Nutanix (NTNX) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Nutanix (NASDAQ:NTNX) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning. They currently have $38.00 target price on the technology company’s stock.

According to Zacks, “Nutanix, Inc. provides an enterprise cloud platform which converges silos of server, virtualization and storage into integrated solution and connects to public cloud services. Nutanix, Inc. is based in San Jose, United States. “

A number of other equities analysts have also recently commented on the company. William Blair reiterated a buy rating on shares of Nutanix in a report on Thursday, August 31st. JMP Securities restated an outperform rating and set a $35.00 price objective on shares of Nutanix in a report on Sunday, September 3rd. ValuEngine cut Nutanix from a hold rating to a sell rating in a report on Thursday, November 9th. Oppenheimer restated a buy rating and set a $34.00 price objective on shares of Nutanix in a report on Thursday, September 7th. Finally, Bank of America boosted their price objective on Nutanix from $30.00 to $35.00 and gave the company a buy rating in a report on Monday, September 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Nutanix presently has an average rating of Buy and a consensus target price of $34.71.

Shares of Nutanix (NASDAQ NTNX) traded up $0.28 during trading on Wednesday, hitting $35.06. The stock had a trading volume of 2,811,070 shares, compared to its average volume of 4,456,135. Nutanix has a 12-month low of $14.38 and a 12-month high of $38.28.

Nutanix (NASDAQ:NTNX) last announced its earnings results on Thursday, November 30th. The technology company reported ($0.16) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.26) by $0.10. The firm had revenue of $275.60 million during the quarter, compared to analysts’ expectations of $267.02 million. Nutanix had a negative return on equity of 363.55% and a negative net margin of 40.81%. The company’s quarterly revenue was up 46.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) EPS. research analysts forecast that Nutanix will post -1.81 earnings per share for the current year.

In other Nutanix news, President Sudheesh Nair Vadakkedath sold 75,000 shares of Nutanix stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $21.88, for a total transaction of $1,641,000.00. Following the completion of the sale, the president now directly owns 110,519 shares of the company’s stock, valued at approximately $2,418,155.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kenneth W. Long III sold 30,000 shares of Nutanix stock in a transaction on Friday, November 10th. The shares were sold at an average price of $29.11, for a total value of $873,300.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,791,869 shares of company stock valued at $50,409,588. 19.81% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTNX. FMR LLC raised its position in shares of Nutanix by 320.6% in the 2nd quarter. FMR LLC now owns 12,043,981 shares of the technology company’s stock worth $242,686,000 after acquiring an additional 9,180,123 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Nutanix in the 2nd quarter worth $55,063,000. Goldman Sachs Group Inc. raised its position in shares of Nutanix by 3,462.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 734,886 shares of the technology company’s stock worth $14,808,000 after acquiring an additional 714,257 shares in the last quarter. Cramer Rosenthal Mcglynn LLC bought a new position in shares of Nutanix in the 3rd quarter worth $14,668,000. Finally, New York State Common Retirement Fund raised its position in shares of Nutanix by 1,771.2% in the 2nd quarter. New York State Common Retirement Fund now owns 527,700 shares of the technology company’s stock worth $10,633,000 after acquiring an additional 499,499 shares in the last quarter. 35.35% of the stock is owned by hedge funds and other institutional investors.

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About Nutanix

Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.

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