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Why Nutanix Inc. (NTNX) Stock Could See Much Higher Prices Ahead

Nutanix Inc. (NASDAQ: NTNX) is -1.92% lower on its value in year-to-date trading and has touched a low of $13.44 and a high of $33.73 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NTNX stock was last observed hovering at around $25.78 in the last trading session, with the day’s loss setting it -0.23% off its average median price target of $33.00 for the next 12 months. It is also 27.0% off the consensus price target high of $35.00 offered by 15 analysts, but current levels are 17.05% higher than the price target low of $30.80 for the same period.

Currently trading at $25.55, the stock is 3.39% and 2.34% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.97 million and changing -0.89% at the moment leaves the stock 0.68% off its SMA200. NTNX registered 23.67% gain for a year compared to 6-month loss of -10.45%. The firm has a 50-day simple moving average (SMA 50) of $3.52 and a 200-day simple moving average (SMA200) of -$18.58.

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The stock witnessed a 6.06% gain in the last 1 month and extending the period to 3 months gives it a -8.85%, and is -0.51% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.98% over the week and 2.74% over the month.

Nutanix Inc. (NTNX) has around 6450 employees, a market worth around $5.90B and $1.64B in sales. Fwd P/E is 51.10. Profit margin for the company is -48.80%. Distance from 52-week low is 90.10% and -24.26% from its 52-week high. The company has generated returns on investments over the last 12 months (-103.80%).

Nutanix Inc. (NTNX) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Nutanix Inc. (NTNX) is a “Overweight”. 15 analysts offering their recommendations for the stock have an average rating of 2.20, where 5 rate it as a Hold and 1 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Nutanix Inc. is expected to release its quarterly report on 08/31/2023.The EPS is expected to grow by 27.80% this year.

Nutanix Inc. (NTNX) Top Institutional Holders

The shares outstanding are 228.54M, and float is at 225.29M with Short Float at 2.25%.

Nutanix Inc. (NTNX) Insider Activity

A total of 56 insider transactions have happened at Nutanix Inc. (NTNX) in the last six months, with sales accounting for 14 and purchases happening 42 times. The most recent transaction is an insider sale by Wall Tyler,the company’sChief Legal Officer. SEC filings show that Wall Tyler sold 90,000 shares of the company’s common stock on Jan 03 at a price of $26.19 per share for a total of $2.36 million. Following the sale, the insider now owns 48256.0 shares.

Nutanix Inc. disclosed in a document filed with the SEC on Dec 21 that RAMASWAMI RAJIV (President and CEO) sold a total of 5,000 shares of the company’s common stock. The trade occurred on Dec 21 and was made at $28.34 per share for $0.14 million. Following the transaction, the insider now directly holds 0.31 million shares of the NTNX stock.

Still, SEC filings show that on Dec 20, Conway Craig (Director) disposed off 25,000 shares at an average price of $30.38 for $0.76 million. The insider now directly holds 33,363 shares of Nutanix Inc. (NTNX).

Nutanix Inc. (NTNX): Who are the competitors?

The company’s main competitors (and peers) include Progress Software Corporation (PRGS) that is trading 25.55% up over the past 12 months and Pixelworks Inc. (PXLW) that is -14.35% lower over the same period.

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