Nutanix (NASDAQ:NTNX) Stock Rated “Moderate Buy” by Sell-Side Brokerages

Nutanix (NASDAQ:NTNX) has been assigned a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the company, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $72.71.

Several analysts have recently commented on the stock. Northland Securities set a $70.00 target price on shares of Nutanix in a report on Thursday, August 27th. Morgan Stanley increased their price objective on shares of Nutanix from $55.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, August 27th. The Goldman Sachs Group restated a “buy” rating on shares of Nutanix in a research note on Thursday, May 28th. Wells Fargo & Company upped their target price on Nutanix from $55.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, August 27th. Finally, Oppenheimer increased their price target on Nutanix from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, August 27th.

Insider Activity at Nutanix

In other news, CFO Rukmini Sivaraman sold 38,139 shares of Nutanix stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $70.00, for a total transaction of $2,669,730.00. Following the sale, the chief financial officer directly owned 325,487 shares in the company, valued at $22,784,090. The trade was a 10.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 2.40% of the stock is owned by insiders.

Institutional Trading of Nutanix

A number of large investors have recently added to or reduced their stakes in the stock. CX Institutional increased its stake in shares of Nutanix by 134.6% during the 2nd quarter. CX Institutional now owns 488 shares of the technology company’s stock worth $25,000 after purchasing an additional 280 shares during the last quarter. Western Wealth Management LLC purchased a new position in Nutanix in the first quarter valued at approximately $27,000. Parkside Financial Bank & Trust lifted its stake in Nutanix by 43.8% in the second quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company’s stock valued at $29,000 after purchasing an additional 176 shares during the last quarter. Harbour Investments Inc. grew its holdings in Nutanix by 159.4% during the fourth quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after purchasing an additional 502 shares during the period. Finally, Frazier Financial Advisors LLC grew its holdings in Nutanix by 1,063.8% during the first quarter. Frazier Financial Advisors LLC now owns 1,094 shares of the technology company’s stock valued at $42,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Nutanix Stock Down 1.6%

NTNX stock opened at $68.59 on Friday. The firm has a market capitalization of $18.54 billion, a PE ratio of 13.29, a P/E/G ratio of 3.93 and a beta of 0.62. The company has a quick ratio of 1.78, a current ratio of 1.80 and a debt-to-equity ratio of 1.92. Nutanix has a twelve month low of $34.01 and a twelve month high of $78.45. The stock’s 50 day moving average is $64.31 and its 200-day moving average is $51.99.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 26th. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.11. Nutanix had a negative return on equity of 90.13% and a net margin of 52.81%.The business had revenue of $757.08 million during the quarter, compared to the consensus estimate of $738.27 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. Nutanix’s revenue was up 15.9% compared to the same quarter last year. Sell-side analysts expect that Nutanix will post 1.03 EPS for the current fiscal year.

Nutanix Company Profile

Nutanix, Inc is a cloud computing software company that provides infrastructure and management solutions for enterprise data centers, private clouds, public clouds and hybrid multicloud environments. Its platform is designed to simplify the deployment, operation and management of applications and workloads across on-premises infrastructure and multiple cloud providers.

The company’s offerings include the Nutanix Cloud Infrastructure platform, which combines compute, storage and virtualization capabilities; the Nutanix Cloud Manager suite for monitoring, automation, governance and cost management; and Nutanix Unified Storage.