Nutanix (NASDAQ:NTNX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Nutanix (NASDAQ:NTNX) from a hold rating to a buy rating in a report published on Monday morning.

Several other equities research analysts also recently commented on the company. Northland Securities decreased their price objective on Nutanix from $76.00 to $53.00 and set a “market perform” rating for the company in a report on Wednesday, November 26th. Oppenheimer began coverage on shares of Nutanix in a research note on Monday, November 17th. They set an “outperform” rating and a $90.00 price target for the company. UBS Group raised their price objective on shares of Nutanix from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Royal Bank Of Canada set a $55.00 price target on Nutanix in a research note on Wednesday, February 11th. Finally, Needham & Company LLC cut their price objective on shares of Nutanix from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $62.43.

Nutanix Price Performance

NTNX stock opened at $40.32 on Monday. The company’s 50-day moving average is $44.39 and its 200-day moving average is $58.05. The stock has a market capitalization of $10.90 billion, a PE ratio of 43.83, a price-to-earnings-growth ratio of 3.61 and a beta of 0.49. Nutanix has a 1 year low of $35.39 and a 1 year high of $83.36.

Nutanix (NASDAQ:NTNX) last issued its earnings results on Wednesday, February 25th. The technology company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.12. Nutanix had a negative return on equity of 37.41% and a net margin of 9.95%.The business had revenue of $722.83 million during the quarter, compared to analyst estimates of $709.83 million. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. On average, analysts anticipate that Nutanix will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently modified their holdings of the company. SBI Securities Co. Ltd. lifted its position in Nutanix by 6.4% in the second quarter. SBI Securities Co. Ltd. now owns 2,453 shares of the technology company’s stock valued at $188,000 after purchasing an additional 148 shares during the last quarter. Simmons Bank increased its stake in shares of Nutanix by 2.1% during the second quarter. Simmons Bank now owns 7,295 shares of the technology company’s stock valued at $558,000 after purchasing an additional 150 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in Nutanix by 0.4% during the third quarter. Crestwood Advisors Group LLC now owns 43,499 shares of the technology company’s stock valued at $3,236,000 after buying an additional 161 shares during the last quarter. Manchester Capital Management LLC raised its position in shares of Nutanix by 14.1% in the 2nd quarter. Manchester Capital Management LLC now owns 1,374 shares of the technology company’s stock worth $105,000 after purchasing an additional 170 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in Nutanix by 33.0% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 749 shares of the technology company’s stock worth $57,000 after acquiring an additional 186 shares during the last quarter. 85.25% of the stock is currently owned by 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.