Vetr Inc. Downgrades Nutanix Inc. (NTNX) to Buy
Nutanix Inc. (NASDAQ:NTNX) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Tuesday. They currently have a $27.22 price target on the technology company’s stock. Vetr‘s target price would suggest a potential upside of 6.29% from the stock’s previous close.
A number of other research firms also recently issued reports on NTNX. Robert W. Baird restated a “buy” rating and issued a $31.00 target price (up from $28.00) on shares of Nutanix in a report on Monday, September 25th. Maxim Group reiterated a “buy” rating and set a $41.00 price objective on shares of Nutanix in a research note on Friday, September 22nd. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $34.00 price objective on shares of Nutanix in a research note on Thursday, September 7th. Morgan Stanley reiterated an “equal weight” rating and set a $22.00 price objective on shares of Nutanix in a research note on Sunday, October 1st. Finally, Zacks Investment Research upgraded shares of Nutanix from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Friday, September 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $30.28.
Shares of Nutanix (NASDAQ:NTNX) traded up 9.87% during trading on Tuesday, hitting $25.61. 15,571,907 shares of the stock traded hands. The firm’s market cap is $3.97 billion. The company’s 50 day moving average is $22.85 and its 200 day moving average is $22.85. Nutanix has a 52-week low of $21.21 and a 52-week high of $35.90.
Nutanix (NASDAQ:NTNX) last released its earnings results on Thursday, August 31st. The technology company reported ($0.33) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. Nutanix had a negative net margin of 59.72% and a negative return on equity of 295.56%. The firm had revenue of $226.10 million during the quarter, compared to the consensus estimate of $216.00 million. Nutanix’s revenue was up 61.7% on a year-over-year basis. On average, equities research analysts predict that Nutanix will post ($0.94) EPS for the current year.
In other news, Director Jeffrey T. Parks sold 1,234,822 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $21.97, for a total transaction of $27,129,039.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Sudheesh Nair Vadakkedath sold 25,000 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $22.41, for a total transaction of $560,250.00. Following the transaction, the president now owns 311,519 shares of the company’s stock, valued at approximately $6,981,140.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,646,713 shares of company stock valued at $36,183,779.
Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of Nutanix by 3,147.6% during the second quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after acquiring an additional 8,530 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Nutanix during the third quarter worth about $185,000. SG Americas Securities LLC bought a new position in shares of Nutanix during the second quarter worth about $186,000. First American Bank bought a new position in shares of Nutanix during the second quarter worth about $205,000. Finally, PNC Financial Services Group Inc. bought a new position in shares of Nutanix during the second quarter worth about $208,000. Institutional investors and hedge funds own 31.48% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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