Royal Bank of Canada Increases Nutanix (NASDAQ:NTNX) Price Target to $80.00

Nutanix (NASDAQ:NTNXGet Free Report) had its price target hoisted by stock analysts at Royal Bank of Canada from $72.00 to $80.00 in a report released on Wednesday. The firm currently has an “overweight” rating on the technology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 41.94% from the stock’s previous close.

Several other equities research analysts also recently issued reports on NTNX. Susquehanna raised their price target on Nutanix from $60.00 to $75.00 and gave the company a “positive” rating in a research report on Wednesday, April 10th. Barclays raised their price target on Nutanix from $68.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, May 24th. KeyCorp raised their price target on Nutanix from $68.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Morgan Stanley raised their price target on Nutanix from $63.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, May 23rd. Finally, Bank of America raised their price target on Nutanix from $55.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $72.77.

View Our Latest Stock Report on Nutanix

Nutanix Price Performance

NASDAQ NTNX opened at $56.36 on Wednesday. Nutanix has a fifty-two week low of $26.47 and a fifty-two week high of $73.69. The stock’s 50-day moving average is $64.82 and its two-hundred day moving average is $56.50. The firm has a market cap of $13.77 billion, a P/E ratio of -156.56 and a beta of 1.27.

Nutanix (NASDAQ:NTNXGet Free Report) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.17 earnings per share for the quarter. The company had revenue of $565.23 million for the quarter, compared to the consensus estimate of $551.82 million. On average, equities analysts expect that Nutanix will post -0.04 EPS for the current year.

Insiders Place Their Bets

In other Nutanix news, COO David Sangster sold 12,545 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $63.04, for a total transaction of $790,836.80. Following the completion of the transaction, the chief operating officer now owns 70,192 shares in the company, valued at $4,424,903.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Nutanix news, COO David Sangster sold 12,545 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $63.04, for a total transaction of $790,836.80. Following the completion of the transaction, the chief operating officer now owns 70,192 shares in the company, valued at $4,424,903.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Rukmini Sivaraman sold 53,029 shares of the firm’s stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $64.77, for a total transaction of $3,434,688.33. Following the transaction, the chief financial officer now owns 144,635 shares of the company’s stock, valued at approximately $9,368,008.95. The disclosure for this sale can be found here. Insiders sold a total of 104,506 shares of company stock worth $6,668,188 over the last quarter. Company insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Sonen Capital LLC raised its stake in shares of Nutanix by 1.8% in the third quarter. Sonen Capital LLC now owns 18,118 shares of the technology company’s stock valued at $632,000 after acquiring an additional 324 shares during the last quarter. M&T Bank Corp raised its stake in shares of Nutanix by 3.6% in the fourth quarter. M&T Bank Corp now owns 9,270 shares of the technology company’s stock valued at $442,000 after acquiring an additional 325 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Nutanix by 2.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 18,433 shares of the technology company’s stock valued at $1,138,000 after acquiring an additional 369 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Nutanix by 49.7% in the first quarter. Venturi Wealth Management LLC now owns 1,208 shares of the technology company’s stock valued at $75,000 after acquiring an additional 401 shares during the last quarter. Finally, Motley Fool Asset Management LLC raised its stake in shares of Nutanix by 10.7% in the first quarter. Motley Fool Asset Management LLC now owns 5,080 shares of the technology company’s stock valued at $314,000 after acquiring an additional 489 shares during the last quarter. Institutional investors own 85.25% of the company’s stock.

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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