Nutanix (NASDAQ:NTNX) Stock Rating Lowered by Morgan Stanley

Nutanix (NASDAQ:NTNX) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report released on Monday,Finviz reports.

A number of other research firms also recently commented on NTNX. Piper Sandler restated an “overweight” rating and issued a $72.00 target price (down previously from $88.00) on shares of Nutanix in a research report on Wednesday, November 26th. KeyCorp cut their price objective on Nutanix from $95.00 to $65.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Wells Fargo & Company reduced their price objective on shares of Nutanix from $71.00 to $57.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 26th. Wall Street Zen raised shares of Nutanix from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Bank of America decreased their price objective on shares of Nutanix from $93.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.13.

Nutanix Trading Up 0.8%

Nutanix stock opened at $53.51 on Monday. The company has a 50-day moving average price of $55.24 and a 200 day moving average price of $66.50. Nutanix has a 12-month low of $46.12 and a 12-month high of $83.36. The stock has a market cap of $14.47 billion, a P/E ratio of 71.35, a PEG ratio of 5.69 and a beta of 0.49.

Nutanix (NASDAQ:NTNX) last posted its quarterly earnings results on Tuesday, November 25th. The technology company reported $0.41 earnings per share for the quarter, meeting the consensus estimate of $0.41. The business had revenue of $670.58 million during the quarter, compared to analysts’ expectations of $677.23 million. Nutanix had a net margin of 8.43% and a negative return on equity of 32.95%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. As a group, analysts forecast that Nutanix will post 0.31 EPS for the current year.

Hedge Funds Weigh In On Nutanix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its position in shares of Nutanix by 1,196.7% during the fourth quarter. SG Americas Securities LLC now owns 139,509 shares of the technology company’s stock worth $7,211,000 after acquiring an additional 128,750 shares during the period. Assenagon Asset Management S.A. increased its holdings in Nutanix by 16.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 197,909 shares of the technology company’s stock worth $10,230,000 after purchasing an additional 28,369 shares during the period. Diversified Trust Co. increased its holdings in Nutanix by 30.6% during the 4th quarter. Diversified Trust Co. now owns 50,541 shares of the technology company’s stock worth $2,612,000 after purchasing an additional 11,837 shares during the period. 180 Wealth Advisors LLC raised its position in Nutanix by 3.7% in the 4th quarter. 180 Wealth Advisors LLC now owns 10,702 shares of the technology company’s stock valued at $553,000 after purchasing an additional 378 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Nutanix by 22.8% in the 4th quarter. Nordea Investment Management AB now owns 3,517,888 shares of the technology company’s stock valued at $181,734,000 after buying an additional 653,042 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.

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.