Nutanix (NTNX) Earns “Buy” Rating from Royal Bank Of Canada

Nutanix (NASDAQ:NTNX)‘s stock had its “buy” rating reiterated by research analysts at Royal Bank Of Canada in a note issued to investors on Friday. They presently have a $40.00 price target on the technology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 10.93% from the company’s previous close.

Several other equities analysts have also recently commented on NTNX. Needham & Company LLC upped their price target on Nutanix from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday. Morgan Stanley upped their price target on Nutanix from $22.00 to $35.00 in a report on Friday. Maxim Group upped their price target on Nutanix from $39.00 to $51.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer upped their price target on Nutanix to $40.00 and gave the company an “outperform” rating in a report on Friday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $40.00 price target on shares of Nutanix in a report on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $33.87.

Nutanix (NASDAQ:NTNX) traded up $3.26 during midday trading on Friday, hitting $36.06. The company had a trading volume of 20,915,961 shares, compared to its average volume of 3,135,680. Nutanix has a fifty-two week low of $14.38 and a fifty-two week high of $38.28.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Thursday, November 30th. The technology company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.10. The business had revenue of $275.60 million during the quarter, compared to analysts’ expectations of $267.02 million. Nutanix had a negative return on equity of 363.55% and a negative net margin of 40.81%. The firm’s revenue was up 46.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.37) EPS. analysts forecast that Nutanix will post -2.19 earnings per share for the current fiscal year.

In other news, EVP David Sangster sold 5,891 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $22.39, for a total value of $131,899.49. Following the sale, the executive vice president now directly owns 89,000 shares in the company, valued at approximately $1,992,710. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jeffrey T. Parks sold 456,623 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $29.51, for a total value of $13,474,944.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,818,869 shares of company stock worth $50,980,098. Corporate insiders own 19.81% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. grew its stake in shares of Nutanix by 320.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock valued at $118,000 after purchasing an additional 4,000 shares during the period. Legal & General Group Plc grew its position in Nutanix by 3,147.6% during the 2nd 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. SG Americas Securities LLC bought a new stake in Nutanix during the 2nd quarter worth approximately $186,000. Stifel Financial Corp bought a new stake in Nutanix during the 3rd quarter worth approximately $215,000. Finally, First Allied Advisory Services Inc. bought a new stake in Nutanix during the 3rd quarter worth approximately $215,000. Institutional investors own 35.34% of the company’s stock.

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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.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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