Nutanix (NASDAQ:NTNX) Hits New 12-Month Low – Here’s Why

Nutanix (NASDAQ:NTNX) shares reached a new 52-week low during trading on Friday . The company traded as low as $45.82 and last traded at $45.7550, with a volume of 3738012 shares trading hands. The stock had previously closed at $48.67.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NTNX shares. Zacks Research cut Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Wall Street Zen downgraded shares of Nutanix from a “buy” rating to a “hold” rating in a research report on Saturday. Oppenheimer started coverage on shares of Nutanix in a research note on Monday, November 17th. They issued an “outperform” rating and a $90.00 price target for the company. Northland Capmk lowered shares of Nutanix from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 9th. Finally, Wells Fargo & Company cut 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. Eleven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.07.

Nutanix Stock Down 6.0%

The firm has a fifty day moving average price of $53.28 and a two-hundred day moving average price of $65.68. The stock has a market capitalization of $12.37 billion, a P/E ratio of 60.99, a P/E/G ratio of 4.86 and a beta of 0.49.

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

Hedge Funds Weigh In On Nutanix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in shares of Nutanix by 96.7% in the 2nd quarter. Parallel Advisors LLC now owns 2,606 shares of the technology company’s stock worth $199,000 after purchasing an additional 1,281 shares in the last quarter. Mn Services Vermogensbeheer B.V. purchased a new stake in shares of Nutanix during the second quarter valued at $7,239,000. Wealth Enhancement Advisory Services LLC increased its holdings in Nutanix by 30.6% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 64,648 shares of the technology company’s stock worth $4,965,000 after buying an additional 15,133 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Nutanix by 2.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 39,454 shares of the technology company’s stock worth $3,016,000 after buying an additional 759 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in Nutanix by 2.4% in the 2nd quarter. IFM Investors Pty Ltd now owns 49,916 shares of the technology company’s stock worth $3,816,000 after buying an additional 1,171 shares during the last quarter. 85.25% of the stock is owned by 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.