Zacks Research Upgrades Nutanix (NASDAQ:NTNX) to “Strong-Buy”

Nutanix (NASDAQ:NTNX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada boosted their target price on shares of Nutanix from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 28th. KeyCorp reiterated an “overweight” rating on shares of Nutanix in a report on Thursday, May 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 price target on shares of Nutanix in a report on Friday, May 29th. Wells Fargo & Company increased their target price on Nutanix from $50.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, May 28th. Finally, Bank of America boosted their target price on shares of Nutanix from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Nutanix currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.00.

Nutanix Stock Up 3.9%

Shares of NASDAQ:NTNX opened at $59.05 on Monday. The firm has a market cap of $15.96 billion, a P/E ratio of 62.16, a P/E/G ratio of 5.01 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 fifty day simple moving average of $51.34 and a 200 day simple moving average of $44.99.

Nutanix (NASDAQ:NTNX) last issued its quarterly earnings results on Wednesday, May 27th. The technology company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.12. Nutanix had a negative return on equity of 38.96% and a net margin of 10.03%.The company had revenue of $703.07 million during the quarter, compared to analysts’ expectations of $686.34 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The business’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts expect that Nutanix will post 0.71 EPS for the current year.

Hedge Funds Weigh In On Nutanix

Institutional investors have recently made changes to their positions in the stock. CX Institutional increased its position in shares of Nutanix by 134.6% during the 2nd 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 last quarter. New Millennium Group LLC bought a new position in Nutanix in the 4th quarter worth $28,000. Western Wealth Management LLC bought a new stake in shares of Nutanix during the first quarter valued at approximately $27,000. V Square Quantitative Management LLC bought a new stake in Nutanix during the fourth quarter worth about $39,000. Finally, Covestor Ltd boosted its holdings in Nutanix by 73.1% in the fourth quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 85.25% of the company’s stock.

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.