Nutanix (NASDAQ:NTNX) Now Covered by Analysts at Oppenheimer

Stock analysts at Oppenheimer began coverage on shares of Nutanix (NASDAQ:NTNX) in a research note issued to investors on Wednesday,Benzinga reports. The firm set an “outperform” rating and a $80.00 price target on the technology company’s stock. Oppenheimer’s price objective would indicate a potential upside of 10.74% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on NTNX. Bank of America upped their price objective on Nutanix from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Royal Bank of Canada increased their price objective on Nutanix from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley raised Nutanix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $71.00 to $72.00 in a report on Monday, October 28th. Northland Securities raised their target price on Nutanix from $71.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, August 30th. Finally, Raymond James raised their target price on Nutanix from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Three 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $73.86.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $72.24 on Wednesday. The stock has a market capitalization of $19.16 billion, a P/E ratio of -138.92, a price-to-earnings-growth ratio of 14.56 and a beta of 1.17. Nutanix has a 1-year low of $38.43 and a 1-year high of $73.69. The business has a fifty day moving average price of $62.16 and a 200 day moving average price of $58.80.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings data on Wednesday, August 28th. The technology company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.02. The firm 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%. As a group, equities research analysts anticipate that Nutanix will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO David Sangster sold 11,950 shares of the firm’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 owns 123,868 shares in the company, valued at $7,411,022.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 192,169 shares in the company, valued at approximately $11,309,145.65. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 owns 123,868 shares in the company, valued at approximately $7,411,022.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Nutanix during the second quarter worth $25,000. ORG Wealth Partners LLC acquired a new stake in Nutanix during the third quarter worth $27,000. Larson Financial Group LLC increased its stake in Nutanix by 122.7% during the third quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock worth $30,000 after acquiring an additional 281 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Nutanix by 150.7% during the third quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock worth $32,000 after acquiring an additional 321 shares during the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in Nutanix during the second quarter worth $32,000. Hedge funds and other 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.