Nutanix (NASDAQ:NTNX) had its target price lifted by equities researchers at Needham & Company LLC from $45.00 to $48.00 in a research report issued on Friday. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 46.34% from the stock’s previous close.

NTNX has been the subject of a number of other reports. William Blair reiterated a “buy” rating on shares of Nutanix in a report on Thursday, August 31st. JMP Securities reiterated an “outperform” rating and issued a $35.00 price target on shares of Nutanix in a report on Sunday, September 3rd. ValuEngine cut Nutanix from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Zacks Investment Research lowered Nutanix from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, Oppenheimer reissued a “buy” rating and issued a $34.00 target price on shares of Nutanix in a research note on Thursday, September 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $32.91.

Shares of Nutanix (NASDAQ:NTNX) traded up $0.28 on Friday, hitting $32.80. 5,605,400 shares of the stock traded hands, compared to its average volume of 3,062,181. Nutanix has a 52 week low of $14.38 and a 52 week high of $35.00.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Thursday, November 30th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.10. Nutanix had a negative net margin of 59.72% and a negative return on equity of 295.56%. The company had revenue of $275.60 million during the quarter, compared to the consensus estimate of $267.02 million. During the same quarter in the previous year, the company posted ($0.37) earnings per share. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. sell-side analysts expect that Nutanix will post -2.19 EPS for the current year.

In other Nutanix news, EVP David Sangster sold 27,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $21.13, for a total transaction of $570,510.00. Following the completion of the transaction, the executive vice president now directly owns 103,500 shares of the company’s stock, valued at $2,186,955. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Sudheesh Nair Vadakkedath sold 50,000 shares of the stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.07, for a total value of $1,703,500.00. Following the transaction, the president now directly owns 228,330 shares of the company’s stock, valued at $7,779,203.10. The disclosure for this sale can be found here. Insiders have sold 1,818,869 shares of company stock valued at $50,980,098 over the last ninety days. 19.81% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in Nutanix by 320.6% during the second quarter. FMR LLC now owns 12,043,981 shares of the technology company’s stock valued at $242,686,000 after purchasing an additional 9,180,123 shares in the last quarter. Vanguard Group Inc. boosted its position in Nutanix by 65.5% during the 1st quarter. Vanguard Group Inc. now owns 3,275,441 shares of the technology company’s stock valued at $61,480,000 after acquiring an additional 1,295,813 shares in the last quarter. Sapphire Ventures L.L.C. bought a new stake in Nutanix during the 1st quarter valued at approximately $51,506,000. Franklin Resources Inc. bought a new stake in Nutanix during the 2nd quarter valued at approximately $55,063,000. Finally, Raging Capital Management LLC bought a new stake in Nutanix during the 1st quarter valued at approximately $27,315,000. 35.34% of the stock is owned by hedge funds and other institutional investors.

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About Nutanix

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.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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