Nutanix’s (NTNX) Neutral Rating Reaffirmed at Susquehanna Bancshares Inc
Nutanix Inc. (NASDAQ:NTNX)‘s stock had its “neutral” rating reissued by analysts at Susquehanna Bancshares Inc in a report issued on Sunday. They presently have a $21.00 price target on the technology company’s stock, up from their previous price target of $19.00. Susquehanna Bancshares Inc’s price target points to a potential downside of 5.23% from the company’s previous close.
Several other research analysts have also weighed in on the company. 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. Morgan Stanley upgraded Nutanix from an “underweight” rating to an “equal weight” rating and set a $19.00 price objective for the company in a research report on Wednesday, May 10th. They noted that the move was a valuation call. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $34.00 price objective on shares of Nutanix in a research report on Wednesday, July 5th. Bank of America Corporation restated a “buy” rating and set a $27.00 price target on shares of Nutanix in a research note on Tuesday, May 30th. Finally, Maxim Group restated a “buy” rating and set a $41.00 price target on shares of Nutanix in a research note on Friday, May 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $30.96.
Shares of Nutanix (NASDAQ NTNX) traded down 1.42% during trading on Friday, hitting $22.16. The stock 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 firm’s 50-day moving average is $22.06 and its 200 day moving average is $20.05. The firm’s market cap is $3.36 billion. Nutanix also saw unusually large options trading on Monday. Stock investors acquired 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 issued its quarterly earnings data on Thursday, August 31st. The technology company reported ($0.33) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.05. The company had revenue of $226.10 million during the quarter, compared to analyst estimates of $216 million. Nutanix had a negative return on equity of 248.46% and a negative net margin of 59.72%. Nutanix’s revenue was up 61.7% compared to the same quarter last year. On average, analysts expect that Nutanix will post ($1.05) EPS for the current year.
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In other news, SVP Rajiv Mirani sold 4,600 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $20.02, for a total value of $92,092.00. Following the sale, the senior vice president now directly owns 255,600 shares in the company, valued at $5,117,112. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Sangster sold 5,890 shares of the stock in a transaction on Monday, June 19th. The shares were sold at an average price of $18.06, for a total value of $106,373.40. Following the completion of the sale, the executive vice president now owns 114,500 shares in the company, valued at $2,067,870. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,216,967 shares of company stock worth $46,693,393.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc raised its stake in shares of Nutanix by 3,147.6% in the second quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock valued at $175,000 after acquiring an additional 8,530 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Nutanix in the second quarter valued at $186,000. First American Bank acquired a new stake in shares of Nutanix in the second quarter valued at $205,000. PNC Financial Services Group Inc. acquired a new stake in shares of Nutanix in the second quarter valued at $208,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Nutanix in the first quarter valued at $211,000. Institutional investors and hedge funds own 32.20% of the company’s stock.
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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