Credit Suisse Group Reiterates Buy Rating for Nutanix Inc. (NTNX)
Credit Suisse Group reissued their buy rating on shares of Nutanix Inc. (NASDAQ:NTNX) in a research report sent to investors on Friday. Credit Suisse Group currently has a $38.00 price objective on the technology company’s stock.
A number of other research analysts have also recently weighed in on NTNX. Goldman Sachs Group, Inc. (The) upgraded shares of Nutanix from a buy rating to a conviction-buy rating and set a $31.00 target price on the stock in a research note on Friday, July 14th. Piper Jaffray Companies restated an outperform rating on shares of Nutanix in a research note on Sunday, April 2nd. Robert W. Baird restated a buy rating on shares of Nutanix in a research note on Friday, May 26th. Maxim Group restated a buy rating and set a $41.00 price target on shares of Nutanix in a research note on Saturday, June 3rd. Finally, Pacific Crest restated an overweight rating and set a $30.00 price target on shares of Nutanix in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $32.01.
Shares of Nutanix (NASDAQ NTNX) opened at 21.245 on Friday. The company has a 50-day moving average of $20.27 and a 200 day moving average of $21.65. The firm’s market capitalization is $3.22 billion. Nutanix has a 52 week low of $14.38 and a 52 week high of $46.78.
Nutanix (NASDAQ:NTNX) last released its earnings results on Thursday, May 25th. The technology company reported ($0.77) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.45) by $0.32. The company had revenue of $191.76 million during the quarter, compared to analysts’ expectations of $186.56 million. Nutanix had a negative net margin of 61.32% and a negative return on equity of 5,196.17%. The company’s revenue for the quarter was up 67.2% compared to the same quarter last year. Equities research analysts anticipate that Nutanix will post ($1.45) earnings per share for the current year.
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In related news, EVP David Sangster sold 27,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $19.04, for a total transaction of $514,080.00. Following the transaction, the executive vice president now owns 139,500 shares of the company’s stock, valued at approximately $2,656,080. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Kenneth W. Long III sold 30,000 shares of the stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $720,000.00. Following the transaction, the vice president now directly owns 240,234 shares in the company, valued at approximately $5,765,616. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,536,737 shares of company stock worth $71,191,028.
Large investors have recently made changes to their positions in the company. First American Bank purchased a new stake in shares of Nutanix during the second quarter worth about $205,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Nutanix during the first quarter worth about $211,000. Washington Capital Management Inc. purchased a new stake in shares of Nutanix during the first quarter worth about $225,000. IPG Investment Advisors LLC purchased a new stake in shares of Nutanix during the first quarter worth about $225,000. Finally, FNY Managed Accounts LLC purchased a new stake in shares of Nutanix during the first quarter worth about $244,000. 18.55% of the stock is currently owned by institutional investors and hedge funds.
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.
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