Nutanix, a tech company listed on the NASDAQ under the symbol NTNX, saw its price target increase from $68.00 to $81.00 by research analysts at Barclays. This change was reported by Benzinga, who also noted that Barclays currently rates the stock as “overweight.” The new price target represents a potential upside of 11.19% from the current price of the stock.
Several other equity research analysts have also recently published reports on Nutanix. Raymond James upgraded the stock from a “market perform” to an “outperform” rating with a $72.00 price target. Royal Bank of Canada, JPMorgan Chase & Co., KeyCorp, and Susquehanna all raised their respective price targets on the stock, reflecting a positive outlook on Nutanix’s performance. Overall, two analysts have rated the stock as a hold, while thirteen have issued a buy rating. The average rating from MarketBeat.com is a “Moderate Buy” with a consensus price target of $68.54.
On Friday, NTNX stock opened at $72.85, with a 52-week low of $26.47 and a high of $73.69. The company’s market capitalization is $17.8 billion, with a price-to-earnings ratio of -202.36 and a beta of 1.27. Nutanix last reported its earnings on February 28th, revealing earnings of $0.17 per share and revenue of $565.23 million for the quarter.
Insider activity at Nutanix includes notable transactions by insiders Tyler Wall and CFO Rukmini Sivaraman. Wall sold 15,000 shares at an average price of $62.25, while Sivaraman sold 53,029 shares at $64.77 per share. Institutional investors have also shown interest in Nutanix, with several acquiring new positions in the company.
Nutanix provides an enterprise cloud platform that offers various services such as hyperconverged infrastructure software, virtualization solutions, networking services, and cloud clusters. The company aims to simplify provisioning, operations, and lifecycle management of cloud-native environments and applications.
In conclusion, Nutanix has garnered positive attention from analysts and investors, with an optimistic outlook on its future performance in the tech sector. Insiders and institutional investors continue to show confidence in the company’s potential growth.
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