Nutanix (NASDAQ:NTNX) Receives $60.00 Consensus Target Price from Analysts

Nutanix (NASDAQ:NTNX) has been given an average rating of “Moderate Buy” by the eighteen research firms that are presently covering the firm, Marketbeat reports. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $60.00.

A number of equities research analysts have recently commented on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Nutanix in a research note on Thursday, May 28th. Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Nutanix in a research note on Friday, May 29th. Barclays upped their price target on shares of Nutanix from $47.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, May 28th. Bank of America increased their price target on Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Royal Bank Of Canada lifted their price objective on Nutanix from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 28th.

Nutanix Price Performance

Nutanix stock opened at $55.85 on Friday. The stock’s 50 day moving average is $49.87 and its 200 day moving average is $44.80. The firm has a market cap of $15.10 billion, a P/E ratio of 58.79, a P/E/G ratio of 4.81 and a beta of 0.61. Nutanix has a one year low of $34.01 and a one year high of $82.42.

Nutanix (NASDAQ:NTNX) last released its earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, beating 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 business had revenue of $364.94 million during the quarter, compared to the consensus estimate of $686.34 million. During the same quarter in the prior year, the firm posted $0.22 EPS. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities analysts anticipate that Nutanix will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Nutanix

Several large investors have recently added to or reduced their stakes in NTNX. CoreCap Advisors LLC grew its position in shares of Nutanix by 28.6% during the 2nd quarter. CoreCap Advisors LLC now owns 900 shares of the technology company’s stock worth $46,000 after buying an additional 200 shares during the period. Utah Retirement Systems boosted its stake in Nutanix by 0.6% during the fourth quarter. Utah Retirement Systems now owns 42,355 shares of the technology company’s stock worth $2,189,000 after acquiring an additional 257 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Nutanix by 5.8% in the first quarter. International Assets Investment Management LLC now owns 4,700 shares of the technology company’s stock worth $179,000 after purchasing an additional 259 shares during the period. Asset Management One Co. Ltd. increased its stake in Nutanix by 0.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 93,016 shares of the technology company’s stock valued at $4,868,000 after purchasing an additional 260 shares in the last quarter. Finally, CX Institutional raised its holdings in shares of Nutanix by 134.6% during the second quarter. CX Institutional now owns 488 shares of the technology company’s stock valued at $25,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds 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.