Nutanix, a technology company listed on the NASDAQ under the symbol NTNX, had its price target raised by JPMorgan Chase & Co. analysts from $70.00 to $80.00. The company’s stock was given an “overweight” rating. Other research analysts also published reports on Nutanix, with Barclays, Susquehanna, Raymond James, Royal Bank of Canada, and Bank of America all raising their target prices and giving positive ratings to the stock. Overall, Nutanix has received a “Moderate Buy” rating with an average price target of $68.54.
Nutanix stock opened at $72.85, with a fifty-day moving average of $64.38 and a two-hundred-day moving average of $55.78. The company has a market capitalization of $17.8 billion, a price-to-earnings ratio of -202.36, and a beta of 1.27. Nutanix reported quarterly earnings data on February 28th, posting earnings per share of $0.17 and revenue of $565.23 million.
In terms of internal transactions, Director Steven J. Gomo sold 25,000 shares of Nutanix stock, while Director of Operations David Sangster sold 12,545 shares. Insiders collectively sold 129,506 shares valued at $8,270,938 in the last ninety days.
Institutional trading has also seen activity, with large investors acquiring stakes in Nutanix. Atlantic Edge Private Wealth Management LLC, GAMMA Investing LLC, Kapitalo Investimentos Ltda, Harvest Fund Management Co. Ltd, and Fifth Third Bancorp are among the institutional investors who have recently increased their holdings in the company.
Nutanix provides an enterprise cloud platform, offering hyperconverged infrastructure software, virtualization solutions, network visualization and security services, Kubernetes management tools, and cloud clusters.
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