Nutanix (NASDAQ:NTNX)‘s stock had its “buy” rating restated by analysts at Maxim Group in a note issued to investors on Friday. They presently have a $51.00 price objective on the technology company’s stock. Maxim Group’s price objective would suggest a potential upside of 46.38% from the stock’s previous close.
The analysts wrote, “Gross profit (GP) growth is the best way to normalize for software transition, which notably has been guided to accelerate in the January quarter. Value of NTNX offerings highlighted by durability of relationships utilizing DELL (private) hardware. NTNX’s India R&D effort is a source of underappreciated R&D leverage and future TAM expansion, in our view. Reiterating Buy rating & 12-month price target of $51.””
Other research analysts also recently issued research reports about the stock. Bank of America boosted their target price on shares of Nutanix from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Zacks Investment Research upgraded shares of Nutanix from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Friday, September 8th. Oppenheimer reiterated a “buy” rating and set a $34.00 target price on shares of Nutanix in a research report on Thursday, September 7th. KeyCorp reiterated a “buy” rating and set a $32.00 target price on shares of Nutanix in a research report on Friday, September 1st. Finally, Piper Jaffray Companies reiterated a “buy” rating and set a $28.00 target price (up previously from $27.00) on shares of Nutanix in a research report on Thursday, August 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating, seventeen have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $34.74.
Nutanix (NASDAQ:NTNX) last posted its quarterly earnings data on Thursday, November 30th. The technology company reported ($0.16) 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 271.31%. The company had revenue of $275.60 million for the quarter, compared to analyst estimates of $267.02 million. During the same period in the prior year, the firm posted ($0.37) EPS. The company’s quarterly revenue was up 46.1% on a year-over-year basis. equities analysts predict that Nutanix will post -1.73 EPS for the current year.
In other news, VP Kenneth W. Long III sold 30,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $29.11, for a total value of $873,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dheeraj Pandey sold 71,400 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $35.33, for a total transaction of $2,522,562.00. Following the completion of the sale, the chief executive officer now owns 288,612 shares of the company’s stock, valued at approximately $10,196,661.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,321,670 shares of company stock worth $71,808,059. Corporate insiders own 19.81% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NTNX. Thompson Davis & CO. Inc. grew its stake in shares of Nutanix by 320.0% in the 3rd quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock worth $118,000 after acquiring an additional 4,000 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Nutanix by 3,147.6% in the 2nd quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after acquiring an additional 8,530 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Nutanix in the 2nd quarter worth $186,000. PNC Financial Services Group Inc. bought a new stake in shares of Nutanix in the 2nd quarter worth $208,000. Finally, Stifel Financial Corp bought a new position in Nutanix during the third quarter valued at about $215,000. Hedge funds and other institutional investors own 35.33% of the company’s stock.
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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