Goldman Sachs Group Begins Coverage on Nutanix (NTNX)

Stock analysts at Goldman Sachs Group assumed coverage on shares of Nutanix (NASDAQ:NTNX) in a report issued on Wednesday. The firm set a “conviction-buy” rating and a $43.00 price target on the technology company’s stock. Goldman Sachs Group’s target price indicates a potential upside of 30.54% from the company’s current price.

NTNX has been the subject of several other reports. Vetr upgraded Nutanix from a “hold” rating to a “strong-buy” rating and set a $30.51 price objective for the company in a research note on Monday, October 16th. ValuEngine downgraded shares of Nutanix from a “hold” rating to a “sell” rating in a report on Thursday, November 9th. Maxim Group reaffirmed a “buy” rating and issued a $51.00 target price on shares of Nutanix in a report on Friday, December 22nd. Needham & Company LLC started coverage on shares of Nutanix in a report on Wednesday, November 22nd. They issued a “buy” rating and a $45.00 target price for the company. Finally, Zacks Investment Research downgraded shares of Nutanix from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Nutanix currently has an average rating of “Buy” and a consensus target price of $36.30.

Nutanix (NTNX) traded up $1.71 during trading hours on Wednesday, hitting $32.94. The stock had a trading volume of 3,484,094 shares, compared to its average volume of 3,455,187. The stock has a market cap of $5,240.00 and a price-to-earnings ratio of -13.62. Nutanix has a 52-week low of $14.38 and a 52-week high of $38.80.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Thursday, November 30th. The technology company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.10. The firm had revenue of $275.60 million during the quarter, compared to analyst estimates of $267.02 million. Nutanix had a negative return on equity of 271.31% and a negative net margin of 40.81%. Nutanix’s revenue was up 46.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.37) EPS. equities research analysts expect that Nutanix will post -1.71 EPS for the current year.

In other news, VP Kenneth W. Long III sold 30,000 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $29.11, for a total transaction of $873,300.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey T. Parks sold 456,623 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $29.51, for a total transaction of $13,474,944.73. The disclosure for this sale can be found here. Insiders sold a total of 2,508,645 shares of company stock worth $82,140,601 over the last three months. 19.81% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Swiss National Bank increased its holdings in Nutanix by 90.3% in the fourth quarter. Swiss National Bank now owns 109,400 shares of the technology company’s stock valued at $3,860,000 after buying an additional 51,900 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of Nutanix during the fourth quarter worth about $1,270,000. Affinity Investment Advisors LLC purchased a new stake in shares of Nutanix during the fourth quarter worth about $320,000. California Public Employees Retirement System purchased a new stake in shares of Nutanix during the fourth quarter worth about $3,796,000. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Nutanix during the fourth quarter worth about $773,000. Institutional investors and hedge funds own 34.65% of the company’s stock.

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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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