Nutanix (NASDAQ:NTNX) Given a $29.00 Price Target by Robert W. Baird Analysts

Robert W. Baird set a $29.00 target price on Nutanix (NASDAQ:NTNX) in a report issued on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on NTNX. Jefferies Financial Group dropped their price objective on Nutanix from $49.00 to $40.00 and set a buy rating on the stock in a report on Friday, May 31st. Stifel Nicolaus set a $22.00 price objective on Nutanix and gave the stock a hold rating in a report on Friday, August 16th. Wells Fargo & Co dropped their price objective on Nutanix from $35.00 to $25.00 in a report on Thursday, August 29th. ValuEngine raised Nutanix from a buy rating to a strong-buy rating in a report on Thursday, August 1st. Finally, Bank of America reissued a buy rating and set a $35.00 price objective (down previously from $41.00) on shares of Nutanix in a report on Tuesday, August 13th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $37.31.

Shares of NASDAQ NTNX traded up $0.30 during trading on Friday, reaching $27.04. 2,615,793 shares of the stock traded hands, compared to its average volume of 5,342,224. Nutanix has a 52-week low of $17.74 and a 52-week high of $54.68. The company has a debt-to-equity ratio of 1.48, a current ratio of 2.41 and a quick ratio of 2.41. The company has a 50-day moving average of $21.58 and a 200-day moving average of $31.22. The stock has a market capitalization of $4.97 billion, a P/E ratio of -8.50 and a beta of 1.29.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, August 28th. The technology company reported ($0.96) EPS for the quarter, beating analysts’ consensus estimates of ($1.05) by $0.09. Nutanix had a negative return on equity of 150.86% and a negative net margin of 50.25%. The firm had revenue of $299.90 million for the quarter, compared to analysts’ expectations of $293.49 million. During the same quarter in the prior year, the firm earned ($0.11) EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts expect that Nutanix will post -4.28 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the business. AdvisorNet Financial Inc raised its holdings in shares of Nutanix by 8,992.3% in the 2nd quarter. AdvisorNet Financial Inc now owns 1,182 shares of the technology company’s stock valued at $31,000 after acquiring an additional 1,169 shares in the last quarter. Tortoise Index Solutions LLC purchased a new stake in shares of Nutanix in the 1st quarter valued at about $37,000. Advisory Services Network LLC raised its holdings in shares of Nutanix by 986.7% in the 2nd quarter. Advisory Services Network LLC now owns 2,771 shares of the technology company’s stock valued at $71,000 after acquiring an additional 2,516 shares in the last quarter. Creative Financial Designs Inc. ADV raised its holdings in shares of Nutanix by 31.9% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 2,995 shares of the technology company’s stock valued at $78,000 after acquiring an additional 725 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA raised its holdings in shares of Nutanix by 6,428.6% in the 2nd quarter. Compagnie Lombard Odier SCmA now owns 3,656 shares of the technology company’s stock valued at $94,000 after acquiring an additional 3,600 shares in the last quarter. 64.83% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Company Profile

Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.

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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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