Needham & Company LLC reissued their buy rating on shares of Nutanix (NASDAQ:NTNX) in a research report report published on Wednesday, September 19th. They currently have a $71.00 target price on the technology company’s stock.

Several other research analysts have also issued reports on the company. Robert W. Baird reaffirmed a buy rating and set a $64.00 target price on shares of Nutanix in a research report on Friday, May 25th. Morgan Stanley upped their target price on Nutanix from $55.00 to $57.00 and gave the company an equal weight rating in a research report on Friday, August 31st. KeyCorp upped their target price on Nutanix from $64.00 to $68.00 and gave the company an overweight rating in a research report on Friday, June 22nd. Zacks Investment Research lowered Nutanix from a hold rating to a sell rating in a research report on Saturday, June 2nd. Finally, FBN Securities increased their price objective on Nutanix from $60.00 to $65.00 and gave the company an outperform rating in a report on Tuesday, May 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $57.55.

Shares of NTNX stock traded up $2.87 during mid-day 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 capitalization of $7.39 billion, a price-to-earnings ratio of -24.53 and a beta of 0.69. The company has a current ratio of 2.76, a quick ratio of 2.76 and a debt-to-equity ratio of 1.31.

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

In other Nutanix news, EVP David Sangster sold 7,917 shares of the stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $43.52, for a total transaction of $344,547.84. Following the transaction, the executive vice president now owns 7,917 shares in the company, valued at $344,547.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Mcadam sold 15,000 shares of the stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $51.46, for a total value of $771,900.00. Following the transaction, the director now owns 84,648 shares in the company, valued at approximately $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 worth $1,974,724. 19.81% of the stock is owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new position in shares of Nutanix in the second quarter valued at approximately $174,000. Cerebellum GP LLC purchased a new position in shares of Nutanix in the third quarter valued at approximately $188,000. Aperio Group LLC purchased a new position in shares of Nutanix in the first quarter valued at approximately $205,000. AMP Capital Investors Ltd purchased a new position in shares of Nutanix in the second quarter valued at approximately $232,000. Finally, Cornerstone Wealth Management LLC purchased a new position in shares of Nutanix in the second quarter valued at approximately $260,000. Institutional investors own 49.44% of the company’s stock.

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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