OTR Global Initiates Coverage on Nutanix (NTNX)

OTR Global assumed coverage on shares of Nutanix (NASDAQ:NTNX) in a research note issued to investors on Thursday morning, The Fly reports. The brokerage issued a neutral rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the company. Maxim Group reaffirmed a buy rating and issued a $58.00 target price (down from $62.00) on shares of Nutanix in a report on Friday, March 22nd. Odeon Capital Group began coverage on Nutanix in a report on Thursday, May 9th. They issued a buy rating on the stock. William Blair reaffirmed an outperform rating on shares of Nutanix in a report on Thursday, March 21st. Raymond James cut Nutanix from an outperform rating to a market perform rating in a report on Monday, March 4th. Finally, Jefferies Financial Group lifted their target price on Nutanix from $42.00 to $49.00 in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $53.31.

Shares of NTNX stock opened at $39.00 on Thursday. Nutanix has a 12-month low of $32.52 and a 12-month high of $64.87. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $7.10 billion, a PE ratio of -23.08 and a beta of 1.07.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Thursday, February 28th. The technology company reported ($0.55) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.57) by $0.02. Nutanix had a negative return on equity of 90.83% and a negative net margin of 31.41%. The firm had revenue of $335.36 million for the quarter, compared to analysts’ expectations of $331.04 million. As a group, analysts predict that Nutanix will post -2.95 EPS for the current year.

In related news, COO David Sangster sold 7,917 shares of Nutanix stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $35.99, for a total value of $284,932.83. Following the completion of the transaction, the chief operating officer now owns 7,917 shares in the company, valued at $284,932.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Tyler Wall sold 12,132 shares of Nutanix stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $41.23, for a total value of $500,202.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,049 shares of company stock valued at $1,385,135. 14.57% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Parallel Advisors LLC boosted its position in shares of Nutanix by 228.6% during the fourth quarter. Parallel Advisors LLC now owns 782 shares of the technology company’s stock valued at $32,000 after buying an additional 544 shares during the period. First Hawaiian Bank purchased a new position in shares of Nutanix during the fourth quarter valued at approximately $35,000. Tortoise Index Solutions LLC purchased a new position in shares of Nutanix during the first quarter valued at approximately $37,000. Neuburgh Advisers LLC boosted its position in shares of Nutanix by 230.0% during the first quarter. Neuburgh Advisers LLC now owns 1,056 shares of the technology company’s stock valued at $40,000 after buying an additional 736 shares during the period. Finally, Advisory Services Network LLC boosted its position in shares of Nutanix by 26.6% during the fourth quarter. Advisory Services Network LLC now owns 1,203 shares of the technology company’s stock valued at $50,000 after buying an additional 253 shares during the period. Institutional investors and hedge funds own 52.85% of the company’s stock.

Nutanix Company Profile

Nutanix, Inc, together with its subsidiaries, develops and provides an enterprise cloud platform in North America, Europe, the Asia Pacific, the Middle East, Latin America, and Africa. Its solution addresses a range of workloads, including enterprise applications, databases, virtual desktop infrastructure, unified communications, and big data analytics.

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Analyst Recommendations for Nutanix (NASDAQ:NTNX)

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