Piper Jaffray Companies Reiterates Buy Rating for Nutanix (NTNX)
Piper Jaffray Companies reissued their buy rating on shares of Nutanix (NASDAQ:NTNX) in a research note published on Friday. Piper Jaffray Companies currently has a $40.00 target price on the technology company’s stock.
A number of other equities analysts have also issued reports on NTNX. Stifel Nicolaus set a $25.00 price target on shares of Nutanix and gave the stock a hold rating in a research report on Tuesday, August 15th. Jefferies Group started coverage on shares of Nutanix in a research report on Thursday, August 17th. They set a buy rating and a $30.00 price target for the company. William Blair reissued a buy rating on shares of Nutanix in a research report on Thursday, August 31st. Bank of America reissued a buy rating and set a $27.00 price target on shares of Nutanix in a research report on Thursday, August 31st. Finally, KeyCorp reissued a buy rating and set a $32.00 price target on shares of Nutanix in a research report on Friday, September 1st. Two analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $33.93.
Nutanix (NASDAQ:NTNX) opened at $34.04 on Friday. Nutanix has a 1 year low of $14.38 and a 1 year high of $38.28.
Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Thursday, November 30th. The technology company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.10. The firm had revenue of $275.60 million during the quarter, compared to analyst estimates of $267.02 million. Nutanix had a negative net margin of 40.81% and a negative return on equity of 363.55%. Nutanix’s revenue was up 46.1% on a year-over-year basis. During the same period last year, the firm posted ($0.37) EPS. equities research analysts forecast that Nutanix will post -2.19 earnings per share for the current fiscal year.
In related news, President Sudheesh Nair Vadakkedath sold 50,000 shares of Nutanix stock in a transaction on Monday, November 27th. The shares were sold at an average price of $34.07, for a total value of $1,703,500.00. Following the sale, the president now owns 228,330 shares of the company’s stock, valued at approximately $7,779,203.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Sangster sold 5,891 shares of Nutanix stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $22.39, for a total transaction of $131,899.49. Following the completion of the sale, the executive vice president now directly owns 89,000 shares in the company, valued at approximately $1,992,710. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,791,869 shares of company stock valued at $50,409,588. Insiders own 19.81% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC acquired a new stake in Nutanix in the 3rd quarter valued at $453,000. Janney Montgomery Scott LLC acquired a new stake in Nutanix in the 3rd quarter valued at $441,000. Cubist Systematic Strategies LLC acquired a new stake in Nutanix in the 3rd quarter valued at $1,117,000. Granahan Investment Management Inc. MA grew its stake in Nutanix by 24.5% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 126,645 shares of the technology company’s stock valued at $2,836,000 after acquiring an additional 24,907 shares during the period. Finally, First Allied Advisory Services Inc. acquired a new stake in Nutanix in the 3rd quarter valued at $215,000. 35.35% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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