Nutanix (NASDAQ:NTNX) Now Covered by Analysts at Rosenblatt Securities

Research analysts at Rosenblatt Securities initiated coverage on shares of Nutanix (NASDAQ:NTNX) in a research note issued on Thursday,Benzinga reports. The brokerage set a “buy” rating and a $60.00 price target on the technology company’s stock. Rosenblatt Securities’ target price suggests a potential upside of 57.73% from the stock’s current price.

Several other equities research analysts also recently commented on NTNX. Needham & Company LLC dropped their price objective on shares of Nutanix from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Barclays reduced their target price on shares of Nutanix from $53.00 to $47.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Piper Sandler dropped their price target on shares of Nutanix from $72.00 to $63.00 and set an “overweight” rating on the stock in a research note on Thursday, February 26th. Morgan Stanley cut their price objective on shares of Nutanix from $62.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, February 24th. Finally, William Blair reiterated a “market perform” rating on shares of Nutanix in a research note on Monday, March 23rd. Twelve analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $62.27.

Nutanix Trading Up 0.1%

Shares of NASDAQ NTNX opened at $38.04 on Thursday. The stock has a fifty day simple moving average of $40.02 and a two-hundred day simple moving average of $53.70. Nutanix has a 1-year low of $35.39 and a 1-year high of $83.36. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 4.07 and a beta of 0.52.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, February 25th. The technology company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.12. The firm had revenue of $722.83 million for 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 was up 10.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.47 earnings per share. Analysts forecast that Nutanix will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Nutanix

Several hedge funds have recently bought and sold shares of the company. Crestwood Advisors Group LLC lifted its stake in Nutanix by 0.4% in the 3rd quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock worth $3,236,000 after purchasing an additional 161 shares in the last quarter. OFI Invest Asset Management grew its position in shares of Nutanix by 14.9% during the 3rd quarter. OFI Invest Asset Management now owns 1,696 shares of the technology company’s stock valued at $126,000 after purchasing an additional 220 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Nutanix by 18.2% in the second quarter. Advisors Asset Management Inc. now owns 1,453 shares of the technology company’s stock worth $111,000 after purchasing an additional 224 shares during the period. CWC Advisors LLC. increased its holdings in shares of Nutanix by 4.3% in the third quarter. CWC Advisors LLC. now owns 5,636 shares of the technology company’s stock worth $419,000 after purchasing an additional 234 shares during the period. Finally, Utah Retirement Systems raised its position in shares of Nutanix by 0.6% in the fourth quarter. Utah Retirement Systems now owns 42,355 shares of the technology company’s stock worth $2,189,000 after buying an additional 257 shares in the last quarter. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.