Nutanix (NTNX) Rating Reiterated by Maxim Group
Maxim Group reissued their buy rating on shares of Nutanix (NASDAQ:NTNX) in a research note issued to investors on Friday morning, MarketBeat Ratings reports. Maxim Group currently has a $54.00 target price on the technology company’s stock, up from their previous target price of $51.00.
“Billings beat by 11%, adjusted billings for reduction in pass-through hardware up 63% y/y. Midpoint guidance implies adjusted billings growth of 61% y/y, gross profit growth of 49% y/y. Reiterating Buy rating and raising price target to $54, from $51.”,” the firm’s analyst wrote.
A number of other analysts also recently commented on NTNX. Needham & Company LLC began coverage on Nutanix in a research report on Wednesday, November 22nd. They issued a buy rating and a $45.00 price objective for the company. Vetr downgraded Nutanix from a strong-buy rating to a buy rating and set a $33.55 price objective for the company. in a research report on Tuesday, November 21st. Robert W. Baird reiterated a buy rating and issued a $41.00 price objective (up previously from $31.00) on shares of Nutanix in a research report on Wednesday, November 29th. Royal Bank of Canada reiterated a buy rating and issued a $40.00 price objective on shares of Nutanix in a research report on Friday, December 1st. Finally, Piper Jaffray Companies reiterated a buy rating and issued a $40.00 price objective on shares of Nutanix in a research report on Friday, December 1st. Three research analysts have rated the stock with a sell rating, six have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Nutanix currently has an average rating of Buy and an average price target of $37.26.
Nutanix (NASDAQ:NTNX) last released its earnings results on Thursday, March 1st. The technology company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.06. The firm had revenue of $286.70 million for the quarter, compared to analyst estimates of $283.22 million. Nutanix had a negative return on equity of 270.61% and a negative net margin of 33.34%. The company’s revenue was up 44.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.28) EPS. sell-side analysts forecast that Nutanix will post -1.71 earnings per share for the current fiscal year.
In related news, Director Michael Scarpelli sold 150,000 shares of the firm’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $35.68, for a total transaction of $5,352,000.00. Following the completion of the transaction, the director now owns 55,300 shares in the company, valued at approximately $1,973,104. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey T. Parks sold 285,975 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Insiders have sold a total of 1,276,667 shares of company stock valued at $45,624,122 in the last 90 days. 19.81% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Nutanix by 89.6% during the 4th quarter. BlackRock Inc. now owns 5,875,339 shares of the technology company’s stock worth $207,282,000 after buying an additional 2,776,194 shares during the period. Cramer Rosenthal Mcglynn LLC lifted its position in shares of Nutanix by 124.9% during the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 1,473,512 shares of the technology company’s stock worth $51,986,000 after buying an additional 818,378 shares during the period. Contour Asset Management LLC acquired a new stake in Nutanix during the 4th quarter valued at $35,868,000. Artemis Investment Management LLP increased its holdings in Nutanix by 17.9% during the 3rd quarter. Artemis Investment Management LLP now owns 844,784 shares of the technology company’s stock valued at $18,910,000 after purchasing an additional 128,493 shares in the last quarter. Finally, Trinity Street Asset Management LLP acquired a new stake in Nutanix during the 4th quarter valued at $29,363,000. Institutional investors and hedge funds own 38.31% of the company’s stock.
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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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