Wells Fargo & Company Boosts Nutanix (NASDAQ:NTNX) Price Target to $75.00

Nutanix (NASDAQ:NTNX) had its target price upped by equities researchers at Wells Fargo & Company from $60.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 12.44% from the company’s current price.

NTNX has been the topic of a number of other research reports. Morgan Stanley increased their price target on Nutanix from $72.00 to $78.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Nutanix from $65.00 to $75.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Royal Bank of Canada upped their price objective on shares of Nutanix from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Piper Sandler raised their target price on shares of Nutanix from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays boosted their target price on shares of Nutanix from $75.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $78.86.

Nutanix Stock Performance

NTNX stock opened at $66.70 on Wednesday. Nutanix has a 52 week low of $40.44 and a 52 week high of $75.80. The company’s 50-day simple moving average is $64.79 and its 200 day simple moving average is $59.45. The company has a market capitalization of $17.69 billion, a PE ratio of -128.27, a price-to-earnings-growth ratio of 12.05 and a beta of 1.17.

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

Insider Transactions at Nutanix

In other Nutanix news, CFO Rukmini Sivaraman sold 24,316 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.85, for a total transaction of $1,430,996.60. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David Sangster sold 11,950 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $59.83, for a total transaction of $714,968.50. Following the transaction, the chief operating officer now directly owns 123,868 shares of the company’s stock, valued at $7,411,022.44. The trade was a 8.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.80% of the company’s stock.

Institutional Investors Weigh In On Nutanix

A number of institutional investors have recently made changes to their positions in NTNX. O Shaughnessy Asset Management LLC acquired a new position in shares of Nutanix in the first quarter worth approximately $213,000. Tidal Investments LLC boosted its stake in shares of Nutanix by 37.0% in the 1st quarter. Tidal Investments LLC now owns 23,551 shares of the technology company’s stock valued at $1,454,000 after purchasing an additional 6,364 shares during the last quarter. Burney Co. acquired a new stake in shares of Nutanix during the first quarter worth $688,000. Cetera Investment Advisers raised its stake in Nutanix by 48.7% during the first quarter. Cetera Investment Advisers now owns 76,103 shares of the technology company’s stock worth $4,697,000 after buying an additional 24,918 shares during the last quarter. Finally, Cetera Advisors LLC acquired a new position in Nutanix in the first quarter valued at $3,141,000. 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.