Nutanix (NASDAQ:NTNX) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Nutanix (NASDAQ:NTNX) from a buy rating to a hold rating in a report published on Saturday.

A number of other brokerages also recently weighed in on NTNX. Oppenheimer initiated coverage on shares of Nutanix in a report on Monday, November 17th. They set an “outperform” rating and a $90.00 price target for the company. Morgan Stanley set a $62.00 target price on Nutanix in a research note on Monday, January 12th. Piper Sandler reiterated an “overweight” rating and issued a $72.00 price target (down previously from $88.00) on shares of Nutanix in a research note on Wednesday, November 26th. Northland Capmk downgraded Nutanix from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 9th. Finally, Needham & Company LLC reduced their price objective on Nutanix from $80.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Eleven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $71.07.

Nutanix Stock Down 6.0%

NASDAQ NTNX opened at $45.74 on Friday. The company has a market capitalization of $12.37 billion, a P/E ratio of 60.99, a P/E/G ratio of 4.86 and a beta of 0.49. Nutanix has a 12-month low of $45.70 and a 12-month high of $83.36. The firm has a 50-day moving average price of $52.75 and a two-hundred day moving average price of $65.40.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. The company had revenue of $670.58 million during the quarter, compared to the consensus estimate of $677.23 million. Nutanix had a net margin of 8.43% and a negative return on equity of 32.95%. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. Equities analysts expect that Nutanix will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Nutanix

A number of hedge funds have recently modified their holdings of NTNX. Vanguard Group Inc. raised its position in Nutanix by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 26,682,475 shares of the technology company’s stock worth $1,984,909,000 after purchasing an additional 1,167,193 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Nutanix by 40.6% in the third quarter. AQR Capital Management LLC now owns 6,626,271 shares of the technology company’s stock valued at $492,928,000 after buying an additional 1,914,005 shares during the period. Geode Capital Management LLC raised its position in shares of Nutanix by 0.6% during the second quarter. Geode Capital Management LLC now owns 4,549,909 shares of the technology company’s stock worth $346,720,000 after acquiring an additional 25,918 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of Nutanix by 10.7% in the third quarter. Federated Hermes Inc. now owns 3,559,876 shares of the technology company’s stock worth $264,819,000 after acquiring an additional 344,076 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Nutanix by 22.8% in the fourth quarter. Nordea Investment Management AB now owns 3,517,888 shares of the technology company’s stock valued at $181,734,000 after acquiring an additional 653,042 shares during the last quarter. Institutional investors and hedge funds own 85.25% of the company’s stock.

About Nutanix

Nutanix, Inc is an enterprise cloud computing company that develops software to simplify the deployment and management of datacenter infrastructure. Founded in 2009 and headquartered in San Jose, California, Nutanix is best known for pioneering hyperconverged infrastructure (HCI), an approach that integrates compute, storage and virtualization into a single software-defined platform aimed at reducing complexity and operational overhead in private and hybrid cloud environments.

The company’s product portfolio centers on the Nutanix Cloud Platform, which includes its core AOS software for HCI, Prism for infrastructure management and automation, and a suite of additional services such as Calm for application automation, Files and Volumes for file and block services, Karbon for Kubernetes orchestration, and Era for database management.