Nutanix (NASDAQ:NTNX) Stock Has Average Target Price of $73.07

Nutanix (NASDAQ:NTNX) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen ratings firms that are presently covering the stock, Marketbeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $73.07.

A number of equities research analysts have recently issued reports on NTNX shares. Wells Fargo & Company upped their price objective on shares of Nutanix from $55.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. Morgan Stanley increased their target price on shares of Nutanix from $55.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, August 27th. Northland Securities set a $70.00 target price on shares of Nutanix in a research report on Thursday, August 27th. UBS Group set a $85.00 price target on shares of Nutanix in a research note on Thursday, August 27th. Finally, Wall Street Zen raised shares of Nutanix from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th.

Insider Activity

In other news, Director Teresa Sheppard sold 3,500 shares of Nutanix stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $73.67, for a total value of $257,845.00. Following the transaction, the director owned 23,488 shares in the company, valued at approximately $1,730,360.96. The trade was a 12.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rajiv Ramaswami sold 324,955 shares of Nutanix stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $73.57, for a total value of $23,906,939.35. Following the completion of the transaction, the chief executive officer owned 489,384 shares in the company, valued at approximately $36,003,980.88. This represents a 39.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 674,351 shares of company stock valued at $49,736,524. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nutanix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Cordatus Wealth Management LLC purchased a new position in Nutanix in the 3rd quarter worth approximately $356,000. V Square Quantitative Management LLC boosted its stake in shares of Nutanix by 41.7% during the third quarter. V Square Quantitative Management LLC now owns 876 shares of the technology company’s stock valued at $62,000 after purchasing an additional 258 shares during the period. Curated Wealth Partners LLC purchased a new stake in shares of Nutanix during the third quarter valued at approximately $735,000. Perpetual Ltd grew its holdings in shares of Nutanix by 11.2% in the third quarter. Perpetual Ltd now owns 7,340 shares of the technology company’s stock worth $517,000 after purchasing an additional 739 shares during the last quarter. Finally, Gallagher Capital Advisors LLC bought a new position in shares of Nutanix in the third quarter worth approximately $2,175,000. 85.25% of the stock is currently owned by institutional investors.

Nutanix Price Performance

NTNX opened at $67.53 on Tuesday. The stock has a 50-day moving average price of $68.72 and a 200-day moving average price of $55.79. Nutanix has a 12-month low of $34.01 and a 12-month high of $75.98. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 1.92. The stock has a market capitalization of $18.27 billion, a P/E ratio of 13.09, a PEG ratio of 3.32 and a beta of 0.64.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%. The company had revenue of $757.08 million for the quarter, compared to analysts’ expectations of $738.27 million. During the same period last year, the firm posted $0.37 EPS. Nutanix’s revenue for the quarter was up 15.9% compared to the same quarter last year. Equities analysts predict that Nutanix will post 1.17 earnings per share for the current fiscal year.

Nutanix Company Profile

Nutanix, Inc is a cloud computing and enterprise software company that provides infrastructure and platform services for running applications across private, hybrid and multicloud environments. Its products are designed to simplify the management of data centers and cloud resources by combining computing, storage, virtualization, networking and data services within a unified software platform.

The company’s offerings include the Nutanix Cloud Platform, which supports enterprise applications and workloads across on-premises infrastructure and public clouds.