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

Nutanix (NASDAQ:NTNX) had its target price raised by equities research analysts at Barclays from $75.00 to $87.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective would indicate a potential upside of 14.41% from the company’s current price.

A number of other research analysts have also recently commented on the company. Oppenheimer started coverage on Nutanix in a report on Wednesday, November 13th. They issued an “outperform” rating and a $80.00 price objective on the stock. Royal Bank of Canada upped their price target on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC raised their price objective on Nutanix from $80.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday. Piper Sandler boosted their price objective on shares of Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Bank of America increased their target price on shares of Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Nutanix currently has an average rating of “Moderate Buy” and an average target price of $75.64.

Nutanix Stock Up 5.1 %

NASDAQ NTNX opened at $76.04 on Wednesday. The business’s fifty day simple moving average is $64.45 and its 200-day simple moving average is $59.35. The firm has a market cap of $20.17 billion, a PE ratio of -146.23, a P/E/G ratio of 12.05 and a beta of 1.17. Nutanix has a 52 week low of $40.44 and a 52 week high of $76.04.

Nutanix (NASDAQ:NTNX) last posted its 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. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The company had revenue of $547.95 million for the quarter, compared to analyst estimates of $537.12 million. Research analysts expect that Nutanix will post 0.31 EPS for the current year.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 11,950 shares of Nutanix stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $59.83, for a total value of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. This trade represents a 8.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 in the company, valued at approximately $11,309,145.65. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Nutanix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Nutanix in the 2nd quarter worth $25,000. ORG Wealth Partners LLC purchased a new position in Nutanix during the third quarter worth about $27,000. Larson Financial Group LLC lifted its position in Nutanix by 122.7% in the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after purchasing an additional 281 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Nutanix in the 2nd quarter valued at approximately $32,000. Finally, Advisors Asset Management Inc. increased its position in Nutanix by 150.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after purchasing an additional 321 shares during the period. 85.25% of the stock is currently 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.