Nutanix (NASDAQ:NTNX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Nutanix (NASDAQ:NTNX) has been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are covering the company, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $71.0667.

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Nutanix from $78.00 to $65.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Northland Securities lowered their price objective on shares of Nutanix from $76.00 to $53.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 26th. Piper Sandler reiterated an “overweight” rating and issued a $72.00 target price (down from $88.00) on shares of Nutanix in a report on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a report on Monday, December 29th. Finally, The Goldman Sachs Group decreased their price target on shares of Nutanix from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 28th.

Institutional Investors Weigh In On Nutanix

Several hedge funds have recently modified their holdings of NTNX. Parallel Advisors LLC raised its holdings in Nutanix by 96.7% during the 2nd quarter. Parallel Advisors LLC now owns 2,606 shares of the technology company’s stock worth $199,000 after buying an additional 1,281 shares during the period. Mn Services Vermogensbeheer B.V. purchased a new position in Nutanix during the 2nd quarter worth approximately $7,239,000. Wealth Enhancement Advisory Services LLC raised its stake in Nutanix by 30.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 64,648 shares of the technology company’s stock valued at $4,965,000 after purchasing an additional 15,133 shares during the period. Exchange Traded Concepts LLC raised its stake in Nutanix by 2.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 39,454 shares of the technology company’s stock valued at $3,016,000 after purchasing an additional 759 shares during the period. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Nutanix by 2.4% in the second quarter. IFM Investors Pty Ltd now owns 49,916 shares of the technology company’s stock valued at $3,816,000 after purchasing an additional 1,171 shares in the last quarter. 85.25% of the stock is owned by hedge funds and other institutional investors.

Nutanix Price Performance

Shares of NASDAQ:NTNX opened at $42.81 on Friday. The stock has a market cap of $11.58 billion, a price-to-earnings ratio of 57.08, a PEG ratio of 4.55 and a beta of 0.49. Nutanix has a 12 month low of $41.33 and a 12 month high of $83.36. The stock’s 50 day moving average price is $50.79 and its 200 day moving average price is $64.53.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.41. Nutanix had a negative return on equity of 32.95% and a net margin of 8.43%.The firm had revenue of $670.58 million during the quarter, compared to analyst estimates of $677.23 million. During the same period last year, the company posted $0.42 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. On average, sell-side analysts expect that Nutanix will post 0.31 EPS for the current year.

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.