Nutanix (NASDAQ:NTNX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Nutanix (NASDAQ:NTNX) had its target price raised by Needham & Company LLC from $80.00 to $90.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

NTNX has been the topic of several other reports. Bank of America raised their price target on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Barclays raised their price target on shares of Nutanix from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Royal Bank of Canada raised their price target on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler raised their price target on shares of Nutanix from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Oppenheimer began coverage on shares of Nutanix in a research report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.86.

Nutanix Price Performance

Shares of NTNX opened at $65.28 on Wednesday. The company has a market capitalization of $17.31 billion, a PE ratio of -186.51, a price-to-earnings-growth ratio of 11.04 and a beta of 1.17. Nutanix has a one year low of $42.22 and a one year high of $75.80. The company’s fifty day moving average price is $64.88 and its 200 day moving average price is $59.45.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.02. The firm had revenue of $547.95 million for the quarter, compared to the consensus estimate of $537.12 million. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.43%. Analysts anticipate that Nutanix will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the completion of the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at $7,411,022.44. The trade was a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the sale, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This trade represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers raised its stake in shares of Nutanix by 48.7% during the first quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock worth $4,697,000 after buying an additional 24,918 shares during the last quarter. Diversified Trust Co grew its holdings in Nutanix by 46.7% during the second quarter. Diversified Trust Co now owns 36,666 shares of the technology company’s stock valued at $2,084,000 after purchasing an additional 11,668 shares during the period. Versor Investments LP grew its holdings in Nutanix by 211.7% during the third quarter. Versor Investments LP now owns 33,352 shares of the technology company’s stock valued at $1,976,000 after purchasing an additional 22,652 shares during the period. Marshall Wace LLP grew its holdings in Nutanix by 47.5% during the second quarter. Marshall Wace LLP now owns 1,482,989 shares of the technology company’s stock valued at $84,308,000 after purchasing an additional 477,838 shares during the period. Finally, Resolute Capital Asset Partners LLC acquired a new position in Nutanix during the second quarter valued at approximately $2,274,000. 85.25% of the stock is owned by institutional investors.

Nutanix Company Profile

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers hyperconverged infrastructure software stack that converges virtualization, storage, and networking services into a turnkey solution; Acropolis Hypervisor, an enterprise-grade virtualization solution; flow virtual networking and flow network security, which offers services to visualize the network, automate common network operations, and build virtual private networks; Nutanix Kubernetes Engine for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments, applications, and microservices; and Nutanix Cloud Clusters.