Barclays Raises Nutanix (NASDAQ:NTNX) Price Target to $87.00

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

Other equities analysts have also recently issued research reports about the company. Oppenheimer initiated coverage on Nutanix in a report on Wednesday, November 13th. They set an “outperform” rating and a $80.00 target price for the company. Morgan Stanley raised shares of Nutanix from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $71.00 to $72.00 in a research note on Monday, October 28th. Bank of America increased their target price on shares of Nutanix from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Needham & Company LLC increased their price objective on shares of Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Stock Performance

NASDAQ:NTNX opened at $66.70 on Wednesday. The stock has a market capitalization of $17.69 billion, a PE ratio of -128.27, a P/E/G ratio of 12.05 and a beta of 1.17. Nutanix has a fifty-two week low of $40.44 and a fifty-two week high of $75.80. The company has a fifty day moving average of $64.64 and a two-hundred day moving average of $59.40.

Nutanix (NASDAQ:NTNX) 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. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. The firm had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Research analysts forecast that Nutanix will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Nutanix

In related news, COO David Sangster sold 11,950 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $59.83, for a total value of $714,968.50. Following the sale, the chief operating officer now directly owns 123,868 shares in the company, valued at approximately $7,411,022.44. The trade was a 8.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rukmini Sivaraman sold 24,316 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the transaction, the chief financial officer now directly owns 192,169 shares in the company, valued at $11,309,145.65. The trade was a 11.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Nutanix

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Nutanix during the second quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in Nutanix during the 3rd quarter worth about $27,000. Larson Financial Group LLC boosted its holdings in Nutanix by 122.7% during the 3rd quarter. Larson Financial Group LLC now owns 510 shares of the technology company’s stock valued at $30,000 after acquiring an additional 281 shares during the period. Advisors Asset Management Inc. grew its position in Nutanix by 150.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 534 shares of the technology company’s stock valued at $32,000 after acquiring an additional 321 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in Nutanix in the 2nd quarter valued at about $32,000. 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.