Oppenheimer Reiterates “Buy” Rating for Nutanix (NTNX)

Nutanix (NASDAQ:NTNX)‘s stock had its “buy” rating restated by analysts at Oppenheimer in a research note issued on Tuesday. They presently have a $43.00 price objective on the technology company’s stock. Oppenheimer’s price target would suggest a potential upside of 13.64% from the stock’s previous close.

NTNX has been the subject of a number of other reports. Vetr upgraded Nutanix from a “hold” rating to a “strong-buy” rating and set a $30.51 price target for the company in a research note on Monday, October 16th. Morgan Stanley restated an “equal weight” rating and set a $22.00 price target on shares of Nutanix in a research note on Sunday, October 1st. ValuEngine cut Nutanix from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Bank of America lifted their price objective on Nutanix from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Finally, Maxim Group reaffirmed a “buy” rating and set a $51.00 price objective on shares of Nutanix in a research report on Friday, December 22nd. Two investment 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 stock. The company presently has an average rating of “Buy” and a consensus price target of $35.30.

Nutanix (NTNX) traded down $0.11 during trading on Tuesday, hitting $37.84. The company’s stock had a trading volume of 1,919,500 shares, compared to its average volume of 4,230,000. The company has a market cap of $6,070.00 and a P/E ratio of -15.64. Nutanix has a 1-year low of $14.38 and a 1-year high of $38.80.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Thursday, November 30th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.10. The business had revenue of $275.60 million during the quarter, compared to the consensus estimate of $267.02 million. Nutanix had a negative return on equity of 113.75% and a negative net margin of 22.31%. The business’s quarterly revenue was up 46.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.37) EPS. sell-side analysts expect that Nutanix will post -1.71 earnings per share for the current fiscal year.

In related news, President Sudheesh Nair Vadakkedath sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $36.87, for a total value of $1,474,800.00. Following the transaction, the president now directly owns 193,856 shares of the company’s stock, valued at approximately $7,147,470.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Sangster sold 5,892 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $36.32, for a total value of $213,997.44. Following the completion of the transaction, the executive vice president now directly owns 12,500 shares in the company, valued at $454,000. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,219,670 shares of company stock worth $71,006,839. 19.81% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of NTNX. Schwab Charles Investment Management Inc. raised its holdings in shares of Nutanix by 144.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 99,539 shares of the technology company’s stock worth $2,006,000 after acquiring an additional 58,856 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Nutanix by 209.2% during the 2nd quarter. Rhumbline Advisers now owns 38,547 shares of the technology company’s stock worth $777,000 after acquiring an additional 26,080 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Nutanix during the 2nd quarter worth approximately $186,000. Bank of New York Mellon Corp raised its holdings in shares of Nutanix by 183.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 120,939 shares of the technology company’s stock worth $2,437,000 after acquiring an additional 78,221 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Nutanix by 3,147.6% during 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. 34.13% of the stock is currently owned by institutional investors and hedge funds.

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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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