Nutanix (NASDAQ:NTNX) Price Target Increased to $71.00 by Analysts at Needham & Company LLC

Nutanix (NASDAQ:NTNX) had its price objective lifted by Needham & Company LLC from $64.00 to $71.00 in a research report sent to investors on Wednesday, The Fly reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

NTNX has been the subject of a number of other research reports. Piper Sandler boosted their price target on Nutanix from $45.00 to $47.00 and gave the stock an overweight rating in a report on Thursday, September 2nd. Northland Securities increased their price target on Nutanix from $52.00 to $58.00 and gave the stock an outperform rating in a report on Thursday, September 2nd. Morgan Stanley restated a hold rating and issued a $41.00 target price on shares of Nutanix in a report on Friday, August 27th. OTR Global raised Nutanix from a mixed rating to a positive rating in a research report on Thursday, November 18th. Finally, Zacks Investment Research downgraded Nutanix from a buy rating to a hold rating and set a $40.00 price target for the company. in a research report on Monday, August 16th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $46.91.

NASDAQ:NTNX opened at $35.20 on Wednesday. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of -7.03 and a beta of 1.63. Nutanix has a twelve month low of $25.15 and a twelve month high of $44.50. The stock’s 50 day moving average price is $36.49 and its two-hundred day moving average price is $36.12.

Nutanix (NASDAQ:NTNX) last posted its earnings results on Monday, November 22nd. The technology company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.12. The business had revenue of $378.50 million for the quarter, compared to analyst estimates of $367.83 million. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.88) earnings per share. As a group, equities research analysts forecast that Nutanix will post -2.75 EPS for the current year.

In other news, CAO Aaron Boynton sold 3,327 shares of the stock in a transaction that occurred on Thursday, September 16th. The shares were sold at an average price of $41.74, for a total value of $138,868.98. Following the completion of the sale, the chief accounting officer now owns 19,823 shares of the company’s stock, valued at approximately $827,412.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tyler Wall sold 15,282 shares of the firm’s stock in a transaction on Thursday, September 16th. The shares were sold at an average price of $41.74, for a total transaction of $637,870.68. Following the completion of the sale, the insider now owns 115,471 shares in the company, valued at $4,819,759.54. The disclosure for this sale can be found here. Insiders have sold 173,044 shares of company stock valued at $6,792,459 in the last ninety days. Insiders own 0.92% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Cetera Investment Advisers grew its holdings in Nutanix by 367.8% in the third quarter. Cetera Investment Advisers now owns 35,405 shares of the technology company’s stock valued at $1,335,000 after purchasing an additional 27,836 shares during the period. Janus Henderson Group PLC purchased a new position in shares of Nutanix in the third quarter valued at $6,097,000. Chartwell Investment Partners LLC boosted its stake in shares of Nutanix by 21.7% in the third quarter. Chartwell Investment Partners LLC now owns 112,394 shares of the technology company’s stock valued at $4,237,000 after purchasing an additional 20,026 shares during the period. National Asset Management Inc. boosted its stake in shares of Nutanix by 1,028.2% in the third quarter. National Asset Management Inc. now owns 151,782 shares of the technology company’s stock valued at $5,723,000 after purchasing an additional 138,328 shares during the period. Finally, Twinbeech Capital LP acquired a new stake in Nutanix in the third quarter valued at $2,416,000. 72.75% of the stock is owned by institutional investors and hedge funds.

About Nutanix

Nutanix, Inc engages in the provision of enterprise virtualization and storage solutions. It engages in cloud operating system that converges traditional silos of server, virtualization, storage, and networking into one integrated solution and unifies private and public cloud into a single software fabric.

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