“Software and Support billings grow 50% y/y driven by ongoing large enterprise traction due to expanding capabilities, consistent with our .NEXT NYC takeaways. Midpoint guidance implies ~40% y/y Software and Support billings growth, and continued adjusted sales productivity improvements. 2019 should give better insight into NTNX’s transition toward a consumption-based model that may unlock significantly more value. Reiterating Buy rating and 12-month price target of $72.”,” Maxim Group’s analyst wrote.
NTNX has been the subject of several other reports. Piper Jaffray Companies reaffirmed an overweight rating on shares of Nutanix in a report on Monday, August 27th. Jefferies Financial Group downgraded shares of Nutanix from a buy rating to a hold rating and set a $30.00 price objective for the company. in a report on Friday, August 17th. JPMorgan Chase & Co. raised shares of Nutanix from an underweight rating to a neutral rating and raised their price objective for the stock from $39.00 to $54.00 in a report on Thursday, August 30th. Susquehanna Bancshares reaffirmed a negative rating and issued a $33.00 price objective (down from $55.00) on shares of Nutanix in a report on Monday, September 24th. Finally, Raymond James raised their price objective on shares of Nutanix from $64.00 to $74.00 and gave the stock a buy rating in a report on Friday, August 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have issued a buy rating to the stock. Nutanix currently has a consensus rating of Buy and a consensus target price of $58.65.
Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Tuesday, November 27th. The technology company reported ($0.51) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.27) by ($0.24). The business had revenue of $313.28 million during the quarter, compared to the consensus estimate of $305.21 million. Nutanix had a negative return on equity of 94.01% and a negative net margin of 27.65%. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. During the same period last year, the business posted ($0.16) earnings per share. On average, equities analysts expect that Nutanix will post -2.18 earnings per share for the current year.
In other Nutanix news, Director John Mcadam sold 15,000 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $51.46, for a total value of $771,900.00. Following the completion of the transaction, the director now directly owns 84,648 shares of the company’s stock, valued at approximately $4,355,986.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP David Sangster sold 7,916 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $55.75, for a total transaction of $441,317.00. Following the sale, the executive vice president now owns 7,916 shares in the company, valued at approximately $441,317. The disclosure for this sale can be found here. Over the last three months, insiders sold 47,120 shares of company stock valued at $2,311,629. Insiders own 14.57% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Truvestments Capital LLC purchased a new stake in shares of Nutanix during the 3rd quarter valued at $132,000. DekaBank Deutsche Girozentrale raised its position in shares of Nutanix by 320.5% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,565 shares of the technology company’s stock valued at $156,000 after buying an additional 1,955 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Nutanix during the 2nd quarter valued at $174,000. Cerebellum GP LLC purchased a new stake in shares of Nutanix during the 3rd quarter valued at $188,000. Finally, First American Bank purchased a new stake in shares of Nutanix during the 3rd quarter valued at $210,000. Hedge funds and other 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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