Nutanix, Inc. (NASDAQ:NTNX) Receives $73.86 Average Price Target from Analysts

Nutanix, Inc. (NASDAQ:NTNX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the sixteen brokerages that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $73.86.

Several equities analysts have weighed in on the company. Raymond James lifted their price objective on Nutanix from $76.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Oppenheimer assumed coverage on Nutanix in a report on Wednesday, November 13th. They issued an "outperform" rating and a $80.00 price objective for the company. Piper Sandler lifted 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 price target on Nutanix from $65.00 to $75.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Finally, Northland Securities boosted their price target on Nutanix from $71.00 to $74.00 and gave the stock a "market perform" rating in a report on Friday, August 30th.

Nutanix Stock Performance

NASDAQ:NTNX traded down $0.11 during mid-day trading on Tuesday, hitting $68.44. 1,756,206 shares of the stock were exchanged, compared to its average volume of 2,479,534. The stock has a market capitalization of $18.15 billion, a price-to-earnings ratio of -131.83, a price-to-earnings-growth ratio of 13.22 and a beta of 1.17. The firm's 50-day simple moving average is $63.06 and its 200 day simple moving average is $59.12. Nutanix has a fifty-two week low of $39.15 and a fifty-two week high of $73.69.

Nutanix (NASDAQ:NTNX - Get Free Report) last released its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.02. The business had revenue of $547.95 million during the quarter, compared to analysts' expectations of $537.12 million. Nutanix had a negative return on equity of 7.57% and a negative net margin of 5.81%. On average, analysts predict that Nutanix will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the sale, the chief financial officer now owns 192,169 shares in the company, valued at $11,309,145.65. This represents a 11.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Sangster sold 11,950 shares of the company's 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NTNX. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Nutanix during the second quarter worth $25,000. ORG Wealth Partners LLC purchased a new stake in Nutanix in the third quarter worth $27,000. Larson Financial Group LLC increased 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 worth $30,000 after buying an additional 281 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in Nutanix in the second quarter worth $32,000. Finally, Advisors Asset Management Inc. grew its position in shares of Nutanix by 150.7% in the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company's stock valued at $32,000 after purchasing an additional 321 shares in the last quarter. Institutional investors own 85.25% of the company's stock.

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.