Brokerages Set Nutanix Inc. (NASDAQ:NTNX) Price Target at $31.84

Nutanix Inc. (NASDAQ:NTNX) has been given a consensus recommendation of “Buy” by the twenty-four analysts that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $31.84.

Several research firms have recently issued reports on NTNX. Pacific Crest restated an “overweight” rating and issued a $30.00 target price on shares of Nutanix in a report on Monday, July 3rd. Bank of America Corporation restated a “buy” rating and issued a $27.00 target price on shares of Nutanix in a report on Tuesday, May 30th. Credit Suisse Group restated an “outperform” rating and issued a $38.00 target price on shares of Nutanix in a report on Thursday, May 25th. William Blair restated an “outperform” rating on shares of Nutanix in a report on Tuesday, May 2nd. Finally, Maxim Group restated a “buy” rating and issued a $41.00 target price on shares of Nutanix in a report on Saturday, June 3rd.

In other Nutanix news, insider Sunil Potti sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $22.57, for a total transaction of $225,700.00. Following the transaction, the insider now owns 131,382 shares of the company’s stock, valued at approximately $2,965,291.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kenneth W. Long III sold 30,000 shares of Nutanix stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $24.00, for a total transaction of $720,000.00. Following the completion of 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. Insiders have sold a total of 3,563,737 shares of company stock worth $71,765,588 in the last three months.

Hedge funds and other institutional investors have recently modified their holdings of the company. Aberdeen Asset Management PLC UK purchased a new position in shares of Nutanix during the first quarter worth about $817,000. Hodges Capital Management Inc. increased its position in shares of Nutanix by 112.9% in the first quarter. Hodges Capital Management Inc. now owns 1,024,790 shares of the technology company’s stock worth $19,235,000 after buying an additional 543,450 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Nutanix by 70.2% in the first quarter. Ameriprise Financial Inc. now owns 155,418 shares of the technology company’s stock worth $2,916,000 after buying an additional 64,102 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Nutanix by 31.0% in the first quarter. Bank of New York Mellon Corp now owns 42,718 shares of the technology company’s stock worth $802,000 after buying an additional 10,119 shares during the last quarter. Finally, State Treasurer State of Michigan purchased a new position in shares of Nutanix during the first quarter worth about $1,919,000. 19.16% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix (NASDAQ NTNX) traded up 3.77% during trading on Monday, hitting $21.48. 2,138,182 shares of the company’s stock traded hands. Nutanix has a 12 month low of $14.38 and a 12 month high of $46.78. The company’s 50 day moving average is $21.10 and its 200-day moving average is $21.38. The stock’s market cap is $3.25 billion.

Nutanix (NASDAQ:NTNX) last released its earnings results on Thursday, May 25th. The technology company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by $0.32. The firm had revenue of $191.76 million during the quarter, compared to the consensus estimate of $186.56 million. Nutanix had a negative return on equity of 5,196.17% and a negative net margin of 61.32%. The business’s revenue was up 67.2% on a year-over-year basis. On average, analysts predict that Nutanix will post ($1.45) earnings per share for the current year.

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Nutanix Company Profile

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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