Big changes are happening at Nutanix, Inc. (NASDAQ:NTNX), which makes the stock worth watching today. The company is among the top gainers of the stock market today, skyrocketing 2.97% or (1.14 points) to $39.53 from its previous close of $38.39. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 724545 contracts so far this session. NTNX shares had a relatively better volume day versus average trading capacity of 4.69 million shares, but with a 0.15 billion float and a 0.23% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for NTNX stock indicates that the average analyst price target is $47.32 per share. This means the stock has a potential increase of 19.71% from where the NTNX share price has been trading recently which is between $36.8 and $38.4228. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $25.
The shorts are climbing into Nutanix, Inc. (NTNX) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a rise in short interest in NTNX shares. While short interest still represents only 5.92% of NTNX’s float, the number of shares shorted have risen by 1871328. The number of shares shorted advanced to 10561837 shares, up from 8690509 shares during the preceding fortnight. With average daily trading volumes at 2582986 shares, days to cover increased to about 2.700423 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “FILING DEADLINE–Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of NTNX, BA, JMIA and MOMO” and dated May 16, 2019.
During the recent trading session for Nutanix, Inc. (NASDAQ:NTNX), the company witnessed their stock rise $2.56 over a week and tumble down $-2.47 from the price 20 days ago. When compared to their established 52-week high of $64.87, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 06/14/18. The recent low of $32.52 stood for a -39.06% since 04/03/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Nutanix, Inc., the two-week RSI stands at 50.38. This figure suggests that NTNX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current NTNX readings is similarly very revealing as it has a stochastic reading of 40% at this stage. This figure means that NTNX share price today is being neutral.
Technical chart claims that Nutanix, Inc. (NTNX) would settle between $38.94/share to $39.49/share level. However, if the stock price goes below the $37.32 mark, then the market for Nutanix, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $36.25 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.64. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Maxim Group lifted target price for shares of NTNX but were stick to Buy recommendation for the stock in their opinion released on March 22. The price target has been raised from $62 to $58. Jefferies analysts bumped their rating on Nutanix, Inc. (NASDAQ:NTNX) stock from Hold to Buy in a separate flash note issued to investors on March 11. Analysts at Raymond James lowered the stock to a Mkt Perform call from its previous Outperform recommendation, in a research note that dated back to March 04.
NTNX equity has an average rating of 2.09, with the figure leaning towards a bullish end. 23 analysts who tracked the company were contacted by Reuters. Amongst them, 6 rated the stock as a hold while the remaining 17 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 16 analysts rated Nutanix, Inc. (NASDAQ:NTNX) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, NTNX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 5.63 while for the average stock in the same group, the multiple is 375.14.
Nutanix, Inc. (NTNX)’s current-quarter revenues are projected to climb by nearly 2.44% to hit $296480, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 10.8% from $1.16 billion to a noteworthy $1.28 billion. At the other end of the current quarter income statement, Nutanix, Inc. is expected to see its adjusted earnings surge by roughly -185.71% to hit $-0.6 per share. For the fiscal year, NTNX’s earnings are projected to climb by roughly -135.48% to hit $-1.46 per share.