Shares of Nutanix, Inc. (NASDAQ: NTNX) have received a “Moderate Buy” rating from fifteen research firms. Among the analysts covering the stock, four rated it as a hold, while eleven recommended buying the shares. The average target price over the next twelve months is $72.00. Recently, several research analysts have provided their insights on Nutanix. KeyCorp raised their price target to $79.00 with an “overweight” rating. Barclays lowered their target to $80.00 while reiterating an “overweight” rating. Piper Sandler increased their target to $76.00 with an “overweight” rating, and Bank of America raised their target to $65.00 with a “buy” rating. Northland Securities downgraded Nutanix to “market perform” with a $71.00 target.
In terms of insider trading, CEO Rajiv Ramaswami and CFO Rukmini Sivaraman sold shares of Nutanix stock in June and April, respectively. Ramaswami sold around 24,000 shares at an average price of $54.19, while Sivaraman sold over 53,000 shares at $64.77. These transactions were disclosed with the SEC. Overall, insiders have sold nearly 100,000 shares of the company’s stock, representing 0.46% ownership.
Institutional investors have shown interest in Nutanix as well. Massachusetts Financial Services Co. increased its stake, while Tabor Asset Management LP purchased new shares. Other firms like Raymond James & Associates, M&T Bank Corp, and International Assets Investment Management LLC also grew their holdings. Hedge funds and institutional investors collectively own 85.25% of Nutanix’s stock.
From a financial standpoint, Nutanix’s stock has shown volatility, with a price of $53.40 per share. The company’s market capitalization is around $13.17 billion, and it has a negative P/E ratio. Nutanix reported its earnings data on May 29th, surpassing analyst expectations with $0.01 earnings per share and revenue of $524.58 million.
Nutanix Inc. offers an enterprise cloud platform that includes hyperconverged infrastructure software, the Acropolis Hypervisor, and other virtualization and networking solutions. As the company continues to evolve its offerings, analysts believe it has room for growth and potential for increased profitability.
While Nutanix currently holds a “Moderate Buy” rating, top analysts recommend other stocks as better investments. MarketBeat provides insights into the top-performing stocks preferred by Wall Street analysts. For more information, consider exploring MarketBeat’s recommendations and reports for a comprehensive view of the market landscape.
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