Nutanix (NASDAQ:NTNX) Upgraded at Raymond James

Nutanix (NASDAQ:NTNX) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $72.00 target price on the technology company’s stock. Raymond James’ price objective would suggest a potential upside of 10.23% from the company’s previous close.

Several other brokerages have also weighed in on NTNX. JPMorgan Chase & Co. lifted their price objective on Nutanix from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Barclays lifted their price objective on Nutanix from $49.00 to $68.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. JMP Securities boosted their price target on Nutanix from $50.00 to $70.00 and gave the company a “market outperform” rating in a research note on Monday, February 5th. William Blair raised Nutanix from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 17th. Finally, Needham & Company LLC boosted their price target on Nutanix from $62.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Nutanix presently has an average rating of “Moderate Buy” and a consensus target price of $65.69.

Nutanix Stock Up 0.6 %

Shares of NASDAQ NTNX opened at $65.32 on Wednesday. The business’s 50 day moving average is $62.90 and its two-hundred day moving average is $52.87. The company has a market cap of $15.96 billion, a P/E ratio of -181.44 and a beta of 1.27. Nutanix has a 12 month low of $23.88 and a 12 month high of $66.99.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The firm had revenue of $565.23 million for the quarter, compared to analyst estimates of $551.82 million. Sell-side analysts expect that Nutanix will post -0.04 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Nutanix news, insider Tyler Wall sold 15,000 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $62.25, for a total value of $933,750.00. Following the transaction, the insider now owns 13,168 shares of the company’s stock, valued at $819,708. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Tyler Wall sold 15,000 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $62.25, for a total transaction of $933,750.00. Following the completion of the sale, the insider now owns 13,168 shares in the company, valued at $819,708. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rukmini Sivaraman sold 53,029 shares of the business’s stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total value of $3,434,688.33. Following the sale, the chief financial officer now owns 144,635 shares of the company’s stock, valued at approximately $9,368,008.95. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 129,506 shares of company stock valued at $8,270,938. 0.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Nutanix

Institutional investors and hedge funds have recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Nutanix during the fourth quarter worth $29,000. GAMMA Investing LLC bought a new stake in Nutanix in the fourth quarter valued at about $30,000. Kapitalo Investimentos Ltda bought a new stake in Nutanix in the fourth quarter valued at about $37,000. Harvest Fund Management Co. Ltd bought a new stake in Nutanix in the fourth quarter valued at about $40,000. Finally, Fifth Third Bancorp bought a new stake in Nutanix in the fourth quarter valued at about $62,000. Institutional investors 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.