Nutanix Inc. (NTNX) Upgraded to Conviction-Buy by Goldman Sachs Group, Inc. (The)

Nutanix Inc. (NASDAQ:NTNX) was upgraded by equities researchers at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “conviction-buy” rating in a note issued to investors on Friday, July 14th, Marketbeat.com reports. The firm currently has a $31.00 target price on the technology company’s stock. Goldman Sachs Group, Inc. (The)’s target price would indicate a potential upside of 42.59% from the company’s previous close.

Several other equities research analysts also recently issued reports on NTNX. Piper Jaffray Companies reaffirmed an “outperform” rating on shares of Nutanix in a research report on Sunday, April 2nd. Pacific Crest reaffirmed an “overweight” rating and issued a $30.00 price target on shares of Nutanix in a research report on Monday, July 3rd. Robert W. Baird reaffirmed a “buy” rating on shares of Nutanix in a research report on Friday, May 26th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $19.00 target price (up from $18.00) on shares of Nutanix in a research report on Monday, May 29th. Finally, Maxim Group reissued a “buy” rating and set a $41.00 target price on shares of Nutanix in a research report on Saturday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Nutanix presently has an average rating of “Buy” and an average price target of $32.01.

Nutanix (NASDAQ NTNX) traded down 0.37% on Friday, hitting $21.74. The company had a trading volume of 2,455,438 shares. Nutanix has a 12-month low of $14.38 and a 12-month high of $46.78. The stock’s market cap is $3.29 billion. The firm’s 50 day moving average price is $20.05 and its 200 day moving average price is $21.89.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Thursday, May 25th. The technology company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.45) by $0.32. The business had revenue of $191.76 million during the quarter, compared to analyst estimates of $186.56 million. Nutanix had a negative net margin of 61.32% and a negative return on equity of 5,196.17%. The firm’s quarterly revenue was up 67.2% compared to the same quarter last year. Equities analysts predict that Nutanix will post ($1.45) earnings per share for the current fiscal year.

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In other news, EVP David Sangster sold 27,000 shares of Nutanix stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $15.02, for a total value of $405,540.00. Following the completion of the transaction, the executive vice president now owns 116,000 shares in the company, valued at $1,742,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Kenneth W. Long III sold 30,000 shares of Nutanix stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $24.00, for a total transaction of $720,000.00. Following the completion of the transaction, the vice president now owns 240,234 shares of the company’s stock, valued at approximately $5,765,616. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,563,737 shares of company stock valued at $71,596,568.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. First American Bank bought a new position in shares of Nutanix during the second quarter valued at $205,000. Oppenheimer & Co. Inc. acquired a new stake in Nutanix during the first quarter worth $211,000. Washington Capital Management Inc. purchased a new position in shares of Nutanix during the first quarter valued at about $225,000. IPG Investment Advisors LLC purchased a new position in shares of Nutanix during the first quarter valued at about $225,000. Finally, FNY Managed Accounts LLC purchased a new position in shares of Nutanix during the first quarter valued at about $244,000. Institutional investors own 18.37% of the company’s stock.

Nutanix Company Profile

Nutanix, Inc is a United States-based company, which provides an enterprise cloud platform that converges silos of server, virtualization and storage into an integrated solution. The Company’s enterprise cloud platform connects to public cloud services. It has operations in the United States; Europe, the Middle East and Africa; Asia-Pacific, and Other Americas.