Nutanix (NASDAQ:NTNX) Stock Rating Upgraded by 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.

NTNX has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their price objective on Nutanix from $44.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, May 28th. Piper Sandler reiterated an “overweight” rating and set a $60.00 price objective (down from $63.00) on shares of Nutanix in a research note on Thursday, May 28th. Barclays upped their price objective on Nutanix from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Royal Bank Of Canada upped their price objective on Nutanix from $55.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 28th. Finally, Wells Fargo & Company upped their price objective on Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 28th. Ten equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.00.

Nutanix Stock Performance

NASDAQ NTNX opened at $53.64 on Friday. The stock has a market capitalization of $14.23 billion, a price-to-earnings ratio of 56.46, a PEG ratio of 6.14 and a beta of 0.62. The stock’s 50 day moving average price is $43.48 and its two-hundred day moving average price is $45.02. Nutanix has a 52 week low of $34.01 and a 52 week high of $82.42.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.35 by $0.12. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The firm had revenue of $364.94 million for the quarter, compared to analysts’ expectations of $686.34 million. During the same quarter in the previous year, the business posted $0.22 EPS. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast that Nutanix will post 0.56 EPS for the current year.

Institutional Investors Weigh In On Nutanix

A number of large investors have recently added to or reduced their stakes in the business. Caerus Investment Advisors LLC bought a new stake in Nutanix in the 1st quarter valued at $222,000. Essential Partners LLC raised its stake in Nutanix by 27.9% in the 1st quarter. Essential Partners LLC now owns 5,755 shares of the technology company’s stock valued at $219,000 after acquiring an additional 1,255 shares during the period. Western Wealth Management LLC bought a new stake in Nutanix in the 1st quarter valued at $27,000. Janus Henderson Group PLC raised its stake in Nutanix by 491.5% in the 1st quarter. Janus Henderson Group PLC now owns 117,800 shares of the technology company’s stock valued at $4,477,000 after acquiring an additional 97,884 shares during the period. Finally, Bull Harbor Capital LLC bought a new stake in Nutanix in the 1st quarter valued at $842,000. Institutional investors own 85.25% of the company’s stock.

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.