Raymond James Increases Nutanix (NASDAQ:NTNX) Price Target to $85.00

Nutanix (NASDAQ:NTNX) had its target price hoisted by analysts at Raymond James from $76.00 to $85.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Raymond James’ price target would suggest a potential upside of 34.51% from the company’s current price.

A number of other equities research analysts have also recently issued reports on NTNX. Northland Securities cut shares of Nutanix from an “outperform” rating to a “market perform” rating and set a $71.00 price target for the company. in a report on Thursday, May 30th. Royal Bank of Canada upped their price target on shares of Nutanix from $72.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, May 29th. Northland Capmk cut shares of Nutanix from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 30th. KeyCorp upped their price target on shares of Nutanix from $69.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Morgan Stanley decreased their price target on shares of Nutanix from $72.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $73.31.

Nutanix Trading Up 0.4 %

Shares of NASDAQ:NTNX opened at $63.19 on Thursday. The stock has a market capitalization of $15.59 billion, a PE ratio of -902.71, a P/E/G ratio of 4.45 and a beta of 1.16. Nutanix has a 1 year low of $30.26 and a 1 year high of $73.69. The firm has a fifty day moving average price of $52.87 and a 200 day moving average price of $58.73.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.12. Nutanix had a negative net margin of 0.57% and a negative return on equity of 7.74%. The firm had revenue of $524.58 million during the quarter, compared to analysts’ expectations of $516.13 million. On average, sell-side analysts forecast that Nutanix will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO David Sangster sold 10,384 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $54.19, for a total value of $562,708.96. Following the completion of the transaction, the chief operating officer now owns 64,333 shares of the company’s stock, valued at $3,486,205.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Rukmini Sivaraman sold 12,566 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $53.22, for a total transaction of $668,762.52. Following the completion of the sale, the chief financial officer now owns 144,902 shares of the company’s stock, valued at $7,711,684.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO David Sangster sold 10,384 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $54.19, for a total transaction of $562,708.96. Following the sale, the chief operating officer now directly owns 64,333 shares of the company’s stock, valued at approximately $3,486,205.27. The disclosure for this sale can be found here. Insiders sold 46,936 shares of company stock valued at $2,531,273 over the last quarter. Corporate insiders own 0.46% of the company’s stock.

Institutional Trading of Nutanix

Hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Nutanix during the second quarter worth approximately $25,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Nutanix during the fourth quarter worth approximately $29,000. GAMMA Investing LLC acquired a new stake in shares of Nutanix during the fourth quarter worth approximately $30,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Nutanix during the second quarter worth approximately $32,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Nutanix during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

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.