Nutanix (NASDAQ:NTNX) Earns Buy Rating from Northland Securities

Nutanix (NASDAQ:NTNX)‘s stock had its “buy” rating restated by research analysts at Northland Securities in a research note issued on Tuesday, AnalystRatings.com reports.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada raised their price target on Nutanix from $29.00 to $34.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 24th. Piper Sandler lifted their target price on Nutanix from $26.00 to $30.00 and gave the company a “neutral” rating in a research report on Tuesday, November 24th. JPMorgan Chase & Co. lifted their target price on Nutanix from $22.00 to $25.00 and gave the company a “neutral” rating in a research report on Tuesday, November 24th. Wells Fargo & Company lifted their target price on Nutanix from $27.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 24th. Finally, Oppenheimer upgraded Nutanix from a “market perform” rating to an “outperform” rating in a research report on Monday, December 14th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $33.20.

NTNX stock opened at $33.16 on Tuesday. The company has a market cap of $6.68 billion, a P/E ratio of -7.21 and a beta of 1.97. Nutanix has a 1 year low of $11.31 and a 1 year high of $37.35. The stock’s fifty day moving average price is $32.45 and its 200-day moving average price is $27.51.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Sunday, November 22nd. The technology company reported ($0.44) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.57) by $0.13. The firm had revenue of $312.75 million for the quarter, compared to the consensus estimate of $298.52 million. Nutanix had a negative return on equity of 1,175,319.00% and a negative net margin of 69.59%. Sell-side analysts expect that Nutanix will post -3.9 earnings per share for the current year.

In other news, CFO Duston Williams sold 31,277 shares of Nutanix stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $31.73, for a total value of $992,419.21. Following the sale, the chief financial officer now directly owns 251,117 shares of the company’s stock, valued at $7,967,942.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tyler Wall sold 14,889 shares of Nutanix stock in a transaction dated Wednesday, December 16th. The stock was sold at an average price of $31.73, for a total value of $472,427.97. Following the completion of the sale, the insider now directly owns 89,398 shares in the company, valued at $2,836,598.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,380 shares of company stock worth $2,567,785. Insiders own 6.66% of the company’s stock.

Hedge funds have recently modified their holdings of the company. LPL Financial LLC boosted its position in shares of Nutanix by 0.4% during the fourth quarter. LPL Financial LLC now owns 92,972 shares of the technology company’s stock valued at $2,963,000 after buying an additional 397 shares during the period. CWM LLC boosted its position in shares of Nutanix by 56.3% during the third quarter. CWM LLC now owns 1,460 shares of the technology company’s stock valued at $32,000 after buying an additional 526 shares during the period. Cerity Partners LLC boosted its position in shares of Nutanix by 3.5% during the third quarter. Cerity Partners LLC now owns 16,234 shares of the technology company’s stock valued at $360,000 after buying an additional 554 shares during the period. Xponance Inc. boosted its position in shares of Nutanix by 3.2% during the fourth quarter. Xponance Inc. now owns 19,726 shares of the technology company’s stock valued at $629,000 after buying an additional 615 shares during the period. Finally, Accel Wealth Management purchased a new position in shares of Nutanix during the fourth quarter valued at approximately $26,000. 66.96% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Company Profile

Nutanix, Inc develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers Acropolis, an enterprise cloud platform that converges virtualization, enterprise storage services, and networking services; Nutanix Prism, a consumer-grade control plane, which provides management and analytics; and Acropolis Hypervisor, an enterprise-grade virtualization solution.

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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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