Nutanix (NTNX) Price Target Raised to $35.00 at Morgan Stanley

Nutanix (NASDAQ:NTNX) had its price target hoisted by equities researchers at Morgan Stanley from $22.00 to $35.00 in a research report issued on Friday. Morgan Stanley’s price objective points to a potential downside of 2.94% from the stock’s previous close.

A number of other equities research analysts have also issued reports on NTNX. Stifel Nicolaus set a $25.00 target price on shares of Nutanix and gave the stock a “hold” rating in a report on Tuesday, August 15th. Jefferies Group started coverage on shares of Nutanix in a report on Thursday, August 17th. They set a “buy” rating and a $30.00 target price for the company. William Blair reaffirmed a “buy” rating on shares of Nutanix in a report on Thursday, August 31st. Bank of America reissued a “buy” rating and issued a $27.00 price objective on shares of Nutanix in a report on Thursday, August 31st. Finally, KeyCorp reissued a “buy” rating and issued a $32.00 price objective on shares of Nutanix in a report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $33.74.

Nutanix (NASDAQ NTNX) traded up $3.26 during trading on Friday, hitting $36.06. 20,915,961 shares of the stock were exchanged, 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 released its earnings results on Thursday, November 30th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.10. Nutanix had a negative net margin of 40.81% and a negative return on equity of 363.55%. The business had revenue of $275.60 million during the quarter, compared to analyst estimates of $267.02 million. During the same quarter in the prior year, the firm earned ($0.37) earnings per share. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. equities research analysts forecast that Nutanix will post -2.19 EPS for the current fiscal year.

In other Nutanix news, Director Jeffrey T. Parks sold 30,089 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $29.27, for a total transaction of $880,705.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David Sangster sold 27,000 shares of the stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $21.13, for a total transaction of $570,510.00. Following the transaction, the executive vice president now directly owns 103,500 shares of the company’s stock, valued at approximately $2,186,955. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,818,869 shares of company stock valued at $50,980,098. 19.81% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in Nutanix by 320.6% during the second quarter. FMR LLC now owns 12,043,981 shares of the technology company’s stock worth $242,686,000 after buying an additional 9,180,123 shares during the period. Vanguard Group Inc. boosted its stake in Nutanix by 65.5% during the first quarter. Vanguard Group Inc. now owns 3,275,441 shares of the technology company’s stock worth $61,480,000 after buying an additional 1,295,813 shares during the period. Franklin Resources Inc. purchased a new position in Nutanix during the second quarter worth about $55,063,000. Hodges Capital Management Inc. boosted its stake in Nutanix by 40.3% during the second quarter. Hodges Capital Management Inc. now owns 1,437,788 shares of the technology company’s stock worth $28,971,000 after buying an additional 412,998 shares during the period. Finally, Artemis Investment Management LLP boosted its stake in Nutanix by 17.9% during the third quarter. Artemis Investment Management LLP now owns 844,784 shares of the technology company’s stock worth $18,910,000 after buying an additional 128,493 shares during the period. 35.34% of the stock is owned by institutional investors.

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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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