Needham & Company LLC Boosts Nutanix (NTNX) Price Target to $48.00

Nutanix (NASDAQ:NTNX) had its target price increased by Needham & Company LLC from $45.00 to $48.00 in a research report sent to investors on Friday, Marketbeat.com reports. They currently have a buy rating on the technology company’s stock.

A number of other research firms also recently commented on NTNX. Oppenheimer reissued a buy rating and issued a $34.00 price objective on shares of Nutanix in a research note on Thursday, September 7th. Robert W. Baird reissued a buy rating and issued a $28.00 price objective on shares of Nutanix in a research note on Friday, September 1st. Maxim Group reissued a buy rating and issued a $41.00 price objective on shares of Nutanix in a research note on Friday, September 1st. KeyCorp reissued a buy rating and issued a $32.00 price objective on shares of Nutanix in a research note on Friday, September 1st. Finally, Piper Jaffray Companies reissued a buy rating and issued a $28.00 price objective (up previously from $27.00) on shares of Nutanix in a research note on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Nutanix has an average rating of Buy and a consensus price target of $33.93.

Shares of Nutanix (NASDAQ NTNX) opened at $34.04 on Friday. Nutanix has a 12 month low of $14.38 and a 12 month high of $38.28.

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

In other news, President Sudheesh Nair Vadakkedath sold 75,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $21.88, for a total transaction of $1,641,000.00. Following the sale, the president now directly owns 110,519 shares of the company’s stock, valued at $2,418,155.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sunil Potti sold 10,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $21.56, for a total value of $215,600.00. Following the sale, the insider now directly owns 113,603 shares in the company, valued at $2,449,280.68. The disclosure for this sale can be found here. Insiders have sold 1,791,869 shares of company stock worth $50,409,588 over the last ninety days. 19.81% of the stock is owned by insiders.

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