Nutanix (NASDAQ:NTNX) Receives $75.13 Consensus Target Price from Analysts

Nutanix (NASDAQ:NTNX) has received a consensus rating of “Moderate Buy” from the nineteen brokerages that are covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and thirteen have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $75.1333.

A number of equities research analysts recently commented on the stock. Northland Securities dropped their price objective on shares of Nutanix from $76.00 to $53.00 and set a “market perform” rating on the stock in a report on Wednesday, November 26th. Northland Capmk downgraded Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Nutanix in a research report on Monday. Bank of America decreased their price objective on Nutanix from $93.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Finally, Zacks Research lowered Nutanix from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th.

Nutanix Price Performance

Shares of Nutanix stock opened at $51.96 on Wednesday. The company has a market capitalization of $14.05 billion, a P/E ratio of 69.28, a price-to-earnings-growth ratio of 5.57 and a beta of 0.53. The business has a 50-day moving average of $58.02 and a two-hundred day moving average of $67.70. Nutanix has a 1 year low of $46.12 and a 1 year high of $83.36.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $670.58 million during the quarter, compared to analyst estimates of $677.23 million. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.Nutanix’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.42 EPS. On average, equities analysts anticipate that Nutanix will post 0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other Nutanix news, CEO Rajiv Ramaswami sold 144,707 shares of the business’s stock in a transaction dated Thursday, October 2nd. The shares were sold at an average price of $76.42, for a total transaction of $11,058,508.94. Following the sale, the chief executive officer directly owned 524,608 shares of the company’s stock, valued at $40,090,543.36. The trade was a 21.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Teresa Gayle Sheppard sold 3,500 shares of the stock in a transaction dated Thursday, October 2nd. The stock was sold at an average price of $76.48, for a total transaction of $267,680.00. Following the transaction, the director owned 22,400 shares of the company’s stock, valued at approximately $1,713,152. This represents a 13.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.40% of the company’s stock.

Institutional Trading of Nutanix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank bought a new position in Nutanix in the second quarter valued at approximately $263,938,000. AQR Capital Management LLC boosted its holdings in shares of Nutanix by 40.6% in the 3rd quarter. AQR Capital Management LLC now owns 6,626,271 shares of the technology company’s stock valued at $492,928,000 after buying an additional 1,914,005 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Nutanix by 75.9% in the second quarter. Marshall Wace LLP now owns 3,279,107 shares of the technology company’s stock valued at $250,655,000 after buying an additional 1,415,117 shares in the last quarter. Jericho Capital Asset Management L.P. increased its holdings in Nutanix by 46.8% during the first quarter. Jericho Capital Asset Management L.P. now owns 4,102,993 shares of the technology company’s stock worth $286,430,000 after buying an additional 1,308,357 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Nutanix by 4.6% during the third quarter. Vanguard Group Inc. now owns 26,682,475 shares of the technology company’s stock worth $1,984,909,000 after buying an additional 1,167,193 shares during the last quarter. Institutional investors own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.