Nutanix (NASDAQ:NTNX) Given Average Recommendation of “Moderate Buy” by Brokerages

Nutanix (NASDAQ:NTNX) has earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $62.4286.

Several brokerages have weighed in on NTNX. Wall Street Zen downgraded Nutanix from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “hold (c)” rating on shares of Nutanix in a report on Monday, December 29th. Piper Sandler lowered their price objective on Nutanix from $72.00 to $63.00 and set an “overweight” rating for the company in a research report on Thursday, February 26th. UBS Group upped their target price on Nutanix from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Wells Fargo & Company reduced their target price on Nutanix from $57.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th.

Nutanix Price Performance

Nutanix stock opened at $39.29 on Monday. The stock has a market capitalization of $10.62 billion, a P/E ratio of 42.71, a P/E/G ratio of 4.20 and a beta of 0.49. Nutanix has a 12-month low of $35.39 and a 12-month high of $83.36. The firm’s 50-day moving average is $42.64 and its two-hundred day moving average is $56.53.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. New Millennium Group LLC acquired a new position in Nutanix during the fourth quarter worth approximately $28,000. V Square Quantitative Management LLC purchased a new position in Nutanix during the fourth quarter worth approximately $39,000. Covestor Ltd boosted its holdings in shares of Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock valued at $40,000 after purchasing an additional 324 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Nutanix by 159.4% in the 4th quarter. Harbour Investments Inc. now owns 817 shares of the technology company’s stock valued at $42,000 after purchasing an additional 502 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in shares of Nutanix by 78.7% during the 4th quarter. GW&K Investment Management LLC now owns 981 shares of the technology company’s stock valued at $51,000 after buying an additional 432 shares during the period. 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.