Nutanix (NASDAQ:NTNX) Earns Buy Rating from Needham & Company LLC

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Needham & Company LLC reaffirmed their buy rating on shares of Nutanix (NASDAQ:NTNX) in a research note released on Wednesday, September 19th. The brokerage currently has a $71.00 target price on the technology company’s stock.

Several other brokerages have also issued reports on NTNX. KeyCorp upped their target price on shares of Nutanix from $64.00 to $68.00 and gave the stock an overweight rating in a research report on Friday, June 22nd. Zacks Investment Research lowered shares of Nutanix from a hold rating to a sell rating in a research report on Saturday, June 2nd. Royal Bank of Canada upped their price target on shares of Nutanix to $70.00 and gave the company an outperform rating in a research report on Wednesday, June 13th. Morgan Stanley upped their price target on shares of Nutanix from $52.00 to $55.00 and gave the company an equal weight rating in a research report on Friday, May 25th. Finally, Wells Fargo & Co upped their price target on shares of Nutanix from $65.00 to $70.00 and gave the company an outperform rating in a research report on Monday, June 25th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the stock. Nutanix has a consensus rating of Buy and a consensus target price of $57.55.

Shares of Nutanix stock traded up $2.87 during trading on Wednesday, hitting $41.46. The stock had a trading volume of 3,218,893 shares, compared to its average volume of 3,653,003. Nutanix has a 12 month low of $25.50 and a 12 month high of $64.87. The stock has a market cap of $7.39 billion, a P/E ratio of -24.53 and a beta of 0.69. The company has a debt-to-equity ratio of 1.31, a quick ratio of 2.76 and a current ratio of 2.76.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Thursday, August 30th. The technology company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.48) by $0.37. Nutanix had a negative net margin of 25.72% and a negative return on equity of 92.86%. The company had revenue of $303.75 million during the quarter, compared to analyst estimates of $298.30 million. Sell-side analysts predict that Nutanix will post -2.18 earnings per share for the current year.

In related news, EVP David Sangster sold 7,916 shares of the stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $55.75, for a total value of $441,317.00. Following the completion of the transaction, the executive vice president now directly owns 7,916 shares of the company’s stock, valued at $441,317. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Mcadam sold 15,000 shares of the stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $51.46, for a total transaction of $771,900.00. Following the completion of the transaction, the director now directly owns 84,648 shares of the company’s stock, valued at $4,355,986.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,204 shares of company stock valued at $1,974,724. Insiders own 19.81% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. CAPROCK Group Inc. raised its stake in Nutanix by 13.1% in the second quarter. CAPROCK Group Inc. now owns 7,925 shares of the technology company’s stock worth $409,000 after buying an additional 920 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Nutanix by 14.1% during the second quarter. IFP Advisors Inc now owns 8,146 shares of the technology company’s stock valued at $420,000 after purchasing an additional 1,004 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Nutanix by 7.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 14,310 shares of the technology company’s stock valued at $738,000 after purchasing an additional 1,044 shares in the last quarter. Viridian Ria LLC increased its stake in shares of Nutanix by 6.1% during the second quarter. Viridian Ria LLC now owns 19,885 shares of the technology company’s stock valued at $1,026,000 after purchasing an additional 1,151 shares in the last quarter. Finally, First Midwest Bank Trust Division increased its stake in shares of Nutanix by 13.2% during the second quarter. First Midwest Bank Trust Division now owns 10,383 shares of the technology company’s stock valued at $535,000 after purchasing an additional 1,207 shares in the last quarter. 49.44% of the stock is owned by institutional investors.

About Nutanix

Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.

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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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