Nutanix (NTNX) Receives Overweight Rating from KeyCorp
Nutanix (NASDAQ:NTNX)‘s stock had its “overweight” rating reiterated by research analysts at KeyCorp in a report released on Thursday, The Fly reports. They currently have a $42.00 price target on the technology company’s stock, up from their previous price target of $37.00. KeyCorp’s price objective indicates a potential upside of 10.99% from the company’s current price.
NTNX has been the subject of a number of other research reports. Oppenheimer increased their target price on shares of Nutanix to $40.00 and gave the stock an “outperform” rating in a research report on Friday, December 1st. Royal Bank of Canada reissued an “outperform” rating and set a $37.00 target price (up previously from $34.00) on shares of Nutanix in a research report on Friday, November 24th. Piper Jaffray Companies set a $28.00 target price on shares of Nutanix and gave the stock a “buy” rating in a research report on Monday, October 23rd. Vetr downgraded shares of Nutanix from a “strong-buy” rating to a “buy” rating and set a $33.55 target price for the company. in a research report on Tuesday, November 21st. Finally, Maxim Group reissued a “buy” rating and set a $41.00 target price on shares of Nutanix in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.30.
Nutanix (NTNX) traded down $0.11 on Thursday, reaching $37.84. 1,919,557 shares of the company were exchanged, compared to its average volume of 4,100,000. The firm has a market cap of $6,070.00 and a P/E ratio of -15.64. Nutanix has a 12-month low of $14.38 and a 12-month high of $38.80.
Nutanix (NASDAQ:NTNX) last posted its earnings results on Thursday, November 30th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.10. The firm had revenue of $275.60 million during the quarter, compared to the consensus estimate of $267.02 million. Nutanix had a negative net margin of 40.81% and a negative return on equity of 271.31%. The company’s revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.37) EPS. equities analysts predict that Nutanix will post -1.71 earnings per share for the current fiscal year.
In other news, President Sudheesh Nair Vadakkedath sold 40,000 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $36.87, for a total transaction of $1,474,800.00. Following the completion of the transaction, the president now directly owns 193,856 shares in the company, valued at approximately $7,147,470.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $873,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,209,670 shares of company stock valued at $70,738,139. 19.81% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. American National Bank purchased a new position in shares of Nutanix during the 4th quarter valued at approximately $363,000. Belpointe Asset Management LLC purchased a new position in shares of Nutanix during the 3rd quarter valued at approximately $453,000. Janney Montgomery Scott LLC purchased a new position in shares of Nutanix during the 3rd quarter valued at approximately $441,000. Cubist Systematic Strategies LLC purchased a new position in shares of Nutanix during the 3rd quarter valued at approximately $1,117,000. Finally, Granahan Investment Management Inc. MA boosted its stake in shares of Nutanix by 24.5% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 126,645 shares of the technology company’s stock valued at $2,836,000 after buying an additional 24,907 shares during the last quarter. Institutional investors own 34.13% 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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