Nutanix Inc (NTNX) Price Target Raised to $38.00
Nutanix Inc (NASDAQ:NTNX) had its price target lifted by stock analysts at KeyCorp from $37.00 to $38.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target suggests a potential upside of 18.86% from the company’s current price.
A number of other brokerages have also recently issued reports on NTNX. Summit Redstone started coverage on Nutanix in a research note on Friday, October 14th. They set a “sell” rating on the stock. They noted that the move was a valuation call. JMP Securities assumed coverage on Nutanix in a research note on Tuesday, October 18th. They issued an “outperform” rating and a $38.00 price target on the stock. Raymond James Financial Inc. assumed coverage on Nutanix in a research note on Tuesday, October 25th. They issued a “market perform” rating on the stock. William Blair assumed coverage on Nutanix in a research note on Tuesday, October 25th. They issued an “outperform” rating on the stock. Finally, Needham & Company LLC assumed coverage on Nutanix in a research note on Tuesday, October 25th. They issued a “buy” rating and a $36.00 price target on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $36.63.
Shares of Nutanix (NASDAQ:NTNX) traded down 6.13% on Wednesday, hitting $32.00. The company’s stock had a trading volume of 3,462,657 shares. The stock’s 50-day moving average price is $29.71 and its 200-day moving average price is $30.98. Nutanix has a 52 week low of $23.11 and a 52 week high of $46.78. The firm’s market cap is $1.47 billion.
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In related news, major shareholder Canada Pension Plan Investment bought 584,093 shares of Nutanix stock in a transaction dated Thursday, October 27th. The shares were bought at an average cost of $28.13 per share, with a total value of $16,430,536.09. Following the acquisition, the insider now owns 2,210,807 shares in the company, valued at approximately $62,190,000.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of hedge funds have recently added to or reduced their stakes in NTNX. Morgan Stanley acquired a new stake in Nutanix during the third quarter valued at $51,037,000. JPMorgan Chase & Co. acquired a new stake in Nutanix during the third quarter valued at $29,979,000. Price T Rowe Associates Inc. MD acquired a new stake in Nutanix during the third quarter valued at $24,050,000. Canada Pension Plan Investment Board acquired a new stake in Nutanix during the third quarter valued at $22,200,000. Finally, Gilder Gagnon Howe & Co. LLC acquired a new stake in Nutanix during the third quarter valued at $11,100,000.
Nutanix, Inc (Nutanix) provides an enterprise cloud platform that converges silos of server, virtualization and storage into one integrated solution and connects to public cloud services. The Company’s software-driven platform delivers the scalability and pay-as-you-grow economics of the public cloud, while addressing enterprise requirements of application mobility, security, data integrity and control.
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