Nutanix (NASDAQ:NTNX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Nutanix (NASDAQ:NTNX) has earned an average rating of “Moderate Buy” from the nineteen research firms that are covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $71.0667.

Several equities analysts recently weighed in on NTNX shares. Wall Street Zen downgraded Nutanix from a “buy” rating to a “hold” rating in a research report on Saturday. Northland Securities cut their price target on Nutanix from $76.00 to $53.00 and set a “market perform” rating for the company in a report on Wednesday, November 26th. JPMorgan Chase & Co. lowered their price target on shares of Nutanix from $78.00 to $65.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Northland Capmk lowered Nutanix from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 9th. Finally, Bank of America lowered their target price on shares of Nutanix from $93.00 to $75.00 and set a “buy” rating for the company in a report on Wednesday, November 26th.

Nutanix Price Performance

Shares of NASDAQ NTNX opened at $45.74 on Friday. The stock 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. The company’s 50-day moving average is $53.28 and its 200 day moving average is $65.68. Nutanix has a 1 year low of $45.70 and a 1 year high of $83.36.

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd grew its position in Nutanix by 67.3% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,017 shares of the technology company’s stock valued at $2,218,000 after acquiring an additional 11,670 shares during the last quarter. Norges Bank bought a new stake in shares of Nutanix during the second quarter worth $263,938,000. Swiss National Bank boosted its stake in shares of Nutanix by 6.7% during the second quarter. Swiss National Bank now owns 766,300 shares of the technology company’s stock valued at $58,576,000 after purchasing an additional 48,400 shares during the period. Prudential Financial Inc. grew its holdings in shares of Nutanix by 1,069.5% in the second quarter. Prudential Financial Inc. now owns 222,472 shares of the technology company’s stock worth $15,560,000 after purchasing an additional 203,449 shares during the last quarter. Finally, Schroder Investment Management Group increased its stake in Nutanix by 19.1% in the 2nd quarter. Schroder Investment Management Group now owns 1,190,376 shares of the technology company’s stock worth $90,992,000 after buying an additional 191,314 shares during the period. 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.