Piper Sandler Upgrades Nutanix (NASDAQ:NTNX) to Overweight

Nutanix (NASDAQ:NTNX) was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a $37.00 price target on the technology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 39.41% from the company’s current price.

A number of other research analysts have also weighed in on NTNX. Northland Securities restated a “buy” rating on shares of Nutanix in a report on Tuesday, February 23rd. KeyCorp lifted their price target on Nutanix from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, March 3rd. JPMorgan Chase & Co. upgraded Nutanix from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $30.00 to $38.00 in a research report on Tuesday. Needham & Company LLC boosted their target price on Nutanix from $37.00 to $43.00 and gave the stock a “buy” rating in a research report on Wednesday, March 3rd. Finally, Oppenheimer reaffirmed a “buy” rating and set a $40.00 price target on shares of Nutanix in a research note on Tuesday, March 9th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $36.14.

NASDAQ NTNX opened at $26.54 on Tuesday. The business has a 50 day simple moving average of $27.07 and a 200 day simple moving average of $29.07. Nutanix has a one year low of $17.29 and a one year high of $35.58. The stock has a market capitalization of $5.42 billion, a P/E ratio of -5.77 and a beta of 1.97.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, February 24th. The technology company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.55. Nutanix had a negative return on equity of 1,175,319.00% and a negative net margin of 69.59%. The business had revenue of $346.38 million during the quarter, compared to analysts’ expectations of $329.07 million. As a group, sell-side analysts predict that Nutanix will post -3.9 earnings per share for the current year.

In related news, insider Tyler Wall sold 10,848 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The stock was sold at an average price of $26.85, for a total value of $291,268.80. Following the transaction, the insider now directly owns 108,471 shares of the company’s stock, valued at approximately $2,912,446.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Aaron Boynton sold 3,166 shares of the company’s stock in a transaction that occurred on Tuesday, March 16th. The shares were sold at an average price of $26.85, for a total value of $85,007.10. Following the completion of the transaction, the chief accounting officer now directly owns 26,880 shares in the company, valued at $721,728. The disclosure for this sale can be found here. Insiders sold a total of 1,252,555 shares of company stock worth $33,207,602 in the last 90 days. 6.66% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of NTNX. Accel Wealth Management purchased a new position in shares of Nutanix during the fourth quarter valued at about $26,000. Inspire Advisors LLC purchased a new position in Nutanix in the fourth quarter worth about $33,000. Banque Cantonale Vaudoise grew its position in Nutanix by 100.0% in the fourth quarter. Banque Cantonale Vaudoise now owns 2,000 shares of the technology company’s stock worth $64,000 after acquiring an additional 1,000 shares in the last quarter. Twin Tree Management LP grew its position in Nutanix by 174.3% in the fourth quarter. Twin Tree Management LP now owns 3,130 shares of the technology company’s stock worth $100,000 after acquiring an additional 1,989 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in Nutanix in the first quarter worth about $103,000. Hedge funds and other institutional investors own 66.96% of the company’s stock.

Nutanix Company Profile

Nutanix, Inc develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. The company offers Acropolis, an enterprise cloud platform that converges virtualization, enterprise storage services, and networking services; Nutanix Prism, a consumer-grade control plane, which provides management and analytics; and Acropolis Hypervisor, an enterprise-grade virtualization solution.

See Also: Average Daily Trade Volume – What It Means In Stock Trading

Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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.