Nutanix (NASDAQ:NTNX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Nutanix (NASDAQ:NTNX) have received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $60.00.

A number of research analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Nutanix in a research report on Wednesday, June 24th. KeyCorp reaffirmed an “overweight” rating on shares of Nutanix in a report on Thursday, May 28th. Royal Bank Of Canada raised their target price on shares of Nutanix from $55.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 28th. Northland Securities set a $47.00 price target on Nutanix in a report on Thursday, May 28th. Finally, Bank of America boosted their price target on Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th.

Nutanix Trading Down 0.9%

NASDAQ NTNX opened at $60.96 on Thursday. Nutanix has a 12 month low of $34.01 and a 12 month high of $82.42. The stock has a 50 day moving average of $53.03 and a 200-day moving average of $45.34. The company has a market cap of $16.48 billion, a PE ratio of 64.17, a PEG ratio of 4.07 and a beta of 0.60.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The business had revenue of $703.07 million for the quarter, compared to the consensus estimate of $686.34 million. During the same period in the previous year, the company earned $0.22 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. As a group, sell-side analysts predict that Nutanix will post 0.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. CX Institutional increased its stake in shares of Nutanix by 134.6% during the second quarter. CX Institutional now owns 488 shares of the technology company’s stock worth $25,000 after purchasing an additional 280 shares during the period. New Millennium Group LLC bought a new stake in Nutanix during the fourth quarter worth about $28,000. Western Wealth Management LLC bought a new stake in shares of Nutanix during the 1st quarter worth approximately $27,000. V Square Quantitative Management LLC bought a new stake in Nutanix during the fourth quarter worth $39,000. Finally, Covestor Ltd boosted its stake in Nutanix by 73.1% in the fourth quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after buying an additional 324 shares in the last quarter. 85.25% of the stock is owned by institutional investors.

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.