Nutanix Inc. (NTNX) Earns “Buy” Rating from Maxim Group
Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “buy” rating reaffirmed by equities research analysts at Maxim Group in a research report issued to clients and investors on Friday. They currently have a $41.00 price target on the technology company’s stock. Maxim Group’s price objective would indicate a potential upside of 85.02% from the stock’s current price.
Several other research firms also recently commented on NTNX. Morgan Stanley lifted their price objective on Nutanix from $19.00 to $22.00 and gave the stock a “weight” rating in a report on Friday, September 1st. KeyCorp restated a “buy” rating and set a $32.00 price target on shares of Nutanix in a research note on Friday, September 1st. William Blair restated a “buy” rating on shares of Nutanix in a research note on Thursday, August 31st. Bank of America Corporation restated a “buy” rating and set a $27.00 price target on shares of Nutanix in a research note on Thursday, August 31st. Finally, Credit Suisse Group restated a “buy” rating and set a $38.00 price target on shares of Nutanix in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $30.96.
Shares of Nutanix (NASDAQ:NTNX) traded down 1.42% during trading on Friday, hitting $22.16. 4,589,447 shares of the company were exchanged. The stock’s market capitalization is $3.36 billion. The company has a 50 day moving average of $22.06 and a 200-day moving average of $20.05. Nutanix has a 1-year low of $14.38 and a 1-year high of $46.78. Nutanix also saw unusually large options trading on Monday. Stock traders bought 10,474 call options on the stock. This represents 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) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.05. Nutanix had a negative return on equity of 248.46% and a negative net margin of 59.72%. The company had revenue of $226.10 million during the quarter, compared to the consensus estimate of $216 million. The firm’s revenue was up 61.7% compared to the same quarter last year. On average, analysts forecast that Nutanix will post ($1.05) earnings per share for the current year.
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In related news, SVP Rajiv Mirani sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $21.55, for a total value of $431,000.00. Following the transaction, the senior vice president now directly owns 271,000 shares of the company’s stock, valued at approximately $5,840,050. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Kenneth W. Long III sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $24.00, for a total value of $720,000.00. Following the completion of the transaction, the vice president now directly owns 240,234 shares in the company, valued at $5,765,616. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,216,967 shares of company stock worth $46,693,393.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio lifted its holdings in Nutanix by 6.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 135,605 shares of the technology company’s stock worth $2,732,000 after purchasing an additional 8,066 shares in the last quarter. Fairfield Bush & CO. purchased a new position in Nutanix in the 2nd quarter worth approximately $2,760,000. California State Teachers Retirement System lifted its holdings in Nutanix by 107.0% in the 2nd quarter. California State Teachers Retirement System now owns 61,700 shares of the technology company’s stock worth $1,243,000 after purchasing an additional 31,900 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Nutanix by 661.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,383 shares of the technology company’s stock worth $612,000 after purchasing an additional 26,393 shares in the last quarter. Finally, State Street Corp lifted its holdings in Nutanix by 146.7% in the 2nd quarter. State Street Corp now owns 547,995 shares of the technology company’s stock worth $11,042,000 after purchasing an additional 325,821 shares in the last quarter. 32.20% of the stock is currently owned by 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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