Nutanix (NTNX) Lowered to Buy at Vetr

Nutanix (NASDAQ:NTNX) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They currently have a $37.59 price objective on the technology company’s stock. Vetr‘s price target suggests a potential upside of 9.85% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reissued a “buy” rating and set a $40.00 price target on shares of Nutanix in a report on Friday, December 1st. Needham & Company LLC increased their price target on Nutanix from $45.00 to $48.00 and gave the company a “buy” rating in a report on Friday, December 1st. Maxim Group increased their price target on Nutanix from $39.00 to $51.00 and gave the company a “buy” rating in a report on Friday, December 1st. Piper Jaffray Companies reissued a “buy” rating and set a $40.00 price target on shares of Nutanix in a report on Friday, December 1st. Finally, Robert W. Baird reissued a “buy” rating and set a $41.00 price target (up from $31.00) on shares of Nutanix in a report on Wednesday, November 29th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $36.24.

Nutanix (NASDAQ NTNX) traded up $1.03 during midday trading on Wednesday, hitting $34.22. The stock had a trading volume of 2,650,000 shares, compared to its average volume of 3,460,000. The company has a market cap of $5,490.00 and a PE ratio of -14.14. Nutanix has a 12-month low of $14.38 and a 12-month high of $38.80.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Thursday, November 30th. The technology company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. The firm had revenue of $275.60 million for the quarter, compared to analysts’ expectations of $267.02 million. Nutanix had a negative return on equity of 271.31% and a negative net margin of 40.81%. The company’s revenue was up 46.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) EPS. research analysts anticipate that Nutanix will post -1.71 earnings per share for the current fiscal year.

In other Nutanix news, Director Jeffrey T. Parks sold 285,975 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $37.54, for a total value of $10,735,501.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey T. Parks sold 456,623 shares of the stock in a transaction on Friday, November 17th. The stock was 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 ninety days, insiders sold 2,344,581 shares of company stock worth $77,422,126. 19.81% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the business. Delpha Capital Management LLC purchased a new stake in Nutanix in the 4th quarter worth $104,000. Focused Wealth Management Inc increased its stake in Nutanix by 107.2% in the 4th quarter. Focused Wealth Management Inc now owns 4,059 shares of the technology company’s stock worth $143,000 after buying an additional 2,100 shares in the last quarter. US Bancorp DE increased its stake in Nutanix by 850.6% in the 4th quarter. US Bancorp DE now owns 4,753 shares of the technology company’s stock worth $168,000 after buying an additional 4,253 shares in the last quarter. Thompson Davis & CO. Inc. increased its stake in Nutanix by 320.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock worth $118,000 after buying an additional 4,000 shares in the last quarter. Finally, First American Bank purchased a new stake in Nutanix in the 4th quarter worth $207,000. Institutional investors and hedge funds own 34.83% 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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