Nutanix Inc. (NTNX) Coverage Initiated by Analysts at Needham & Company LLC

Equities researchers at Needham & Company LLC assumed coverage on shares of Nutanix Inc. (NASDAQ:NTNX) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $45.00 price target on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 49.01% from the company’s current price.

Several other equities analysts have also weighed in on NTNX. Credit Suisse Group reaffirmed a “buy” rating and set a $38.00 target price on shares of Nutanix in a report on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $28.00 price target (up previously from $27.00) on shares of Nutanix in a report on Thursday, August 31st. Robert W. Baird reaffirmed a “buy” rating and set a $28.00 target price on shares of Nutanix in a research note on Friday, September 1st. Maxim Group reaffirmed a “buy” rating and set a $41.00 target price on shares of Nutanix in a research note on Friday, September 1st. Finally, KeyCorp reaffirmed a “buy” rating and set a $32.00 target price on shares of Nutanix in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Nutanix has a consensus rating of “Buy” and a consensus price target of $31.11.

Nutanix (NASDAQ NTNX) opened at $30.20 on Wednesday. Nutanix has a 1-year low of $14.38 and a 1-year high of $34.75.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Thursday, August 31st. The technology company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.05. The business had revenue of $226.10 million for the quarter, compared to analysts’ expectations of $216.00 million. Nutanix had a negative net margin of 59.72% and a negative return on equity of 295.56%. The firm’s quarterly revenue was up 61.7% compared to the same quarter last year. sell-side analysts anticipate that Nutanix will post -2.19 earnings per share for the current year.

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In other news, EVP David Sangster sold 5,891 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $22.39, for a total value of $131,899.49. Following the completion of the sale, the executive vice president now directly owns 89,000 shares of the company’s stock, valued at $1,992,710. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey T. Parks sold 456,623 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $29.51, for a total value of $13,474,944.73. The disclosure for this sale can be found here. Insiders sold 1,167,578 shares of company stock valued at $31,299,439 over the last three months. Corporate insiders own 19.81% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. lifted its holdings in shares of Nutanix by 320.0% during the third quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock worth $118,000 after purchasing an additional 4,000 shares during the period. Legal & General Group Plc lifted its holdings in shares of Nutanix by 3,147.6% during the second quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after purchasing an additional 8,530 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Nutanix during the second quarter worth $186,000. Stifel Financial Corp acquired a new stake in shares of Nutanix during the third quarter worth $215,000. Finally, First Allied Advisory Services Inc. purchased a new position in Nutanix in the third quarter worth $215,000. 32.81% of the stock is owned by hedge funds and other institutional investors.

About Nutanix

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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