Nutanix (NASDAQ:NTNX) Receives $72.71 Average Target Price from Analysts

Shares of Nutanix (NASDAQ:NTNX) have received a consensus rating of “Moderate Buy” from the eighteen research firms that are currently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $72.7143.

A number of equities research analysts have recently commented on the company. Rosenblatt Securities raised their target price on Nutanix from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Northland Securities set a $70.00 price target on Nutanix in a report on Thursday, August 27th. Piper Sandler reiterated an “overweight” rating and set a $75.00 price target (up from $60.00) on shares of Nutanix in a research report on Thursday, August 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Nutanix in a report on Wednesday, June 24th. Finally, Wall Street Zen upgraded Nutanix from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th.

Hedge Funds Weigh In On Nutanix

A number of large investors have recently added to or reduced their stakes in the stock. CX Institutional grew its position in shares of Nutanix by 134.6% in 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. Western Wealth Management LLC acquired a new position in shares of Nutanix during the 1st quarter worth about $27,000. New Millennium Group LLC purchased a new position in Nutanix in the 4th quarter valued at about $28,000. Parkside Financial Bank & Trust lifted its stake in Nutanix by 43.8% in the 2nd quarter. Parkside Financial Bank & Trust now owns 578 shares of the technology company’s stock valued at $29,000 after buying an additional 176 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in Nutanix by 73.1% in the 4th quarter. Covestor Ltd now owns 767 shares of the technology company’s stock worth $40,000 after buying an additional 324 shares during the last quarter. 85.25% of the stock is currently owned by institutional investors and hedge funds.

Nutanix Stock Performance

Shares of NASDAQ NTNX opened at $68.06 on Monday. The company’s fifty day moving average price is $60.15 and its 200 day moving average price is $49.18. Nutanix has a 1 year low of $34.01 and a 1 year high of $82.42. The company has a market capitalization of $18.40 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 3.86 and a beta of 0.62. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.78 and a current ratio of 1.80.

Nutanix (NASDAQ:NTNX) last released its quarterly earnings data on Wednesday, August 26th. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. The company had revenue of $757.08 million during the quarter, compared to analysts’ expectations of $738.27 million. Nutanix had a net margin of 52.81% and a negative return on equity of 90.13%. The firm’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. On average, research analysts predict that Nutanix will post 1.02 earnings per share 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.