Nutanix (NASDAQ:NTNX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Nutanix (NASDAQ:NTNX) have earned an average recommendation of “Moderate Buy” from the eighteen analysts that are covering the company, Marketbeat reports. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $60.00.

A number of brokerages recently issued reports on NTNX. Northland Securities set a $47.00 price target on shares of Nutanix in a report on Thursday, May 28th. Wall Street Zen downgraded shares of Nutanix from a “buy” rating to a “hold” rating in a report on Sunday. Bank of America increased their price objective on shares of Nutanix from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, May 28th. JPMorgan Chase & Co. increased their price objective on shares of Nutanix from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Thursday, May 28th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price objective on shares of Nutanix in a report on Friday, May 29th.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $48.32 on Wednesday. The company’s fifty day moving average price is $44.98 and its 200 day moving average price is $44.47. Nutanix has a 1 year low of $34.01 and a 1 year high of $82.42. The company has a market capitalization of $13.06 billion, a PE ratio of 50.86, a price-to-earnings-growth ratio of 4.35 and a beta of 0.62.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.12. Nutanix had a net margin of 10.03% and a negative return on equity of 38.96%. The firm had revenue of $364.94 million for the quarter, compared to the consensus estimate of $686.34 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities analysts expect that Nutanix will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New Millennium Group LLC purchased a new position in Nutanix during the fourth quarter valued at $28,000. Western Wealth Management LLC purchased a new position in Nutanix during the first quarter valued at $27,000. V Square Quantitative Management LLC purchased a new position in Nutanix during the fourth quarter valued at $39,000. Covestor Ltd lifted its holdings in Nutanix by 73.1% during the fourth quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after purchasing an additional 324 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in Nutanix by 159.4% during the fourth quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after purchasing an additional 502 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

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.