Nutanix saw its price target raised by Morgan Stanley from $63.00 to $72.00, with the same weight rating on the stock. Other analysts have also increased their price targets on Nutanix, with JPMorgan Chase & Co., KeyCorp, Barclays, Susquehanna, and Raymond James all giving positive ratings. Overall, Nutanix has received a buy rating from thirteen analysts, with an average rating of Moderate Buy and an average price target of $66.38 based on data from MarketBeat.com.
In terms of performance, Nutanix’s stock fell $0.41 to $71.45 on Thursday, with 1,660,550 shares traded. The company has a 1-year low of $25.24 and a high of $73.69, with a market capitalization of $17.46 billion. The stock’s fifty-day moving average is $64.03, and its 200-day moving average is $55.30. Earnings per share for Nutanix were $0.17 for the quarter, with revenue of $565.23 million.
In insider trading news, COO David Sangster and CFO Rukmini Sivaraman both sold significant amounts of Nutanix stock. In the last ninety days, insiders have sold a total of 129,506 shares worth $8,270,938, representing 0.46% of the company’s shares.
On the institutional trading side, hedge funds and other institutional investors have been modifying their stock holdings 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 investors who have acquired stakes in the company, collectively owning 85.25% of Nutanix’s shares.
Nutanix provides an enterprise cloud platform that offers hyperconverged infrastructure software stack, Acropolis Hypervisor, virtual flow networks, Nutanix Kubernetes Engine, and Nutanix Cloud Clusters.
Overall, Nutanix has shown positive performance in terms of stock ratings, price targets, and insider trading activity. The company’s innovative cloud platform and strong market position make it an attractive investment opportunity for investors looking to capitalize on growth in the technology sector.
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https://www.marketbeat.com/instant-alerts/nasdaq-ntnx-boost-price-target-2024-05-23/