Nutanix (NASDAQ:NTNX) Reaches New 12-Month Low – Should You Sell?

Nutanix (NASDAQ:NTNX) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $41.33 and last traded at $41.57, with a volume of 5476285 shares trading hands. The stock had previously closed at $43.21.

Wall Street Analysts Forecast Growth

NTNX has been the topic of a number of research reports. JPMorgan Chase & Co. cut their price target on shares of Nutanix from $78.00 to $65.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. KeyCorp cut their price objective on shares of Nutanix from $95.00 to $65.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Needham & Company LLC lowered their target price on Nutanix from $80.00 to $65.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Barclays reissued an “equal weight” rating and issued a $53.00 price target (down previously from $64.00) on shares of Nutanix in a research note on Thursday, January 15th. Finally, Morgan Stanley set a $62.00 price objective on Nutanix in a report on Monday, January 12th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Nutanix has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Nutanix Trading Down 0.4%

The company has a market capitalization of $11.58 billion, a price-to-earnings ratio of 57.08, a P/E/G ratio of 4.57 and a beta of 0.49. The stock’s 50 day moving average price is $50.79 and its 200 day moving average price is $64.61.

Nutanix (NASDAQ:NTNX) last released 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 negative return on equity of 32.95% and a net margin of 8.43%.The business had revenue of $670.58 million for the quarter, compared to analyst estimates of $677.23 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. Nutanix’s revenue was up 13.5% on a year-over-year basis. On average, research analysts expect that Nutanix will post 0.31 earnings per share for the current year.

Hedge Funds Weigh In On Nutanix

Several hedge funds and other institutional investors have recently made changes to their positions in NTNX. Dynamic Technology Lab Private Ltd boosted its stake in shares of Nutanix by 67.3% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 29,017 shares of the technology company’s stock worth $2,218,000 after acquiring an additional 11,670 shares during the period. Norges Bank bought a new stake in Nutanix in the 2nd quarter valued at $263,938,000. Swiss National Bank lifted its holdings in Nutanix by 6.7% during the 2nd 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 last quarter. Prudential Financial Inc. boosted its position in Nutanix by 1,069.5% during 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 period. Finally, Schroder Investment Management Group increased its holdings in shares of Nutanix by 19.1% in the second quarter. Schroder Investment Management Group now owns 1,190,376 shares of the technology company’s stock valued at $90,992,000 after purchasing an additional 191,314 shares during 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.