Nutanix (NTNX) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Nutanix (NASDAQ:NTNX) from a hold rating to a buy rating in a research report released on Wednesday morning. They currently have $38.00 target price on the technology company’s stock.

According to Zacks, “Nutanix, Inc. provides an enterprise cloud platform which converges silos of server, virtualization and storage into integrated solution and connects to public cloud services. Nutanix, Inc. is based in San Jose, United States. “

Several other analysts have also recently weighed in on NTNX. Raymond James Financial set a $37.00 price target on shares of Nutanix and gave the company a buy rating in a research note on Monday. Needham & Company LLC increased their target price on shares of Nutanix from $45.00 to $48.00 and gave the stock a buy rating in a report on Friday, December 1st. Morgan Stanley increased their target price on shares of Nutanix from $22.00 to $35.00 and gave the stock a hold rating in a report on Friday, December 1st. Piper Jaffray Companies reiterated a buy rating and set a $40.00 target price on shares of Nutanix in a report on Friday, December 1st. Finally, Maxim Group increased their target price on shares of Nutanix from $39.00 to $51.00 and gave the stock a buy rating in a report on Friday, December 1st. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $34.71.

Nutanix (NASDAQ NTNX) traded up $1.20 during trading hours on Wednesday, reaching $35.30. 3,107,500 shares of the company’s stock traded hands, compared to its average volume of 3,163,275. Nutanix has a one year low of $14.38 and a one year high of $38.28.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Thursday, November 30th. The technology company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. The business had revenue of $275.60 million during the quarter, compared to the consensus estimate of $267.02 million. Nutanix had a negative net margin of 40.81% and a negative return on equity of 363.55%. The company’s revenue was up 46.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.37) earnings per share. equities research analysts anticipate that Nutanix will post -1.98 EPS for the current year.

In other news, VP Kenneth W. Long III sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $34.00, for a total value of $1,020,000.00. Following the completion of the transaction, the vice president now owns 213,032 shares of the company’s stock, valued at $7,243,088. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, President Sudheesh Nair Vadakkedath sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $21.39, for a total transaction of $1,069,500.00. Following the completion of the transaction, the president now directly owns 310,519 shares of the company’s stock, valued at approximately $6,642,001.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,791,869 shares of company stock valued at $50,409,588. 19.81% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Thompson Davis & CO. Inc. grew its holdings in Nutanix by 320.0% in the third quarter. Thompson Davis & CO. Inc. now owns 5,250 shares of the technology company’s stock valued at $118,000 after purchasing an additional 4,000 shares during the period. Legal & General Group Plc boosted its stake in Nutanix by 3,147.6% during the second quarter. Legal & General Group Plc now owns 8,801 shares of the technology company’s stock worth $175,000 after buying an additional 8,530 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Nutanix during the second quarter worth $186,000. Stifel Financial Corp acquired a new stake in Nutanix during the third quarter worth $215,000. Finally, First Allied Advisory Services Inc. acquired a new stake in Nutanix during the third quarter worth $215,000. Hedge funds and other institutional investors own 35.35% of the company’s stock.

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About Nutanix

Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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