Nutanix (NASDAQ:NTNX) Rating Lowered to “Hold” at Wall Street Zen

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

A number of other analysts also recently issued reports on NTNX. UBS Group raised their price objective on Nutanix from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Barclays raised their price objective on Nutanix from $47.00 to $53.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 28th. The Goldman Sachs Group reissued a “buy” rating on shares of Nutanix in a research report on Thursday, May 28th. Needham & Company LLC raised their price objective on Nutanix from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. Finally, JPMorgan Chase & Co. raised their price objective on Nutanix from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, May 28th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.00.

Nutanix Stock Up 0.2%

Shares of NTNX opened at $49.31 on Friday. Nutanix has a 52-week low of $34.01 and a 52-week high of $82.42. The company has a market capitalization of $13.33 billion, a PE ratio of 51.91, a price-to-earnings-growth ratio of 4.35 and a beta of 0.62. The stock has a fifty day simple moving average of $44.67 and a two-hundred day simple moving average of $44.64.

Nutanix (NASDAQ:NTNX) last issued its 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. The business had revenue of $364.94 million during the quarter, compared to the consensus estimate of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS. As a group, equities analysts anticipate that Nutanix will post 0.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caerus Investment Advisors LLC purchased a new position in shares of Nutanix in the 1st quarter valued at about $222,000. Essential Partners LLC boosted its stake in shares of 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 buying an additional 1,255 shares during the period. Western Wealth Management LLC purchased a new position in shares of Nutanix in the 1st quarter valued at about $27,000. Janus Henderson Group PLC boosted its stake in shares of 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 buying an additional 97,884 shares during the period. Finally, Bull Harbor Capital LLC purchased a new position in shares of Nutanix in the 1st quarter valued at about $842,000. 85.25% of the stock is currently owned by hedge funds and other 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.