Nutanix (NASDAQ:NTNX) Raised to Buy at Wall Street Zen

Nutanix (NASDAQ:NTNX) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other research analysts have also commented on the stock. Northland Securities dropped their price target on shares of Nutanix from $76.00 to $53.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 26th. Oppenheimer initiated coverage on shares of Nutanix in a report on Monday, November 17th. They issued an “outperform” rating and a $90.00 price objective for the company. The Goldman Sachs Group lowered their target price on shares of Nutanix from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank Of Canada set a $55.00 target price on Nutanix in a report on Wednesday. Finally, Barclays reiterated an “equal weight” rating and set a $53.00 price target (down previously from $64.00) on shares of Nutanix in a research note on Thursday, January 15th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.13.

Nutanix Price Performance

Shares of Nutanix stock opened at $41.76 on Friday. The firm has a market cap of $11.29 billion, a price-to-earnings ratio of 55.68, a P/E/G ratio of 4.39 and a beta of 0.48. The stock has a 50-day simple moving average of $46.90 and a 200-day simple moving average of $61.07. Nutanix has a 52-week low of $35.39 and a 52-week high of $83.36.

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

Institutional Investors Weigh In On Nutanix

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Nutanix by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 27,514,943 shares of the technology company’s stock worth $1,422,247,000 after purchasing an additional 832,468 shares during the last quarter. AQR Capital Management LLC increased its position in Nutanix by 40.6% in the 3rd quarter. AQR Capital Management LLC now owns 6,626,271 shares of the technology company’s stock worth $492,928,000 after buying an additional 1,914,005 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Nutanix by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 5,283,964 shares of the technology company’s stock worth $272,452,000 after buying an additional 135,533 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Nutanix by 14.0% during the fourth quarter. First Trust Advisors LP now owns 3,647,276 shares of the technology company’s stock worth $188,528,000 after buying an additional 447,806 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Nutanix in the fourth quarter valued at approximately $187,169,000. 85.25% of the stock is owned by institutional investors and hedge funds.

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.