Nutanix (NASDAQ:NTNX) Receives $71.07 Average Price Target from Analysts

Shares of Nutanix (NASDAQ:NTNX) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $71.0667.

NTNX has been the topic of a number of recent analyst reports. Piper Sandler restated an “overweight” rating and set a $72.00 target price (down previously from $88.00) on shares of Nutanix in a report on Wednesday, November 26th. Barclays reissued an “equal weight” rating and set a $53.00 price objective (down previously from $64.00) on shares of Nutanix in a research note on Thursday, January 15th. Needham & Company LLC decreased their price objective on shares of Nutanix from $80.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. The Goldman Sachs Group cut their target price on shares of Nutanix from $95.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 28th. Finally, Oppenheimer started coverage on shares of Nutanix in a research report on Monday, November 17th. They set an “outperform” rating and a $90.00 price target on the stock.

Institutional Investors Weigh In On Nutanix

Several large investors have recently modified their holdings of NTNX. Vanguard Group Inc. lifted its holdings in shares of Nutanix by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 26,682,475 shares of the technology company’s stock valued at $1,984,909,000 after purchasing an additional 1,167,193 shares in the last quarter. AQR Capital Management LLC raised its holdings in Nutanix by 40.6% during the 3rd quarter. AQR Capital Management LLC now owns 6,626,271 shares of the technology company’s stock worth $492,928,000 after buying an additional 1,914,005 shares during the period. Geode Capital Management LLC lifted its stake in Nutanix by 0.6% in the second quarter. Geode Capital Management LLC now owns 4,549,909 shares of the technology company’s stock valued at $346,720,000 after buying an additional 25,918 shares in the last quarter. Federated Hermes Inc. boosted its holdings 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 valued at $264,819,000 after buying an additional 344,076 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in shares of 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 buying an additional 653,042 shares during the period. 85.25% of the stock is currently owned by institutional investors.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $43.21 on Friday. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 57.61, a P/E/G ratio of 4.86 and a beta of 0.49. The company has a 50 day moving average of $52.24 and a 200-day moving average of $65.16. Nutanix has a one year low of $42.80 and a one year high of $83.36.

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

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.