Oppenheimer Boosts Nutanix (NTNX) Price Target to $40.00

Nutanix (NASDAQ:NTNX) had its price target boosted by Oppenheimer to $40.00 in a research note published on Friday. The firm currently has an outperform rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Nutanix from a hold rating to a buy rating and set a $25.00 price objective for the company in a research report on Friday, September 8th. Robert W. Baird reiterated a buy rating and set a $28.00 price objective on shares of Nutanix in a research report on Friday, September 1st. Maxim Group restated a buy rating and issued a $41.00 price target on shares of Nutanix in a research report on Friday, September 1st. KeyCorp restated a buy rating and issued a $32.00 price target on shares of Nutanix in a research report on Friday, September 1st. Finally, Piper Jaffray Companies restated a buy rating and issued a $28.00 price target (up previously from $27.00) on shares of Nutanix in a research report on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Nutanix currently has a consensus rating of Buy and a consensus target price of $33.93.

Shares of Nutanix (NASDAQ NTNX) opened at $36.06 on Friday. Nutanix has a 1 year low of $14.38 and a 1 year high of $38.28.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Thursday, November 30th. The technology company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. The company had revenue of $275.60 million during the quarter, compared to analysts’ expectations of $267.02 million. Nutanix had a negative return on equity of 363.55% and a negative net margin of 40.81%. Nutanix’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.37) earnings per share. research analysts forecast that Nutanix will post -2.19 EPS for the current year.

In related news, EVP David Sangster sold 27,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $21.13, for a total transaction of $570,510.00. Following the completion of the transaction, the executive vice president now directly owns 103,500 shares of the company’s stock, valued at $2,186,955. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Sudheesh Nair Vadakkedath sold 50,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $34.07, for a total value of $1,703,500.00. Following the transaction, the president now directly owns 228,330 shares of the company’s stock, valued at $7,779,203.10. The disclosure for this sale can be found here. Insiders have sold 1,818,869 shares of company stock valued at $50,980,098 in the last quarter. 19.81% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in NTNX. Vanguard Group Inc. lifted its stake in shares of Nutanix by 65.5% in the 1st quarter. Vanguard Group Inc. now owns 3,275,441 shares of the technology company’s stock valued at $61,480,000 after purchasing an additional 1,295,813 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Nutanix by 12.2% in the 1st quarter. Geode Capital Management LLC now owns 129,489 shares of the technology company’s stock valued at $2,430,000 after purchasing an additional 14,097 shares during the last quarter. Morgan Stanley lifted its stake in shares of Nutanix by 1,096.4% in the 1st quarter. Morgan Stanley now owns 249,427 shares of the technology company’s stock valued at $4,682,000 after purchasing an additional 228,579 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Nutanix by 54.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 40,683 shares of the technology company’s stock valued at $764,000 after purchasing an additional 14,371 shares during the last quarter. Finally, Credit Suisse AG bought a new stake in shares of Nutanix in the 1st quarter valued at approximately $418,000. 35.35% of the stock is owned by institutional investors.

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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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