Morgan Stanley Forecasts Strong Price Appreciation for Nutanix (NASDAQ:NTNX) Stock

Nutanix (NASDAQ:NTNX) had its price objective raised by Morgan Stanley from $78.00 to $85.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s price target would suggest a potential upside of 28.22% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Northland Securities reissued a “market perform” rating and issued a $77.00 price target (up from $74.00) on shares of Nutanix in a report on Wednesday, November 27th. Royal Bank of Canada upped their price objective on shares of 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 upped their price objective on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Barclays upped their price objective on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Finally, Wells Fargo & Company upped their price objective on shares of Nutanix from $60.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.47.

Nutanix Trading Up 0.4 %

Shares of NASDAQ NTNX opened at $66.29 on Tuesday. Nutanix has a twelve month low of $43.35 and a twelve month high of $75.80. The company has a market capitalization of $17.76 billion, a price-to-earnings ratio of -189.40, a PEG ratio of 10.34 and a beta of 1.13. The firm has a 50-day moving average of $66.35 and a two-hundred day moving average of $59.02.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NTNX. Wealth Enhancement Advisory Services LLC bought a new position in Nutanix in the second quarter worth $290,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Nutanix during the second quarter valued at $279,000. &PARTNERS bought a new position in shares of Nutanix during the second quarter valued at $545,000. Bank of New York Mellon Corp lifted its holdings in shares of Nutanix by 3.7% during the second quarter. Bank of New York Mellon Corp now owns 873,685 shares of the technology company’s stock valued at $49,669,000 after acquiring an additional 31,302 shares during the period. Finally, Liontrust Investment Partners LLP lifted its holdings in shares of Nutanix by 100.0% during the second quarter. Liontrust Investment Partners LLP now owns 40,000 shares of the technology company’s stock valued at $2,274,000 after acquiring an additional 20,000 shares during the period. 85.25% of the stock is owned by institutional investors.

About Nutanix

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.