving average is $22.06 and its 200 day moving average is $20.05. The company’s market capitalization is $3.36 billion. Nutanix also was the target of some unusual options trading on Monday. Traders bought 10,474 call options on the company. This represents an increase of 421% compared to the typical volume of 2,010 call options.
Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.38) by $0.05. The business had revenue of $226.10 million during the quarter, compared to analysts’ expectations of $216 million. Nutanix had a negative return on equity of 248.46% and a negative net margin of 59.72%. Nutanix’s revenue for the quarter was up 61.7% compared to the same quarter last year. Equities analysts expect that Nutanix will post ($1.05) EPS for the current year.
In other news, EVP David Sangster sold 5,890 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $18.06, for a total transaction of $106,373.40. Following the completion of the transaction, the executive vice president now directly owns 114,500 shares of the company’s stock, valued at approximately $2,067,870. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Duston Williams sold 80,244 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $17.23, for a total value of $1,382,604.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,216,967 shares of company stock worth $46,693,393.
Several large investors have recently added to or reduced their stakes in NTNX. FMR LLC boosted its position in shares of Nutanix by 320.6% during the 2nd quarter. FMR LLC now owns 12,043,981 shares of the technology company’s stock worth $242,686,000 after acquiring an additional 9,180,123 shares in the last quarter. Sapphire Ventures L.L.C. acquired a new stake in shares of Nutanix in the 1st quarter valued at about $51,506,000. Franklin Resources Inc. acquired a new stake in shares of Nutanix in the 2nd quarter valued at about $55,063,000. Raging Capital Management LLC acquired a new stake in shares of Nutanix in the 1st quarter valued at about $27,315,000. Finally, Vanguard Group Inc. boosted its position in shares of Nutanix by 65.5% in the 1st quarter. Vanguard Group Inc. now owns 3,275,441 shares of the technology company’s stock valued at $61,480,000 after purchasing an additional 1,295,813 shares during the period. 32.20% of the stock is owned by institutional investors and hedge funds.
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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