Maxim Group Reaffirms Buy Rating for Nutanix Inc (NTNX)
Nutanix Inc (NASDAQ:NTNX)‘s stock had its “buy” rating restated by investment analysts at Maxim Group in a report released on Thursday. They presently have a $42.00 target price on the stock, up from their prior target price of $40.00. Maxim Group’s target price would suggest a potential upside of 31.37% from the stock’s previous close.
NTNX has been the subject of several other reports. Vetr upgraded Nutanix from a “hold” rating to a “strong-buy” rating and set a $47.17 price objective for the company in a research report on Tuesday, October 4th. Summit Redstone started coverage on shares of Nutanix in a research note on Friday, October 14th. They issued a “sell” rating for the company. They noted that the move was a valuation call. BTIG Research started coverage on shares of Nutanix in a research note on Wednesday, October 19th. They issued a “neutral” rating for the company. JMP Securities started coverage on shares of Nutanix in a research note on Tuesday, October 18th. They issued an “outperform” rating and a $38.00 target price for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Nutanix in a research note on Tuesday, October 25th. They issued a “neutral” rating and a $33.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Nutanix currently has a consensus rating of “Buy” and an average target price of $36.31.
Shares of Nutanix (NASDAQ:NTNX) opened at 32.00 on Thursday. The firm’s market capitalization is $1.47 billion. Nutanix has a 52 week low of $23.11 and a 52 week high of $46.78. The stock has a 50 day moving average price of $29.71 and a 200 day moving average price of $30.98.
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In other news, major shareholder Canada Pension Plan Investment acquired 584,093 shares of the business’s stock in a transaction on Thursday, October 27th. The shares were purchased at an average price of $28.13 per share, for a total transaction of $16,430,536.09. Following the acquisition, the insider now directly owns 2,210,807 shares of the company’s stock, valued at approximately $62,190,000.91. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
A number of institutional investors have recently modified their holdings of NTNX. GAM Holding AG purchased a new position in shares of Nutanix during the third quarter worth approximately $4,884,000. JPMorgan Chase & Co. purchased a new position in shares of Nutanix during the third quarter worth approximately $29,979,000. UBS Asset Management Americas Inc. purchased a new position in shares of Nutanix during the third quarter worth approximately $2,925,000. AO Asset Management LLC purchased a new position in shares of Nutanix during the third quarter worth approximately $555,000. Finally, Geduld E E purchased a new position in shares of Nutanix during the third quarter worth approximately $422,000.
Nutanix, Inc (Nutanix) provides an enterprise cloud platform that converges silos of server, virtualization and storage into one integrated solution and connects to public cloud services. The Company’s software-driven platform delivers the scalability and pay-as-you-grow economics of the public cloud, while addressing enterprise requirements of application mobility, security, data integrity and control.
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