Nutanix Inc. (NTNX) Earns Outperform Rating from JMP Securities
Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “outperform” rating restated by JMP Securities in a research report issued to clients and investors on Sunday. They presently have a $35.00 price objective on the technology company’s stock. JMP Securities’ price objective would indicate a potential upside of 57.94% from the stock’s current price.
Other analysts have also recently issued reports about the company. Piper Jaffray Companies set a $27.00 price objective on Nutanix and gave the company a “buy” rating in a research note on Saturday, May 27th. Maxim Group reissued a “buy” rating and issued a $41.00 target price on shares of Nutanix in a report on Saturday, June 3rd. BTIG Research reissued a “neutral” rating on shares of Nutanix in a report on Monday, July 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $34.00 price objective on shares of Nutanix in a report on Friday, June 30th. Finally, Jefferies Group LLC assumed coverage on Nutanix in a report on Thursday, August 17th. They set a “buy” rating and a $30.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.96.
Shares of Nutanix (NASDAQ:NTNX) traded down 1.42% during midday trading on Friday, hitting $22.16. The company had a trading volume of 4,589,447 shares. The company has a 50-day moving average of $22.06 and a 200-day moving average of $20.05. Nutanix has a 12 month low of $14.38 and a 12 month high of $46.78. The company’s market capitalization is $3.36 billion. Nutanix also was the recipient of some unusual options trading on Monday. Stock traders bought 10,474 call options on the company. This represents an increase of 421% compared to the typical daily volume of 2,010 call options.
Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Thursday, August 31st. The technology company reported ($0.33) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.05. The company had revenue of $226.10 million for 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 revenue for the quarter was up 61.7% compared to the same quarter last year. Analysts predict that Nutanix will post ($1.05) earnings per share for the current year.
In other news, SVP Rajiv Mirani sold 4,600 shares of the business’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $20.02, for a total value of $92,092.00. Following the completion of the sale, the senior vice president now owns 255,600 shares of the company’s stock, valued at approximately $5,117,112. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sunil Potti sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $21.43, for a total transaction of $214,300.00. Following the completion of the sale, the insider now directly owns 123,603 shares of the company’s stock, valued at approximately $2,648,812.29. The disclosure for this sale can be found here. Insiders sold a total of 2,216,967 shares of company stock valued at $46,693,393 in the last three months.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of Nutanix by 3,147.6% in the 2nd quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after purchasing an additional 8,530 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Nutanix in the 2nd quarter worth about $186,000. First American Bank bought a new stake in shares of Nutanix in the 2nd quarter worth about $205,000. PNC Financial Services Group Inc. bought a new stake in shares of Nutanix in the 2nd quarter worth about $208,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Nutanix in the 1st quarter worth about $211,000. 32.20% of the stock is owned by 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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