Nutanix (NASDAQ:NTNX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Nutanix (NASDAQ:NTNX) had its price target lifted by Morgan Stanley from $72.00 to $78.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other equities research analysts also recently issued reports on NTNX. Needham & Company LLC upped their price target on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays boosted their price target on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday. Raymond James increased their price objective on shares of Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Northland Securities reaffirmed a “market perform” rating and issued a $77.00 target price (up from $74.00) on shares of Nutanix in a report on Wednesday. Finally, Royal Bank of Canada boosted their price objective on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Three 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Trading Down 2.1 %

Shares of NTNX stock opened at $65.28 on Wednesday. The firm has a fifty day simple moving average of $64.88 and a two-hundred day simple moving average of $59.40. Nutanix has a 12 month low of $42.22 and a 12 month high of $75.80. The firm 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 (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $547.95 million for the quarter, compared to analysts’ expectations of $537.12 million. Nutanix had a negative net margin of 3.54% and a negative return on equity of 12.43%. On average, equities analysts predict that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Nutanix

In other Nutanix news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at $7,411,022.44. The trade was a 8.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total value of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC grew its stake in Nutanix by 4.0% during the third quarter. Tidal Investments LLC now owns 22,297 shares of the technology company’s stock valued at $1,321,000 after acquiring an additional 862 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Nutanix in the third quarter worth $111,000. Sanctuary Advisors LLC bought a new stake in Nutanix during the third quarter valued at $555,000. Geode Capital Management LLC grew its position in Nutanix by 0.5% during the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock worth $245,968,000 after buying an additional 22,091 shares in the last quarter. Finally, Groupama Asset Managment increased its stake in Nutanix by 1.0% in the 3rd quarter. Groupama Asset Managment now owns 707,000 shares of the technology company’s stock worth $41,890,000 after acquiring an additional 7,000 shares during the last quarter. 85.25% of the stock is owned by hedge funds and other 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.