Nutanix (NASDAQ:NTNX) Given Average Rating of “Moderate Buy” by Analysts

Nutanix (NASDAQ:NTNX) has been assigned an average rating of “Moderate Buy” from the eighteen ratings firms that are presently covering the company, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $62.4286.

A number of analysts recently issued reports on the company. Piper Sandler dropped their price objective on Nutanix from $72.00 to $63.00 and set an “overweight” rating on the stock in a report on Thursday, February 26th. UBS Group lifted their target price on Nutanix from $57.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Wall Street Zen cut Nutanix from a “buy” rating to a “hold” rating in a research report on Tuesday. Royal Bank Of Canada set a $55.00 price target on shares of Nutanix in a report on Wednesday, February 11th. Finally, Zacks Research lowered shares of Nutanix from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 25th.

Nutanix Price Performance

Shares of NTNX stock opened at $39.29 on Monday. The company’s fifty day simple moving average is $42.64 and its two-hundred day simple moving average is $56.70. Nutanix has a 1 year low of $35.39 and a 1 year high of $83.36. The stock has a market capitalization of $10.62 billion, a price-to-earnings ratio of 42.71, a PEG ratio of 4.19 and a beta of 0.49.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.12. The firm had revenue of $722.83 million during the quarter, compared to analyst estimates of $709.83 million. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. Equities research analysts anticipate that Nutanix will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTNX. SBI Securities Co. Ltd. raised its position in shares of Nutanix by 6.4% in the second quarter. SBI Securities Co. Ltd. now owns 2,453 shares of the technology company’s stock worth $188,000 after buying an additional 148 shares in the last quarter. Crestwood Advisors Group LLC grew its position in Nutanix by 0.4% during the third quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock worth $3,236,000 after buying an additional 161 shares in the last quarter. Manchester Capital Management LLC grew its position in Nutanix by 14.1% during the second quarter. Manchester Capital Management LLC now owns 1,374 shares of the technology company’s stock worth $105,000 after buying an additional 170 shares in the last quarter. Itau Unibanco Holding S.A. increased its stake in Nutanix by 33.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock worth $57,000 after acquiring an additional 186 shares during the last quarter. Finally, OFI Invest Asset Management increased its stake in Nutanix by 14.9% in the 3rd quarter. OFI Invest Asset Management now owns 1,696 shares of the technology company’s stock worth $126,000 after acquiring an additional 220 shares during the last quarter. 85.25% of the stock is currently owned by hedge funds and other institutional investors.

Nutanix Company Profile

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.