Barclays Issues Positive Forecast for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its price objective lifted by Barclays from $75.00 to $87.00 in a research report report published on Wednesday morning,Benzinga reports. Barclays currently has an overweight rating on the technology company’s stock.

NTNX has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on shares of Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler increased their price objective on Nutanix from $76.00 to $77.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Raymond James increased their price target on Nutanix from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, Oppenheimer began coverage on Nutanix in a research note on Wednesday, November 13th. They set an “outperform” rating and a $80.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $66.70 on Wednesday. Nutanix has a 1-year low of $40.44 and a 1-year high of $75.80. The business has a fifty day moving average price of $64.64 and a 200 day moving average price of $59.40. The stock has a market capitalization of $17.69 billion, a P/E ratio of -128.27, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) EPS 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 business had revenue of $547.95 million during the quarter, compared to analyst estimates of $537.12 million. As a group, equities research analysts anticipate that Nutanix will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $59.83, for a total transaction of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at $7,411,022.44. This trade represents a 8.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix 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 transaction, the chief financial officer now owns 192,169 shares of the company’s stock, valued at approximately $11,309,145.65. This represents a 11.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nutanix

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bain Capital Investors LLC acquired a new position in shares of Nutanix in the 3rd quarter valued at $998,601,000. Champlain Investment Partners LLC increased its holdings in Nutanix by 3.7% in the third quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock valued at $354,867,000 after buying an additional 215,363 shares in the last quarter. Geode Capital Management LLC increased its holdings in Nutanix by 0.5% in the third quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after buying an additional 22,091 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Nutanix by 7.4% in the second quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock worth $212,548,000 after acquiring an additional 256,156 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Nutanix by 15.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after acquiring an additional 374,328 shares in the last quarter. 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.