Piper Sandler Issues Positive Forecast for Nutanix (NASDAQ:NTNX) Stock Price

Nutanix (NASDAQ:NTNX) had its target price lifted by Piper Sandler from $77.00 to $83.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other research analysts have also recently issued reports on the stock. Northland Securities reiterated a “market perform” rating and issued a $77.00 target price (up previously from $74.00) on shares of Nutanix in a research note on Wednesday. Royal Bank of Canada boosted their price objective on Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Needham & Company LLC raised their target price on Nutanix from $80.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays upped their price target on shares of Nutanix from $75.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Bank of America raised their price objective 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. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $78.86.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $66.70 on Wednesday. Nutanix has a 52-week low of $40.44 and a 52-week high of $75.80. The business has a fifty day moving average of $64.64 and a two-hundred day moving average of $59.40. The stock has a market cap of $17.69 billion, a PE ratio of -128.27, a PEG ratio of 12.05 and a beta of 1.17.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The firm had revenue of $547.95 million during the quarter, compared to the consensus estimate of $537.12 million. Nutanix had a negative net margin of 5.81% and a negative return on equity of 7.57%. Analysts predict that Nutanix will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Nutanix

In related news, CFO Rukmini Sivaraman sold 24,316 shares of Nutanix stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following the completion of the sale, the chief financial officer now directly owns 192,169 shares of the company’s stock, valued at $11,309,145.65. The trade was a 11.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO David Sangster sold 11,950 shares of the company’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 completion of the sale, the chief operating officer now owns 123,868 shares of the company’s stock, valued at $7,411,022.44. This represents a 8.80 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bain Capital Investors LLC bought a new stake in Nutanix in the third quarter valued at approximately $998,601,000. Champlain Investment Partners LLC grew its holdings in shares of Nutanix by 3.7% in the 3rd quarter. Champlain Investment Partners LLC now owns 5,989,319 shares of the technology company’s stock valued at $354,867,000 after buying an additional 215,363 shares during the period. Geode Capital Management LLC increased its position in shares of Nutanix by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,147,126 shares of the technology company’s stock valued at $245,968,000 after buying an additional 22,091 shares in the last quarter. Renaissance Technologies LLC raised its stake in Nutanix by 7.4% during the 2nd quarter. Renaissance Technologies LLC now owns 3,738,756 shares of the technology company’s stock worth $212,548,000 after buying an additional 256,156 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Nutanix by 15.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 2,816,647 shares of the technology company’s stock worth $166,886,000 after acquiring an additional 374,328 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

About Nutanix

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.