Nutanix (NASDAQ:NTNX) PT Raised to $68.00 at KeyCorp

Nutanix (NASDAQ:NTNXFree Report) had its target price upped by KeyCorp from $60.00 to $68.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently issued reports on the company. Piper Sandler increased their target price on Nutanix from $42.00 to $50.00 and gave the stock an overweight rating in a research note on Thursday, November 30th. Morgan Stanley upped their price objective on Nutanix from $38.00 to $50.00 and gave the stock an equal weight rating in a research note on Thursday, November 30th. StockNews.com cut shares of Nutanix from a strong-buy rating to a buy rating in a research note on Friday, January 12th. TheStreet lowered shares of Nutanix from a c rating to a d rating in a research report on Wednesday, November 29th. Finally, William Blair raised shares of Nutanix from a market perform rating to an outperform rating in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $54.00.

View Our Latest Stock Report on NTNX

Nutanix Price Performance

Shares of NTNX stock opened at $56.52 on Friday. The stock has a market cap of $13.72 billion, a PE ratio of -71.54 and a beta of 1.27. The stock has a 50-day moving average of $50.49 and a 200-day moving average of $40.65. Nutanix has a one year low of $23.34 and a one year high of $59.15.

Nutanix (NASDAQ:NTNXGet Free Report) last announced its quarterly earnings results on Wednesday, November 29th. The technology company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.11. The firm had revenue of $511.10 million for the quarter, compared to the consensus estimate of $501.26 million. During the same period in the prior year, the business earned ($0.32) earnings per share. The company’s revenue for the quarter was up 17.9% compared to the same quarter last year. As a group, research analysts anticipate that Nutanix will post -0.19 earnings per share for the current year.

Insider Activity

In related news, insider Tyler Wall sold 35,000 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $47.12, for a total value of $1,649,200.00. Following the completion of the sale, the insider now directly owns 37,277 shares in the company, valued at approximately $1,756,492.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Tyler Wall sold 35,000 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $47.12, for a total value of $1,649,200.00. Following the completion of the sale, the insider now owns 37,277 shares of the company’s stock, valued at $1,756,492.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 87,174 shares of the firm’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $46.04, for a total transaction of $4,013,490.96. Following the transaction, the chief executive officer now directly owns 299,328 shares in the company, valued at $13,781,061.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,229 shares of company stock valued at $7,276,868. 0.46% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Nutanix in the 4th quarter valued at $29,000. GAMMA Investing LLC acquired a new position in shares of Nutanix in the 4th quarter worth approximately $30,000. BluePath Capital Management LLC acquired a new position in Nutanix in the third quarter valued at $31,000. Point72 Hong Kong Ltd bought a new stake in shares of Nutanix during the 1st quarter valued at about $35,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Nutanix during the 4th quarter worth approximately $40,000. 78.74% of the stock is currently owned by institutional investors and hedge funds.

About Nutanix

(Get Free Report)

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.

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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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