Raymond James upgraded Nutanix from a market perform rating to an outperform rating with a price target of $72.00. Several other analysts also gave positive ratings and raised their target prices for Nutanix. The stock opened at $67.58 on Wednesday, with a 50-day moving average price of $63.19 and a 200-day moving average price of $53.28. Nutanix reported its quarterly earnings data, posting an EPS of $0.17 and revenue of $565.23 million. Analysts predict that Nutanix will post an EPS of -0.02 for the current fiscal year.
In terms of internal transactions, CFO Rukmini Sivaraman and COO David Sangster sold shares of Nutanix. Insiders sold a total of 129,506 shares of company stock in the last quarter. Institutional investors also showed interest in Nutanix, with FIL Ltd, Norges Bank, Jericho Capital Asset Management LP, Nordea Investment Management AB, and FMR LLC acquiring stakes in the company.
Nutanix provides an enterprise cloud platform with services like a hyperconverged infrastructure software stack, Acropolis Hypervisor, virtual flow networks, Nutanix Kubernetes Engine, and Nutanix Cloud Clusters. The company aims to simplify the deployment and management of cloud-native environments, applications, and microservices.
Overall, Nutanix has received positive ratings from analysts, with an average rating of Moderate Buy and a consensus price target of $65.69. The company’s stock performance and internal transactions indicate confidence from both analysts and insiders in Nutanix’s growth potential. Institutional investors have also shown interest in the company, further validating its position in the market. Moreover, Nutanix’s focus on providing innovative cloud solutions reflects its commitment to meeting the evolving needs of businesses in today’s digital landscape.
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