Nutanix (NASDAQ:NTNX) Upgraded by Wall Street Zen to Buy Rating

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

A number of other research analysts have also issued reports on NTNX. Bank of America raised 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. Weiss Ratings reissued a “hold (c)” rating on shares of Nutanix in a report on Wednesday, June 24th. Piper Sandler restated an “overweight” rating on shares of Nutanix in a research report on Wednesday, June 24th. Northland Securities set a $47.00 price target on shares of Nutanix in a research note on Thursday, May 28th. Finally, KeyCorp reiterated an “overweight” rating on shares of Nutanix in a 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.00.

Nutanix Price Performance

Shares of NTNX opened at $51.28 on Friday. The stock has a market cap of $13.86 billion, a PE ratio of 53.98, a PEG ratio of 4.52 and a beta of 0.61. Nutanix has a 12-month low of $34.01 and a 12-month high of $82.42. The business has a 50-day simple moving average of $47.58 and a two-hundred day simple moving average of $44.62.

Nutanix (NASDAQ:NTNX) last announced its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.12. The firm had revenue of $364.94 million for the quarter, compared to analyst estimates of $686.34 million. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm posted $0.22 earnings per share. On average, equities research 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 made changes to their positions in the stock. Versant Capital Management Inc boosted its holdings in Nutanix by 190.9% in the second quarter. Versant Capital Management Inc now owns 1,059 shares of the technology company’s stock valued at $54,000 after acquiring an additional 695 shares during the last quarter. Hilltop National Bank bought a new position in Nutanix during the 2nd quarter worth approximately $47,000. CX Institutional raised its holdings in Nutanix by 134.6% during the 2nd quarter. CX Institutional now owns 488 shares of the technology company’s stock worth $25,000 after purchasing an additional 280 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Nutanix by 308.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,135,857 shares of the technology company’s stock worth $43,174,000 after purchasing an additional 857,559 shares during the period. Finally, Caerus Investment Advisors LLC acquired a new position in shares of Nutanix in the 1st quarter worth approximately $222,000. 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.