Vetr Lowers Nutanix (NTNX) to Buy
Vetr downgraded shares of Nutanix (NASDAQ:NTNX) from a strong-buy rating to a buy rating in a research report released on Monday. Vetr currently has $38.31 price target on the technology company’s stock.
A number of other research firms also recently issued reports on NTNX. Royal Bank Of Canada reiterated a buy rating and issued a $40.00 price objective on shares of Nutanix in a report on Friday, December 1st. Bank of America raised their target price on shares of Nutanix from $30.00 to $35.00 and gave the company a buy rating in a research note on Monday, September 18th. Needham & Company LLC initiated coverage on shares of Nutanix in a research note on Wednesday, November 22nd. They issued a buy rating and a $45.00 target price for the company. Jefferies Group initiated coverage on shares of Nutanix in a research note on Thursday, August 17th. They issued a buy rating and a $30.00 target price for the company. Finally, Raymond James Financial raised shares of Nutanix from a market perform rating to an outperform rating and set a $32.00 target price for the company in a research note on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Nutanix has a consensus rating of Buy and a consensus price target of $34.71.
Shares of Nutanix (NASDAQ NTNX) opened at $35.30 on Monday. Nutanix has a fifty-two week low of $14.38 and a fifty-two week high of $38.28.
Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Thursday, November 30th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.10. Nutanix had a negative net margin of 40.81% and a negative return on equity of 363.55%. The company had revenue of $275.60 million for the quarter, compared to the consensus estimate of $267.02 million. During the same period last year, the company earned ($0.37) earnings per share. The firm’s revenue was up 46.1% compared to the same quarter last year. analysts forecast that Nutanix will post -1.98 earnings per share for the current fiscal year.
In related news, President Sudheesh Nair Vadakkedath sold 75,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $21.88, for a total value of $1,641,000.00. Following the completion of the transaction, the president now owns 110,519 shares of the company’s stock, valued at $2,418,155.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Sunil Potti sold 10,000 shares of the business’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $21.56, for a total value of $215,600.00. Following the completion of the transaction, the insider now directly owns 113,603 shares of the company’s stock, valued at approximately $2,449,280.68. The disclosure for this sale can be found here. In the last three months, insiders sold 1,791,869 shares of company stock valued at $50,409,588. 19.81% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NTNX. FMR LLC raised its stake in Nutanix by 320.6% during the second quarter. FMR LLC now owns 12,043,981 shares of the technology company’s stock worth $242,686,000 after acquiring an additional 9,180,123 shares in the last quarter. Franklin Resources Inc. acquired a new position in Nutanix during the second quarter worth about $55,063,000. Vanguard Group Inc. raised its stake in Nutanix by 65.5% during the first quarter. Vanguard Group Inc. now owns 3,275,441 shares of the technology company’s stock worth $61,480,000 after acquiring an additional 1,295,813 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in Nutanix by 3,462.4% during the second quarter. Goldman Sachs Group Inc. now owns 734,886 shares of the technology company’s stock worth $14,808,000 after acquiring an additional 714,257 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC acquired a new position in Nutanix during the third quarter worth about $14,668,000. 35.35% of the stock is owned by hedge funds and other institutional investors.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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