Morgan Stanley Increases Nutanix Inc. (NTNX) Price Target to $22.00
Nutanix Inc. (NASDAQ:NTNX) had its price objective boosted by research analysts at Morgan Stanley from $19.00 to $22.00 in a research note issued on Friday, MarketBeat reports. The firm presently has a “weight” rating on the technology company’s stock. Morgan Stanley’s price objective indicates a potential downside of 0.72% from the company’s previous close.
Other research analysts have also recently issued reports about the company. Goldman Sachs Group, Inc. (The) raised 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. Robert W. Baird set a $28.00 price objective on Nutanix and gave the stock a “buy” rating in a research report on Wednesday, June 28th. Piper Jaffray Companies set a $27.00 price objective on Nutanix and gave the stock a “buy” rating in a research report on Saturday, May 27th. Maxim Group reaffirmed a “buy” rating and set a $41.00 price objective on shares of Nutanix in a research report on Friday, May 26th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $27.00 price objective on shares of Nutanix in a research report on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $30.96.
Shares of Nutanix (NASDAQ NTNX) traded down 1.42% during trading on Friday, reaching $22.16. The company’s stock had a trading volume of 4,589,447 shares. The company’s market capitalization is $3.36 billion. Nutanix has a 1-year low of $14.38 and a 1-year high of $46.78. The stock has a 50 day moving average of $22.06 and a 200-day moving average of $20.05. Nutanix also was the target of unusually large options trading on Monday. Stock traders purchased 10,474 call options on the stock. This is an increase of 421% compared to the average daily volume of 2,010 call options.
Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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%. The firm’s quarterly revenue was up 61.7% on a year-over-year basis. On average, analysts expect that Nutanix will post ($1.05) earnings per share for the current year.
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In other Nutanix news, SVP Rajiv Mirani sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $17.16, for a total transaction of $343,200.00. The transaction was disclosed in a 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 company’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $21.97, for a total value of $27,129,039.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,216,967 shares of company stock valued at $46,693,393.
A number of institutional investors and hedge funds have recently bought and sold shares of NTNX. Norges Bank purchased a new stake in Nutanix during the 4th quarter valued at approximately $930,000. Wells Fargo & Company MN raised its stake in Nutanix by 30.7% during the 1st quarter. Wells Fargo & Company MN now owns 60,584 shares of the technology company’s stock valued at $1,137,000 after acquiring an additional 14,233 shares during the last quarter. State Treasurer State of Michigan purchased a new stake in Nutanix during the 1st quarter valued at approximately $1,919,000. Bank of New York Mellon Corp raised its stake in Nutanix by 31.0% during the 1st quarter. Bank of New York Mellon Corp now owns 42,718 shares of the technology company’s stock valued at $802,000 after acquiring an additional 10,119 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Nutanix by 70.2% during the 1st quarter. Ameriprise Financial Inc. now owns 155,418 shares of the technology company’s stock valued at $2,916,000 after acquiring an additional 64,102 shares during the last quarter. 32.20% of the stock is owned by hedge funds and other institutional investors.
Nutanix Company Profile
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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