Northland Securities downgraded Nutanix (NASDAQ:NTNX) from outperform to market perform with a $71.00 target price. Several other research firms have also provided ratings and target prices for NTNX, including KeyCorp, JMP Securities, Raymond James, JPMorgan Chase & Co., and Susquehanna. Overall, four analysts have rated the stock as a hold, while twelve have rated it as a buy, resulting in an average rating of Moderate Buy and an average price target of $72.77.
Nutanix opened at $56.36 on Thursday with a market cap of $13.77 billion and has a price-to-earnings ratio of -805.03. The stock’s 50-day moving average is $64.82, and the 200-day moving average is $56.50. Nutanix reported its quarterly earnings on February 28th, posting $0.17 earnings per share and revenue of $565.23 million. The company is expected to post -0.04 earnings per share for the current fiscal year.
Insider transactions at Nutanix include COO David Sangster and insider Tyler Wall selling company stock. Institutional investors and hedge funds have also made changes to their positions in the company, with Massachusetts Financial Services Co. MA, M&T Bank Corp, Raymond James & Associates, International Assets Investment Management LLC, and Jump Financial LLC all increasing their holdings.
Nutanix provides an enterprise cloud platform and offers various services such as hyperconverged infrastructure software stack, Acropolis Hypervisor, flow virtual networking and network security, Nutanix Kubernetes Engine, and Nutanix Cloud Clusters. The company operates in various regions globally, including North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Investors can receive daily updates on Nutanix through MarketBeat’s FREE email newsletter.
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