Nutanix (NTNX) Price Target Cut to $48.00

Nutanix (NASDAQ:NTNX) had its price target decreased by Jefferies Financial Group to $48.00 in a report issued on Wednesday, The Fly reports. Jefferies Financial Group currently has a hold rating on the technology company’s stock.

Several other brokerages have also weighed in on NTNX. Zacks Investment Research lowered shares of Nutanix from a hold rating to a sell rating in a report on Friday, August 24th. Morgan Stanley increased their price objective on shares of Nutanix from $55.00 to $57.00 and gave the stock an equal weight rating in a report on Friday, August 31st. Raymond James cut their price objective on shares of Nutanix from $74.00 to $71.00 and set a buy rating on the stock in a report on Tuesday, September 25th. Needham & Company LLC increased their price objective on shares of Nutanix from $65.00 to $71.00 and gave the stock a buy rating in a report on Friday, August 31st. Finally, UBS Group lowered shares of Nutanix to a neutral rating in a report on Monday, September 24th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $58.65.

Shares of NTNX stock opened at $44.71 on Wednesday. The stock has a market cap of $7.58 billion, a PE ratio of -26.46 and a beta of 0.65. Nutanix has a 1-year low of $29.34 and a 1-year high of $64.87. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.76 and a current ratio of 2.76.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Tuesday, November 27th. The technology company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.24). The company had revenue of $313.28 million for the quarter, compared to analysts’ expectations of $305.21 million. Nutanix had a negative return on equity of 94.01% and a negative net margin of 27.65%. The company’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. Analysts forecast that Nutanix will post -2.18 earnings per share for the current fiscal year.

In related news, EVP David Sangster sold 7,916 shares of the firm’s stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $42.56, for a total value of $336,904.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Mcadam sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $51.46, for a total transaction of $771,900.00. Following the completion of the transaction, the director now owns 84,648 shares in the company, valued at approximately $4,355,986.08. The disclosure for this sale can be found here. Insiders sold 47,120 shares of company stock worth $2,311,629 in the last 90 days. 14.57% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NTNX. Principal Financial Group Inc. raised its stake in shares of Nutanix by 66.1% during the first quarter. Principal Financial Group Inc. now owns 11,224 shares of the technology company’s stock valued at $551,000 after purchasing an additional 4,468 shares during the period. Bank of Montreal Can raised its stake in shares of Nutanix by 22.5% during the second quarter. Bank of Montreal Can now owns 62,012 shares of the technology company’s stock valued at $3,198,000 after purchasing an additional 11,392 shares during the period. Cornerstone Wealth Management LLC purchased a new stake in shares of Nutanix during the second quarter valued at approximately $260,000. Janney Montgomery Scott LLC raised its stake in shares of Nutanix by 5.7% during the second quarter. Janney Montgomery Scott LLC now owns 24,851 shares of the technology company’s stock valued at $1,282,000 after purchasing an additional 1,330 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of Nutanix by 7.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,310 shares of the technology company’s stock valued at $738,000 after purchasing an additional 1,044 shares during the period. Institutional investors own 49.69% of the company’s stock.

Nutanix Company Profile

Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.

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