Nutanix (NASDAQ:NTNX) Upgraded to “Outperform” by Raymond James

Raymond James upgraded shares of Nutanix (NASDAQ:NTNX) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports. Raymond James currently has $72.00 price target on the technology company’s stock.

Other analysts have also recently issued research reports about the stock. Barclays upped their target price on shares of Nutanix from $49.00 to $68.00 and gave the company an overweight rating in a research report on Thursday, February 29th. Piper Sandler raised their target price on Nutanix from $67.00 to $76.00 and gave the stock an overweight rating in a report on Thursday, February 29th. JPMorgan Chase & Co. upped their price target on Nutanix from $54.00 to $65.00 and gave the company an overweight rating in a research note on Monday, February 26th. Susquehanna lifted their price objective on shares of Nutanix from $60.00 to $75.00 and gave the stock a positive rating in a research note on Wednesday, April 10th. Finally, Morgan Stanley increased their target price on shares of Nutanix from $58.00 to $63.00 and gave the stock an equal weight rating in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Nutanix currently has a consensus rating of Moderate Buy and an average price target of $65.69.

Nutanix Stock Up 1.4 %

Shares of NTNX opened at $66.21 on Wednesday. The stock’s fifty day simple moving average is $63.04 and its 200-day simple moving average is $52.96. The firm has a market capitalization of $16.18 billion, a PE ratio of -183.92 and a beta of 1.27. Nutanix has a 12-month low of $24.08 and a 12-month high of $67.19.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share (EPS) for the quarter. The business had revenue of $565.23 million for the quarter, compared to analyst estimates of $551.82 million. Analysts anticipate that Nutanix will post -0.04 EPS for the current year.

Insider Transactions at Nutanix

In related news, Director Steven J. Gomo sold 25,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $64.11, for a total value of $1,602,750.00. Following the completion of the transaction, the director now owns 3,962 shares of the company’s stock, valued at $254,003.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Steven J. Gomo sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $64.11, for a total transaction of $1,602,750.00. Following the sale, the director now owns 3,962 shares in the company, valued at approximately $254,003.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO David Sangster sold 12,545 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $63.04, for a total transaction of $790,836.80. Following the transaction, the chief operating officer now owns 70,192 shares in the company, valued at $4,424,903.68. The disclosure for this sale can be found here. Insiders sold 129,506 shares of company stock valued at $8,270,938 in the last ninety days. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nutanix

Hedge funds have recently added to or reduced their stakes in the business. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Nutanix during the 4th quarter worth about $29,000. GAMMA Investing LLC acquired a new position in shares of Nutanix in the fourth quarter valued at approximately $30,000. Kapitalo Investimentos Ltda bought a new position in shares of Nutanix during the fourth quarter worth approximately $37,000. Harvest Fund Management Co. Ltd acquired a new stake in Nutanix during the 4th quarter worth approximately $40,000. Finally, Fifth Third Bancorp acquired a new stake in Nutanix during the 4th quarter worth approximately $62,000. 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.