Nutanix (NASDAQ:NTNX) Price Target Lowered to $18.00 at Morgan Stanley

Nutanix (NASDAQ:NTNXGet Rating) had its price target decreased by research analysts at Morgan Stanley from $31.00 to $18.00 in a report released on Thursday, The Fly reports. Morgan Stanley’s target price suggests a potential downside of 15.97% from the stock’s previous close.

A number of other research analysts also recently weighed in on NTNX. Needham & Company LLC dropped their price target on Nutanix from $71.00 to $34.00 and set a “buy” rating on the stock in a research note on Thursday, March 3rd. Piper Sandler dropped their price target on Nutanix from $47.00 to $28.00 in a research note on Thursday. Wells Fargo & Company dropped their price target on Nutanix from $40.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 3rd. Bank of America downgraded Nutanix from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $54.00 to $22.00 in a research note on Thursday. Finally, William Blair lowered Nutanix from an “outperform” rating to a “market perform” rating in a report on Thursday. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $36.64.

NASDAQ NTNX opened at $21.42 on Thursday. The business has a 50 day simple moving average of $24.95 and a 200 day simple moving average of $27.96. Nutanix has a one year low of $19.74 and a one year high of $44.50. The stock has a market capitalization of $4.72 billion, a P/E ratio of -4.50 and a beta of 1.50.

Nutanix (NASDAQ:NTNXGet Rating) last released its earnings results on Wednesday, May 25th. The technology company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.60. The business had revenue of $403.70 million for the quarter, compared to analyst estimates of $397.90 million. During the same period in the prior year, the business earned ($0.87) EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, sell-side analysts predict that Nutanix will post -2.34 earnings per share for the current year.

In other news, CFO Duston Williams sold 11,594 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $23.78, for a total transaction of $275,705.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rajiv Ramaswami sold 46,233 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $23.78, for a total transaction of $1,099,420.74. The disclosure for this sale can be found here. Insiders sold a total of 82,652 shares of company stock worth $1,970,165 in the last 90 days. Company insiders own 0.92% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Nutanix by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 23,344,292 shares of the technology company’s stock valued at $626,094,000 after buying an additional 1,116,856 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Nutanix by 1.2% during the 1st quarter. BlackRock Inc. now owns 9,703,410 shares of the technology company’s stock valued at $260,245,000 after buying an additional 117,982 shares in the last quarter. Spyglass Capital Management LLC lifted its stake in shares of Nutanix by 4.4% during the 3rd quarter. Spyglass Capital Management LLC now owns 6,714,994 shares of the technology company’s stock valued at $253,155,000 after buying an additional 283,965 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in shares of Nutanix by 0.5% during the 1st quarter. Champlain Investment Partners LLC now owns 5,706,755 shares of the technology company’s stock valued at $153,055,000 after buying an additional 28,160 shares in the last quarter. Finally, Primecap Management Co. CA lifted its stake in shares of Nutanix by 18.4% during the 1st quarter. Primecap Management Co. CA now owns 4,195,735 shares of the technology company’s stock valued at $112,530,000 after buying an additional 653,020 shares in the last quarter. Institutional investors own 70.43% of the company’s stock.

About Nutanix (Get Rating)

Nutanix, Inc provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers Acropolis converges virtualization, enterprise storage services, and networking visualization and security services; Acropolis Hypervisor, an enterprise-grade virtualization solution; Nutanix Karbon for automated deployment and management of Kubernetes clusters to simplify the provisioning, operations, and lifecycle management of cloud-native environments; and Nutanix Clusters solution.

Featured Articles

The Fly logo

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

Want More Great Investing Ideas?

Receive News & Ratings for Nutanix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nutanix and related companies with MarketBeat.com's FREE daily email newsletter.